{"id":25872,"date":"2025-06-02T10:10:20","date_gmt":"2025-06-02T17:10:20","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=25872"},"modified":"2025-05-27T10:22:03","modified_gmt":"2025-05-27T17:22:03","slug":"canadian-luxury-homes-cabins-are-stable-with-buyers-less-sensitive-to-mortgage-price-changes","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2025\/06\/canadian-luxury-homes-cabins-are-stable-with-buyers-less-sensitive-to-mortgage-price-changes\/","title":{"rendered":"Canadian Luxury Homes &#038; Cabins are Stable with Buyers Less Sensitive to Mortgage &#038; Price Changes"},"content":{"rendered":"<p style=\"text-align: justify;\">Canada\u2019s housing market may be losing steam this spring, but luxury homes and scenic cabins appear to be weathering the slowdown\u2014just not for the same reasons.<\/p>\n<p style=\"text-align: justify;\">The luxury segment of Canada\u2019s housing market seems to be \u201cholding up\u201d compared with less expensive tiers, said Andrew Dinsmore, CFO with brokerage Engel &amp; V\u00f6lkers Americas Inc.<\/p>\n<p style=\"text-align: justify;\">That\u2019s partly because well-heeled clients tend to be less sensitive to changes in mortgage rates and home prices, concerned instead with larger wealth strategies, he said.<\/p>\n<p style=\"text-align: justify;\">A May 7 report by Sotheby\u2019s International Realty Canada noted a pullback in Canada\u2019s luxury market in the first quarter, but said \u201csegments of Canada\u2019s metropolitan luxury real estate sector showed surprising resilience, underscoring the strength of select markets and consumer groups in the face of turmoil.\u201d<\/p>\n<p style=\"text-align: justify;\">The Greater Toronto Area saw five sales above $10 million compared with none in the same period in 2024.<\/p>\n<p style=\"text-align: justify;\">But the report went onto note Montreal luxury sales over $4 million stood at eight properties sold in the first quarter of 2025, unchanged from the same period one year prior.<\/p>\n<p style=\"text-align: justify;\">And in Vancouver, luxury sales above $4 million in the first quarter of 2025 declined by 48% year-over-year to 33 properties sold.<\/p>\n<p style=\"text-align: justify;\">Dinsmore said it\u2019s hard to ignore the chill in this year\u2019s spring market.<\/p>\n<p style=\"text-align: justify;\">\u201cThere\u2019s signs of a slowdown, and not just in Canada but in the US and other markets as well,\u201d he said.<\/p>\n<p style=\"text-align: justify;\">For the Canadian market as a whole, actual (not seasonally adjusted) sales activity in April 2025 came in 9.8% below the same month last year, according to the Canadian Real Estate Association.<\/p>\n<p style=\"text-align: justify;\">Inventory also increased, with the number of properties listed for sale on all Canadian Multiple Listing Service systems at the end of April 2025 up 14.3% from a year earlier, the CREA said in its latest monthly report.<\/p>\n<p style=\"text-align: justify;\">Properties are also sitting on the market longer. In Vancouver, the average number of days on market increased in April 2025 for all property types compared to a year earlier, according to the Greater Vancouver Realtors professional association.<\/p>\n<p style=\"text-align: justify;\">One reason for the subdued market could be a preference by consumers for liquid assets over real estate, Dinsmore said.<\/p>\n<p style=\"text-align: justify;\">\u201cHaving to lock in any cash these days, especially with the economic uncertainty that we\u2019re looking at, is a concern,\u201d he said.<\/p>\n<p style=\"text-align: justify;\">Amid concerns of a tariff-driven recession, this may actually be beneficial to some cohorts by tempering prices and necessitating rate cuts, Dinsmore said.<\/p>\n<p style=\"text-align: justify;\">\u201cMaybe in a way [they are] almost holding out for the possibility of tougher economic times,\u201d he said.<\/p>\n<p style=\"text-align: justify;\"><strong>Cabin Fever<\/strong><\/p>\n<p style=\"text-align: justify;\">Meanwhile, a recent report delved into one niche of the market: recreational properties such as cabins in BC destinations like Whistler, Penticton, Summerland, Osoyoos, North Okanagan, Tofino and Ucluelet.<\/p>\n<p style=\"text-align: justify;\">Like luxury real estate, cabins are also doing OK, but for different reasons.<\/p>\n<p style=\"text-align: justify;\">\u201cWe\u2019re still seeing a pretty balanced market,\u201d said Kingsley Ma, Vancouver-based area vice-president with Re\/Max LLC.<\/p>\n<p style=\"text-align: justify;\">A May 12 report from Re\/Max found that cabins, often owned by high-net-worth families as secondary homes, are now attracting other buyers interested in using them as primary residences.<\/p>\n<p style=\"text-align: justify;\">\u201cThere are a lot of families that are looking for these properties,\u201d Ma said.<\/p>\n<p style=\"text-align: justify;\">\u201cThis gives the younger generation, especially with young families, a chance to go, \u2018Well, maybe I can live farther as long as I have the internet connection. I get more space, I don\u2019t have to pay as much and it\u2019s perfect to grow my family.\u2019\u201d<\/p>\n<p style=\"text-align: justify;\">Positives for the cabin category may include price points, investment value and proximity to nature, while negatives may include vacancy taxes, short-term-rental restrictions and inflexible employment policies binding workers to certain geographies.<\/p>\n<p style=\"text-align: justify;\">\u201cWe need to wait until the tariff situation settles [and] give it a little bit more time before people have that confidence to either move into a primary home in those areas or invest into it,\u201d Ma said.<\/p>\n<p><a href=\"https:\/\/www.biv.com\/news\/real-estate\/canadian-luxury-real-estate-holding-up-despite-spring-chill-for-housing-market-10709688\" target=\"_blank\" rel=\"noopener\">Canadian Luxury Real Estate &#8220;Holding Up&#8221; Despite Spring Chill for Housing Market<\/a> by Jami Makan | BIV<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canada\u2019s housing market may be losing steam this spring, but luxury homes and scenic cabins appear to be weathering the slowdown\u2014just not for the same reasons. The luxury segment of &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2025\/06\/canadian-luxury-homes-cabins-are-stable-with-buyers-less-sensitive-to-mortgage-price-changes\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,13],"tags":[],"class_list":["post-25872","post","type-post","status-publish","format-standard","hentry","category-market-updates","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Canadian Luxury Homes &amp; Cabins are Stable with Buyers Less Sensitive to Mortgage &amp; Price Changes &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2025\/06\/canadian-luxury-homes-cabins-are-stable-with-buyers-less-sensitive-to-mortgage-price-changes\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Canadian Luxury Homes &amp; Cabins are Stable with Buyers Less Sensitive to Mortgage &amp; Price Changes &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Canada\u2019s housing market may be losing steam this spring, but luxury homes and scenic cabins appear to be weathering the slowdown\u2014just not for the same reasons. 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