"One million dollars is not an elite distinction for homes anymore", says Elli Davis

Houses in the multimillion-dollar range are becoming much more common in Canada, and buyers are jumping on coveted properties and high-end developments before they're even built.

(...) "One million used to be what we would call a "carriage trade" property as an elite distinction for the home," recalls Elli Davis, a leading Sales Representative for Royal LePage Toronto. "Today I would say it 's closer to $2 million and up. Prices in new condo developments in Toronto are up in the range of $1,000 to $1,500 per square foot, which is a relatively new price range in Toronto in the last few years."

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