Out-of-province buyers in Canada are hiking up the luxury real estate prices in Edmonton, Alberta.

 

Out-of-province buyers in Canada are hiking up the luxury real estate prices in Edmonton, Alberta.  Homes priced over $1M in the Greater Edmonton Area decreased by 4%, with 263 sales in 2022 compared to 274 in 2021.  More:  "Alberta has become a destination for Canadians from other provinces," says Don Kottick, president and CEO of Sotheby's International Realty Canada. People are moving to Calgary and Edmonton because it's "among the most affordable major markets in general," explains Kottick.  Calgary and Edmonton luxury real estate start at $1M versus $4M in Greater Toronto Area.  The lower cost of luxury homes makes it an attractive market for buyers from all over the country.