Engel & Völkers’ 2024 Year-End Luxury Real Estate Market Report highlights trends for residential properties over $1 million in Halifax, Montréal, Ottawa, Toronto, and Vancouver. Following five consecutive interest rate cuts, a surge in spring 2025 listings is expected to temporarily pressure prices before they stabilize and trend upward as demand absorbs the inventory. October 2024 marked a turning point, with increased unit sales signaling recovery from post-COVID stagnation.