May 14 | Posted by Barry

It may come as a surprise to some, that as the country continues to recover from the global recession, luxury living is on the rise throughout Toronto. In the Greater Toronto Area, the price point for luxury homes currently sits at $1.5 million and in the first quarter of 2010, a total of 269 luxury homes were sold.

This represents an increase of 263 per cent (year-over-year), as the same quarter last year saw only 74 luxury home sales.

Why the sudden increase in luxury home sales?

We hypothesize:

  • Homes are a better long-term investment than the stock market, as fluctuation is never as severe.
  • An increase in the strength of the CDN $ means higher foreign investment in premium quality homes.
  • Inheritance or wealth transference.
  • Immigration for family needs.  


Many homes in the York Mills (C12) area qualify as luxury homes, in fact the majority of luxury homes in the city can be found right here. As of April 2010, the average price of a home in the area fell over the luxury price point at $1,518,902. People are continually recognizing the sound investment opportunity that purchasing a luxury home represents.

Interested in luxury living? You know who to call.

Sources: REMAX Upper End Market Trends Report 2010
                Toronto Real Estate Board: Market Watch April 2010