How do we define “Luxury” real estate in 2023 in Toronto ? Impossible to quantify as the bar keeps rising. In this case we are using the random threshold of five million or more. That said there were ninety-seven homes (including eighty-eight houses and nine condos) that have exceeded the five million dollar threshold thus far in 2023,

The highest condo sale was $7,600,000. Four of the nine sales recorded over five million were in the Yorkville neighbourhood. The five million threshold was also topped with one sale each in the: Rosedale, Deer Park, Bridle Path, Harbourfront and Bay Street Corridor neighbourhoods.

The highest house sale was $16,500,000 in the Forest Hill neighbourhood. The Rosedale and York Mills neighbourhoods led the way with fifteen sales recorded over five million followed by Forest Hill with twelve sales, Bridle Path with eight, Lytton Park with four, Lawrence Park with three and Cricket Club with three. Other neighbourhoods with at least one sale surpassing five million include: Deer Park, Hoggs Hollow, Kingsway, Baby Point, Leaside, Bayview Village, South Hill, Annex, High Park, Lansing, Humewood, Teddington Park, Trinity Bellwoods, North Toronto and Windfields.

Demand for luxury real estate in Toronto remains strong which is refelected in the fact that seventeen sales went for the asking price or above with ten houses selling for over asking which is usually a sign of multiple bidders. Currently there are 163 houses and twenty-nine condos listed for sale in Toronto for over five million dollars.

If you would like more information on the Toronto real estate luxury market contact David Dunkelman, Broker, Royal Lepage Johnston and Daniel Division and Author: Your Guide to Toronto Neighbourhoods. Email: [email protected]