Welcome to our Toronto Luxury Real Estate Market Report
Welcome to our Toronto Luxury Real Estate Market Report. We’ll be updating this page monthly with the latest stats and trends from one of the hottest luxury markets in the world.
What Makes A Toronto House A Luxury Home?
The criteria differ slightly from market to market. Currently the cut off point for luxury houses and homes in Toronto is US$3,000,000. Worldwide the average is around US$2,200,000 as of 2016. While Auckland is the fastest growing market, Toronto is the fastest selling market. Currently luxury houses sell in an average of 28 days. Worldwide that average is 195 days on the market. Not only is Toronto faster it’s also investment positive.
The Hottest Luxury Markets Worldwide
(Based on year-over-year growth in sales of luxury properties, 2015 vs 2014)
- Auckland, New Zealand (64% increase)
- Toronto (48% increase)
- Victoria
- Valencia, Spain
- San Francisco
- Jackson Hole, Wyoming
- Costa Smeralda, Sardinia
- Portland, Oregon
- Sydney
- Stockholm
What Are The Hottest Markets In Canada?
In a Canadian context the two prime markets are Vancouver and Toronto. The recent introduction of a 15% vacancy tax has already had a marked influence on the number of high end homes sold in Vancouver. While the true nature of the effect remains to be seen you can be sure that there will be a knock on effect in Toronto as investors look beyond Vancouver. This will undoubtedly push Toronto and the surrounding markets into new territory in 2017. By International Standards Toronto is still definitely under valued.
If you would like to discuss investing in luxury homes in Toronto or are thinking of purchasing property from abroad as a non resident of Canada, please read our post, How To Purchase Property in Toronto As A Non Resident. We also have another post about International Buyer Tips here.
How Can You View Luxury And High End Properties For Sale?
Our company REMAX Hallmark has a dedicated web portal for international properties of significance. If you would like a more bespoke solution please contact us and we will include you on our exclusive property listings that we prepare for our clients weekly. You must opt in for this service.
Can We Help Purchase Properties In Other Provinces?
No. We are licensed to trade in Real Estate in Ontario only. We have a cross country network of REMAX agents that we would be happy to refer should you need their services.
Toronto Luxury Real Estate Market Report Regular Updates
This page will be updated monthly with quick glance statistics as they get processed. Check back here regularly. Please contact us if you would like to be set up on our automatic feed. This will give you new listings as they come on the MLS straight into your inbox.