High-end home sales in Toronto set to dominate this year, Sotheby’s says
Toronto is poised to lead the country in high-end home sales for the third consecutive year in 2017, according to Sotheby’s International Realty Canada.
The realtor released a report Wednesday that looked at sales of homes for more than $1 million in Toronto and three other cities — Calgary, Montreal and Vancouver.
It concluded that 19,692 such properties were sold last year in the Greater Toronto Area — an increase of 77 per cent compared to 2015. Sales of luxury homes — those worth more than $4 million — in the GTA rose 95 per cent year-over-year to 290 homes.
There is a confluence of factors responsible for the red-hot growth in Toronto’s top-tier real estate market, said Brad Henderson, president and CEO of Sotheby’s International Realty Canada.