Toronto leads Vancouver in luxury home market
According to luxury realtor Sotheby’s International Realty Canada, Toronto is outselling Vancouver’s famously expensive high end mountains and oceanfront views.
Toronto’s lead in Canadian luxury home sales continued through the summer and is expected to carry on for the remainder of 2016.
Sales of one million plus Toronto area single family homes rose 83 per cent year over year in July and August.
That’s not entirely surprising given that the average cost of a detached home in Toronto was about $1.2 billion, said Brad Henderson, CEO of Sotheby.