The future of the luxury real estate market in Toronto is looking brighter as we get farther into the year.  Three key factors influencing the current status of the market are serious equity gains, a recovering stock market, and an improved economic performance.  

At the beginning of the year the sale of luxury real estate surged in close to two thirds of the housing market with Greater Toronto leading in terms of percentage by nine percent.  In 2011 the sales of luxury real estate has surprised analysts by unexpectedly surpassing last year’s record performance.  

Popular Toronto Neighborhoods

Over four hundred and thirty five Toronto properties have sold with some in excess of five million dollars, the most expensive being 17.5 million dollars for a property in an affluent Teddington Park neighborhood which set a record as the highest priced luxury real estate sold in the city.  A vast majority of the sales are occurring in some of the older Toronto neighborhoods such as Forrest Hill, South Hill, Lytton Park, Lawrence Park, Rosedale, Annex, Leaside, Princess Anne Manor, Bridle Path, and the central core of Hogg’s Hollow.  Ledbury Park and St. Andrews are also coming in strong at 1.5 million dollars.

Real Estate Investment!?

As the number of luxury real estate investors in Toronto continues to swell, stock in upper end housing is fighting to keep up.  Affluent Canadians who have recently increased their wealth in residential real estate holdings are experiencing a clear preference for tangible assets.  The only hindrance in Toronto’s 2011 luxury real estate sales has been the limited inventory because the demand for luxury real estate is exceeding what is available.