Luxury Property Report
SPRING OUTLOOK 2026
Market Commentary by Barry Cohen
Stronger activity at luxury’s entry-level price point in Toronto expected to spill over into more expensive brackets in the months ahead
While inclement weather weighed on high-end home sales early in the year, momentum is beginning to shift in Toronto’s luxury housing market. Buyers are slowly returning to the upper-end with activity picking up across entry and mid-tier luxury price points through the first four months of 2026. Gains to date are concentrated in the $2 million to $3 million and $5 million to $7.5 million ranges, while activity above $10 million is tracking largely in line with year-ago levels.
BARRY COHEN President & Broker
Activity between $2 million to $3 million rose modestly between January and April this year, with 400 sales reported in 2026, compared 397 sales during the same period in 2025. This segment remains a critical entry point to the luxury market, typically driving move-up activity and helping to unlock sales further up the price spectrum. A closer look at neighbourhood-level performance tells the same story, with 12 of 14 central markets reporting considerable gains in this range. Pricing, however, has been slower to respond. Only five of the 14 markets reported increases in average sale price.
Freehold & Condominium Sales In The Greater Toronto Area
January 1st - April 30th, 2026 vs. same period in 2025
Source: REALM, Toronto Regional Real Estate Board (TRREB) Market Watch
Freehold activity continues to be concentrated in Toronto’s core luxury neighbourhoods in the first four months of 2026. Rosedale–Moore Park led with 30 sales above $2 million, followed by Bedford Park–Nortown with 28. In the $5 million-plus segment, Bridle Path–Sunnybrook–York Mills recorded nine sales, followed by Rosedale–Moore Park (seven) and Forest Hill South (five).Empty nesters and retirees continue to drive luxury condominium
sales in Toronto, with modest gains reported above the $3 million price point. Security and convenience remain top of mind, with 17 properties changing hands over $3 million between January and April, up from 14 reported during the same period in 2025.
Inventory levels remain healthy overall, although tighter conditions are beginning to emerge in select highdemand pockets. Some sellers have been hesitant to list amid concerns properties may linger, but that dynamic is expected to change considering the recent uptick in activity. Additional inventory should come on stream in the weeks ahead as sellers look to capitalize on improving buyer momentum.
With interest rates holding steady for now, confidence is gradually returning. Showings have increased and engagement is building, but buyers remain measured, with offers slow to materialize. At the same time, a notable shift toward leasing is underway. Activity that was once heavily weighted toward sales at roughly 90 per cent is now closer to a 60/40 split, as more participants opt for flexibility in an uncertain environment. Looking ahead, momentum is expected to build slowly, supported by strength at the lower end of the luxury market and the ripple effect that typically follows. Greater certainty around interest rates, coupled with more responsive pricing, may serve to further shake-up homebuying activity, but in the interim, properties priced above $5 million will need to be highly compelling to sell—well-priced, well-located, and relatively new or recently updated.
For uber-luxe sellers, this means preparation and positioning will be critical in the months ahead. Properties listed for sale must present at their very best; fresh, well-maintained, with strong curb appeal. Buyers are particularly sensitive to properties that suggest deferred maintenance or future capital outlay. Pricing also needs to reflect current market realities. Getting it right the first time is essential, as extended time on market can quickly lead to stagnation and, ultimately, stigmatization.
In a market where performance varies widely by price point and neighbourhood, experience and knowledge are key. The seasoned realtors at Cohen Homes and Estates can help navigate pricing strategies, identify opportunities, and provide critical insight into shifting conditions. For those looking to buy or sell, working with realtors that understand the intricacies of the market can offer a distinct advantage.
All the best,
Barry
Cohen
#1 TEAM IN THE WORLD For Luxury Properties
110+ Countries | 8,929 O ces | 50+ Languages Remax Dominates Luxury
When asked to name a real estate brand, REMAX is the name people name first. Whether you’re buying or selling a city penthouse, a waterfront retreat or an equestrian estate, the REMAX network consists of over 140,000 agents who can help open the front door around the globe.
The Global Reach of REMAX
Notable Sales In 2026
101 OLD COLONY ROAD OFFERED AT $17,500,000 Highest Sale Record On TRREB in 2026
33 BLYTH HILL ROAD OFFERED AT $6,680,000 Represented Both Seller & Buyer Represented the Buyer For Significantly Under Asking Price
100 BAYVIEW RIDGE OFFERED AT $15,888,000
12 SANDY RIDGE COURT OFFERED AT $4,880,000 Record Price
Unmatched Global Exposure
We are the exclusive partner of Forbes Global Properties, for the GTA & Cottage Country, an invitation only platform showcasing the world’s finest homes to a targeted audience of luxury buyers.
More earned media reach than any brand in the luxury real estate space.
The Greater Toronto Area’s Top Luxury Markets
Bridle Path, Sunnybrook, York Mills, Hoggs Hollow, St. Andrews, Windfields (C12)
Luxury home sales in TRREB’s prestigious C12 neighbourhoods were off to a strong start this year, with activity picking up noticeably in the first four months of 2026. Freehold sales above $2 million rose 33 per cent yearover-year in Bridle Path-Sunnybrook-York Mills and Hogg’s Hollow, while neighbouring St. Andrew-Windfields saw an even more impressive increase of just over 69 per cent.
Much of the momentum was driven by buyers at the very top end of the market. In Bridle Path-Sunnybrook-York Mills and Hogg’s Hollow, nine of the 16 luxury sales surpassed the $5 million mark, pushing the average price for homes over $2 million to more than $5.48 million. This made the area the highest-valued neighbourhood among the 14 communities surveyed this year.
In St. Andrew-Windfields, 22 homes changed hands between January and April, with just under half selling for more than $3 million. While buyer interest remained healthy, average values softened by 13.5 per cent yearover-year, settling at just under $3.65 million.
Despite strong demand across these sought-after areas, well-known for their expansive homes and generous lots sizes, buyers took their time to find the right home. Average days on market were on the higher side, coming in at 40 days in St. Andrew-Windfields and 50 days in the Bridle Path-Sunnybrook-York Mills.
Forest Hill South, Humewood-Cedarvale (C03)
Humewood-Cedarvale continued to resonate with younger families in the first four months of 2026, but a limited supply of homes listed for sale hampered homebuying activity. Seven freehold homes sold in the area year-to-date, up from six during the same period in 2025. Average price, however, fell 16 per cent to almost $2.4 million, reflecting greater sales at more affordable price points this year. Despite softer pricing, market conditions remained competitive, with most properties moving within eight days and close to full list price.
In Forest Hill South, sustained demand for location and premium properties translated into stronger sales momentum. Fourteen properties were sold between January and April, representing an almost 28 per cent increase over the same period in 2025. While seven homes traded below the $5 million threshold, five were sold above the $5 million price point. Average price moved in tandem with sales activity, rising five per cent year over year to over $4.5 million. Homes spent an average of 28 days on the market in Forest Hill South, selling for approximately 94 per cent of list price.
Forest Hill South
Humewood-Cedarvale
$7.5
Average Sold Price 2026 $4,505,838
Average Sold Price 2025 $4,281,938 5.23% Year-over-year
Average Sold Price 2026 $2,394,003
$2,860,020
SOLD | 157 Forest Hill Road
Yonge-St. Clair, Casa Loma, Annex (C02)
While the Annex, Casa Loma, and Yonge-St. Clair stood out in the GTA’s luxury housing market one year ago, sales activity moderated somewhat in the first four months of 2026. A total of 31 properties sold across the Toronto Regional Real Estate Board’s C02 district, down from 49 during the same period last year. Much of the slowdown was concentrated in the Annex, where sales declined by nearly 53 per cent.
Exceptionally low inventory in the Annex contributed to heightened competition, with homes typically selling for 107 per cent of list price. Despite these conditions, average price fell 19 per cent year over year. The decline was influenced by a lack of high-end transactions, with only one sale above $3 million and none exceeding $5 million.
Casa Loma saw modest improvement in sales activity, with 12 homes sold between January and April of this year, up slightly from 11 sales one year earlier. Properties generally moved within three weeks and sold for approximately 97 per cent of list price. Average price rose 15 per cent to just over $4.32 million, up from $3.75 million in the same period last year, supported by the sale of two homes above $5 million.
Homebuying activity in the popular Yonge-St. Clair neighbourhood remained in line with year-ago levels, with 11 properties sold in the first four months of 2026. Average price held steady at approximately $3.2 million, representing a nine per cent increase compared to the same period in 2025.
Yonge-St. Clair
January
Casa Loma
January
Annex
$3,203,091
Bedford Park, Lawrence Park, Lytton Park, Forest Hill North (C04)
Toronto Regional Real Estate Board’s C04 district maintained strong upward momentum in the first four months of the year, with Bedford Park-Nortown, Lawrence Park South, Lawrence Park North, and Forest Hill North all reporting an upswing in homebuying activity.
In Bedford Park-Nortown, tighter market conditions fueled above-average demand, particularly at lower price points where properties were quickly absorbed. A total of 28 homes sold above $2 million in 2026, an increase of nearly eight per cent year over year. Homes sold swiftly, spending an average of just 10 days on the market and achieving 99 per cent of list price.
Lawrence Park remained highly sought-after, with combined sales in the North and South areas approaching 50 transactions, up 41 per cent compared to the same period last year. While homes in both areas averaged 23 days on the market, performance varied slightly between the two; sellers in Lawrence Park North achieved full list price while those in Lawrence Park South realized 96 per cent. Average price climbed four per cent to just over $2.7 million in Lawrence Park North, while Lawrence Park South values eased to $3.245 million, reflecting fewer transactions at the upper end of the market.
Meanwhile, younger buyers played a key role in driving demand in the more accessible Forest Hill enclave. Sales above $2 million more than doubled year over year, with 14 sales recorded between January and April, compared to just six during the same period in 2025. With an average price of just over $2.87 million, homes continue to attract strong interest, selling in an average of 18 days.
BUILDER’S OWN IN LAWRENCE PARK
Offered at $3,895,000
Bedford Park-Nortown
January
$2
Lawrence Park North
$2
$5
$7.5
Lawrence Park South
January 1st - April 30th, 2026 vs. same period
Forest Hill North
January
January 1st - April 30th, 2026 vs. same period in 2025
Average Sold Price 2026 $2,865,322
Average Sold Price 2025 $3,385,157 -15.36% Year-over-year
$2,711,080
$2,602,510 4.17% Year-over-year
Average Sold Price 2026
$3,154,007
Leaside (C11)
Stability continues to be the hallmark of the Leaside community, with luxury sales slightly ahead of year ago levels in the first four months of the year. Twenty-three homes changed hands yearto-date, up almost five per cent from 2025 levels.
Affordability was top of mind for buyers in the area this year, with most of the homebuying activity concentrated under the $5 million price point. Average price hovered at just over $3 million, down approximately three per cent from the same period in 2025.
The area is a perennial favourite thanks to cafes, restaurants, and shops along bustling Bayview Avenue, alongside proximity to top-ranking public and private schools including Crescent School, Branksome Hall, Sunnybrook and York.
January 1st - April 30th, 2026 vs. same period in 2025
SOLD | 165 Leacrest Road Represented seller & buyer
Rosedale, Moore Park (C09)
Year-to-date luxury home sales in the highly sought-after Rosedale-Moore Park neighbourhood surged in 2026, with activity above the $2 million price point rising 58 per cent year over year. In the first four months of the year, 30 homes sold for more than $2 million, compared to 19 sales during the same period in 2025. Strength was even more pronounced at the upper end of the market, with seven properties selling above $5 million, including one transaction exceeding $7.5 million.
Reflecting these higher price points, homes spent an average of 32 days on the market. Average sale price climbed nearly five per cent year over year to just under $4 million, up from approximately $3.8 million in the same period last year.
Rosedale’s close proximity to the downtown core, along with its renowned shops and restaurants, continues to attract discerning buyers to one of Canada’s most prominent residential communities.
Rosedale, Moore Park
January 1st - April 30th, 2026 vs. same period in 2025
$3,766,116 4.60% Year-over-year
RENOVATED ROSEDALE GEORGIAN Offered at $6,950,000
Banbury-Don Mills (C13)
With a solid supply of entry-level luxury homes available, homebuying activity surged in Banbury and Don Mills this year. A total of 22 homes sold above the $2 million price point, representing a 62.5 per cent increase over year-ago levels. Detached homes on large-sized lots continue to attract purchasers, especially given the area’s proximity to top-ranking public and private schools, including Denlow, Crescent and Crestwood.
Slightly softer values have also supported the increase in activity, with average prices dipping to just below $3 million in the first four months of the year, down four per cent compared to the same period in 2025. As a result, buyers have been able to take a more measured approach to purchasing a home in Banbury, Don Mills, given that most properties are spending an average of 38 days on market and typically sell for 96 per cent of list price.
Banbury-Don Mills
January 1st - April 30th, 2026 vs. same period in 2025
Luxury Condominiums (GTA)
While condominiums have dominated headlines over the past year, Toronto’s luxury condo segment continues to show resilience as empty nesters, young professionals and security-conscious buyers flock to the city’s welllocated mansions in the sky. Although sales of condominiums fell just short of year ago levels (47/48), differences were noted in the top end in 2026 with four sales occurring over $5 million (including one over $10 million).
Both luxury condominium apartments and townhouses are experiencing demand, but condo apartments continue to outperform townhomes (39/8). Overall average price has increased year-over-year, up almost 16 per cent to approximately $3.15 million in the first four months of 2026.
Toronto’s downtown core remains the primary destination for luxury condominium buyers. The Annex, Yorkville, the Bay Street Corridor and Waterfront Communities continue to draw the lion’s share of buyers, representing 53 per cent of total sales (25/47). Neighbourhood developments are the next popular option, with condominium sales in Yonge-St. Clair, Bridle Path, Sunnybrook, York Mills, Bedford Park-Nortown and Lawrence Park South making up 25 per cent of sales.
Luxury Condominiums
January 1st - April 30th, 2026 vs. same period in 2025
Average Sold Price 2026 $3,155,020 Average Sold Price 2025 $2,727,067 15.69% Year-over-year
Homes Outside Central Toronto
$691,424,800
$214,290,000 $106,125,000 $90,658,002
$1,073,785,300
$284,815,000 $193,681,678 $169,083,600
$1,989,245,511
$799,552,233 $385,860,000 $372,833,051
$3,154,840,699
$2,082,162,981 $1,060,086,388 $1,018,395,395
Why More Sellers Choose Us?
Barry’s Market Insight
Price Validation from Brand Reputation
Specialized Product Knowledge
Custom & Effective Marketing Strategies
Client Concierge for Staging & Repairs
Multicultural Team
Forbes’ Global Reach Exclusive to Cohen
Unparalleled Service
Unrivalled Pricing & Negotiation Strategies
Massive Organic Social Following
Most importantly, We represent More Sellers than any competitor which allows us to generate More Buyers, more offers, higher prices, and ultimately More Sales!
Farzad Ghazi Sales Representative
Barry Cohen President/Broker
Olga Donchenko Sales Representative Ashley Correia Sales Representative
Sasha Firestone Sales Representative Irina Garanina Sales Representative
Tyler Cohen Sales Representative
Simone Chen Broker
Nasim Alishahinorani Broker
Nicole Araie Broker
Justin Cohen Broker
Nima Hafezian Sales Representative
Aaron Luftspring Sales Representative
Margarita Krasnov Sales Representative
Kyle Konopelky Sales Representative
Evelyn Li Broker
Kevin Kaveh Sales Representative
Melissa Heffernan Broker Wendy Joffe Sales Representative
Diana Mendonca Broker
Lance Stoute Broker Of Record
Patricia Sun Sales Representative
Al Pirdavari Sales Representative
Adam Sajjadian Broker Daniel Reihani Sales Representative Navid Sharifzadeh Broker Paul Weber Executive Vice President
Karyss Butcher Sales Representative