Sales of Toronto Luxury Homes were up 34 per cent in the first half of 2014 according to a recent Real Estate report.
Homes that cost at least $1 million are booming in Canada’s four largest cities, Toronto, Vancouver, Calgary and Montreal.
In the first half of 2014 Luxury Home sales in the million-dollar-plus category increased more than 30 per cent in Toronto and Vancouver compared to the same time last year.
Many of these same Luxury Homes sold above the listed price showing the demand for these Homes.
The most expensive Luxury Home sold in Canada was in Vancouver listed at $15 million.
Increased consumer confidence, low mortgage lending rates and strong economic results are expected to increase all Real Estate Markets towards the end of 2014.
Toronto Home And Condo Average Price Mid-June:
Toronto Detached Homes average price $941,813 Up 7.5%
Toronto Semi-Detached Homes average price $702,782 Up 10.3%
Toronto Townhouse average price $485,394 up 7.2%
Toronto Condos average price $397,942 Up 5.7%