Luxury home prices continue to see record highs in in Toronto and GTA, as the influence of being able to work from home is still driving buyers away from living in high density areas.
Low interest rates also remain in play, allowing buyers to realize the affordability of owning a larger property, which further reinforces this trend.
While current sales can not be sustained indefinitely we do not see a fall in price points during 2021, mainly because inventory levels continue to be at an all-time low across many luxury communities.
In the detached market, the luxury market saw:
In the attached market, the luxury market saw:
It is important to remember that for the second half of March, we are comparing against the initial impact of COVID-19 in the second half of March 2020 when sales activity stopped.
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