Despite overall pressure on the housing market, more than 3,600 homes in Toronto and the GTA were sold for over $2 million in 2025, with the most expensive luxury property reaching $27.32 million, demonstrating remarkable resilience in the high-end segment.
Latest data from the Toronto Regional Real Estate Board (TRREB) shows that as of November 2025, a total of 3,654 properties in Toronto and the Greater Toronto Area (GTA) were sold for more than $2 million.
Real estate agents note that the data indicates overall stability in the luxury market. However, they also caution that the repeated increases in Toronto’s land transfer tax on homes priced above $3 million are impacting the market, with the tax rate set to rise by another 4.4% in 2026.
Paul Maranger and Christian Vermast, Executive Vice Presidents of Sales at Sotheby’s International Realty Canada, stated: “First, the ultra-luxury market above $5 million is performing very, very well—even surprisingly so.” They also noted: “The high-end market has indeed been affected by the current non-resident home purchase ban (i.e., the foreign buyer ban), which will remain in effect until January 1, 2027.”
Below are some of the highest-priced residential properties sold in Toronto in 2025:
60 Alexandra Wood
Sale Price: $7.9 million
Located in the Lytton Park neighborhood, the property spans over 6,200 square feet. The primary suite features a six-piece bathroom and a walk-in closet. The four-bedroom home also includes a wine cellar, a gym with a sauna, a home theater, and a backyard garden with a saltwater pool. This sale price set the highest record for the neighborhood in 2025.
37 Strathearn Rd.
Sale Price: $9,191,094
This residence backs onto Cedarvale Ravine, offering rare access to natural surroundings. The home spans approximately 8,500 square feet and features five bedrooms and seven full bathrooms. The basement is described as an “entertainment paradise,” complete with a game room, a spa area, and leisure spaces.
152 Walmer Rd.
Sale Price: $9.75 million
Located in Toronto’s highly sought-after Annex neighborhood, this home underwent a modern renovation while preserving its original structure. Spanning nearly 5,000 square feet, it features four plus one bedrooms, seven bathrooms, a kitchen with a quartzite island, a steam and infrared sauna, an in-law suite, and an extensive wine cellar.
43 Old Forest Hill Rd.
Sale Price: $10.425 million
Located in the upscale Forest Hill neighborhood, this property spans 8,450 square feet and features four plus one bedrooms, five full bathrooms, and two powder rooms. It includes a fitness room, a home theater, a children’s play area, and a resort-style backyard swimming pool. While preserving its historic exterior, the interior is designed with a sleek, ultra-modern aesthetic.
52 Fifeshire Rd.
Sale Price: $10.8 million
Situated on a rare 100-foot-wide private ravine lot overlooking St. Andrews Park, this home features a heated driveway, dual kitchens, and a luxurious primary suite with a custom spa bathroom. The total living area spans approximately 13,000 square feet.
228 Dunvegan Rd.
Sale Price: $11.9 million, Located on one of Forest Hill’s most prestigious streets, this newly constructed home features six bedrooms and nine bathrooms. Notable highlights include a six-car underground garage, offering exceptional security and privacy.
11 Thornwood Rd. (Thornwood House)
Sale Price: $16.18 million
Located in the heart of Rosedale, this home spans over 9,500 square feet and features five bedrooms and eight bathrooms. Highlights include a private ravine garden, an outdoor fireplace, a soundproof music studio, and a luxurious primary suite.
20 / 22 Park Lane Circle
Sale Price: $27.325 million
Located in The Bridle Path, this property spans four acres and represents the highest-priced residential sale recorded by TRREB in 2025. It features six bedrooms and multiple full bathrooms, and includes amenities such as an indoor swimming pool, a library, garden walkways, and ravine views.
Ranking of the Most Expensive Neighborhoods in the GTA
The digital real estate platform Wahi compiled the top 10 highest-priced neighborhoods in the GTA in 2025 (excluding areas with fewer than 10 transactions):
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The Bridle Path: Median price approximately $4.4 million
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Lawrence Park: Approximately $3.34 million
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Moore Park: Approximately $3.28 million
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Bennington Heights (East York): Approximately $2.875 million
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Ledbury Park: Approximately $2.67 million
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York Mills: Approximately $2.6 million
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Bayview Hill (Richmond Hill): Approximately $2.585 million
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Windfields: Approximately $2.5 million
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Kingsway South (Etobicoke): Approximately $2.42 million
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Eastlake (Oakville): Approximately $2.35 million
In terms of transaction volume, York Mills recorded 116 sales in 2025, with an average time on market of 34 days, while Oakville Eastlake saw 110 sales, averaging 41 days on market.
2026 Market Outlook
RE/MAX predicts that declining interest rates in 2026 will provide some support to the Toronto real estate market, though national home prices could still fall by 3.7% by year-end amid economic uncertainty.
Maranger noted that while 2025 was not a “record-breaking year,” it remained stable overall due to a delayed spring market. Vermast added, “The biggest difference between 2026 and 2025 is that people have decided to move forward with their lives. We anticipate a true spring market emerging.”
RE/MAX highlighted that due to high costs, numerous development projects have been delayed or canceled, which may continue to constrain new housing supply.
Looking ahead to 2026, RE/MAX stated that first-time buyers are primarily focused on homes priced below $750,000, with many relying on parental assistance for down payments. Move-up buyers are concentrated in the $750,000 to $2 million range, while retirees are mostly purchasing homes below $1.5 million, tending to downsize or help their children enter the market.