The Greater Toronto Area’s (GTA) luxury housing market shifted into high gear in the final quarter of 2024, with sales over $3 million climbing more than 40 per cent ahead of year-ago levels for the same period. Just over 360 freehold and condominium properties sold in Q4 2024, up from the 259 sales reported in Q4 2023, according to the latest RE/MAX Canada report.

Report Highlights

  • Sales in Toronto’s luxury home market recorded double-digit growth in Q4 2024.
  • There was a strong finish to the year, with sales luxury homes priced $3M+ up over 40% in Q4.
  • Sales $5M+ led the charge in Q4, up 58.5% year-over-year.
  • Sales in Q4 represented one-quarter of total luxury activity, up from 17.7% at the same time last year.
  • Rosedale and Forest Hill South proved most popular, especially in the final quarter with 13 sales $5M+ in Rosedale and 7 in Forest Hill.
  • In 2025, the momentum is expected to continue to increase, as more buyers move into the market.

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