Current unrest in the real estate market is not market-wide. In fact, according to the CBC, "12 properties worth more than $10 million were sold in the Greater Toronto Area between January and June, seven of them in Toronto proper." That compares to just four sales in that category in the same period last year!
In the GTA, where listings have edged up more than 30% as average prices continue to fall and sales of condos over $1 million have fallen 29% year over year, Toronto's "ultra-luxury real estate market" is proving resilient with a 200% YOY increase in sales! As Warren Buffet once advised investors, "to be fearful when others are greedy and to be greedy only when others are fearful", the ultra rich investor seems to be exuding confidence and heeding his advice.
Bottom Chart: Orange=2025. Today's June MLS prices of GTA Homes are the lowest Average Price in more than 3 years.
