Toronto's seen a surge in sales of fully detached homes over $1M, and limited inventory, low interest rates and high consumer confidence—plus the influence of foreign buyers, particularly from mainland China—will continue to drive the market this fall, says a report from Sotheby's International Realty. Expect further price gains, pre-emptive and multiple offers, and sales above list price. And Sotheby's anticipates increased competition for detached homes will heighten demand in the $1M-plus attached home and condo markets, and lead to growth in the $1M-plus segment in emerging high-end nodes in the city’s northern end, like York.
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