Toronto’s ultra-luxury real estate market is making headlines with a remarkable surge in sales for properties priced over $10 million—a sector that has tripled year-over-year in 2025, up 200% from the first half of 2024. While the broader market for homes above $1 million and $4 million has cooled—with double-digit declines in sales volumes—the top tier is seeing robust, exclusive demand, particularly for single-family homes in some of the city’s most prestigious old-money neighbourhoods.
Favoured areas like The Bridle Path, Forest Hill, Rosedale, York Mills, and The Kingsway remain in high demand among local end-user buyers prioritizing privacy, school access, and timeless architectural appeal. Interestingly, this surge comes despite economic uncertainty and tight lending, as ultra-wealthy buyers are capitalizing on softer conditions and focusing on rare properties poised for long-term value.
If you want to browse the latest ultra-luxury listings, see current availability for homes over $10 million in Toronto with this dedicated search.
Key trends shaping Toronto’s luxury market in 2025:
- Sales over $10 million have jumped to 12 properties in the first half of the year, up from just 4 the year before, even as sales of $1 million-plus and $4 million-plus homes are down 23% and 28% respectively.
- Ultra-luxury buyers are overwhelmingly domestic due to ongoing foreign buyer restrictions, and most $10 million-plus sales are freehold homes, with the condo segment lagging.
- Many elite deals are happening off-market, with ultra-high-net-worth individuals valuing discretion and exclusivity.
- Single-family homes dominate: In 2025, no $10 million-plus condos changed hands publicly; all such sales involved detached, estate-like homes.
Why does this matter? The extreme resilience of Toronto’s $10 million-plus segment highlights a clear divide in the real estate landscape and signals where confidence and wealth are most concentrated. If you’re considering selling or investing in this tier, focus on top-drawer locations, prepare for discreet negotiations, and expect fierce competition for the rarest offerings.
For a closer look at active ultra-luxury listings (with addresses and photos), access this live Toronto luxury homes $10M+ search on Homesfound.ca.
The $10M-plus club is setting Toronto apart in 2025—and it’s a story every serious buyer, seller, and investor should watch.
