Canada’s most populous and coveted city is famous for its luxury homes. In 2021, Toronto luxury homes sold at an unprecedented rate, closing at 41 $10 million plus and 425 $5 million-plus sales. This, as expert Toronto luxury brokerage Barry Cohen Homes explains, is not out of place for Toronto. Homebuyers flock to the city every year because of the unmatched opulence of its residential properties. And if you are looking to join the club, you should begin your search in these neighborhoods.
Bridle Path, Yorks Mills, and Sunnybrook
Jointly known as the Milionaire’s Mile, Bridle Path, Yorks Mills, and Sunnybrook make up the most exclusive and expensive part of Toronto. The northern neighborhoods are famous for their expansive lots, famous residents, and multi-million dollar estates. Big names like Drake, Margaret Thatcher, and Elton John have made the Mile their home over the years, and the average sales price in 2021 was $5.7 million – the highest in the city.
The crème de la crème of these neighborhoods is Bridle Path, which comprises some of the most sought-after Toronto luxury real estate within the trinity. The lots are beyond large and secluded, and the rich and serene Don River valley surrounds the community. To its northeast, Bridle Path is neighbored by York Mills, which boasts rolling lawns and extensive greenery and affluence.
Sunnybrook is famous for its security, amazing schools, and ample space. It is the option most popular with families and is home to many historic families and homes. And while Sunnybrook still maintains the seclusion of a tucked-up countryside neighborhood, it remains close to downtown Toronto, granting it both the unequaled access and isolation that have led to it being called a “country in the city.”
Rosedale
Rosedale is located north of downtown Toronto and is one of the oldest neighborhoods in the city. Its history and charm are, in fact, part of why the neighborhood is one of the most coveted locations in the country. Divided into North and South, Rosedale features elegant homes, timeless architecture, ravine landscapes, and small winding streets. It is even listed as a Heritage Conservation site. Of the $5 million-plus home sales in 2021, Rosedale accounted for over 30 listings.
Forest Hill
In the 1920s, the residents of Forest Hill passed by-laws that required all the homes in the area to be designed by an architect and feature a tree at the front. These regulations morphed the area over the years into a stunning collection of stone and brick mansions with large, beautifully aged trees lining the streets. Like the first three neighborhoods we review, the neighborhood is also part of the famed Millionaire’s Mile. Residents enjoy isolation from the commercial traffic of downtown for the premium median price of about $4.7 million (2021).
Find a Toronto Luxury Home with Expert Barry Cohen
Arguably, the best perk of shopping for Toronto real estate is the variety – homebuyers enjoy a wide range of housing and neighborhood options. But if you are looking for luxury, begin your search nowhere else than in these exclusive neighborhoods. You can best do this and purchase your Toronto home with the help of expert broker Barry Cohen. Cohen has been working in the Toronto real estate market for over three decades and can help you find the luxury home of your dreams. Call his office today to learn more.