5 of the most expensive homes that sold in the GTA in July
As interest rates rise, home sales and prices have fallen across the Greater Toronto Area.
According to recent statistics from the Canadian Real Estate Association (CREA), national home sales fell 23.9% in June on a yearly basis, led particularly by declines in the GTA.
The aggregate composite MLS Home Price Index (HPI) for the region dipped to $1,204,900 in June, down from $1,261,800 in May.
Even luxury properties have taken a hit, with many selling under asking. In fact, some of the most expensive homes that changed hands in the GTA last month fetched at least $90,000 under the listed price.
Real estate agency Zoocasa has rounded up five of the priciest properties that sold in the GTA in July. While still selling for upwards of $4,000,000, they’re significantly cheaper than the most expensive GTA homes that sold in June. Check them out below.
1. 238 Forest Hill Road | $5,660,000
Forest Hill Real Estate
Forest Hill Real Estate
Forest Hill Real Estate
Forest Hill Real Estate
- four bedrooms
- five bathrooms
- five parking
The most expensive home sold in the GTA last month is a “timeless” and “stately” Georgian Style home. It has large principal rooms that offer a perfect flow for formal entertaining and a private landscaped garden. It sold in a week for $90,000 under asking after two prior listings (in February and May) priced it above $6,000,000.
2. 96 Summerhill Avenue | $4,398,000
Chestnut Park Real Estate Limited
Chestnut Park Real Estate Limited
Chestnut Park Real Estate Limited
Chestnut Park Real Estate Limited
- five bedrooms
- five bathrooms
- one parking
This stylish and meticulously renovated home has been finished with the highest attention to detail. It features a spacious chef-designed kitchen, a dedicated home gym, a rec room with heated floors, and a green roof. As with the previous home, it sold for $90,000 under asking, although it took six weeks to do so.
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3. 113 Yorkminster Road | $4,101,800
RE/MAX West Experts
RE/MAX West Experts
RE/MAX West Experts
RE/MAX West Experts
- four bedrooms
- seven bathrooms
- six parking
Charming and elegant, this St. Andrew-Windfields area home offers the utmost privacy thanks to mature trees and a 107-foot wide backyard. The backyard also includes a waterfall pool and a three-piece bath, while you can find a renovated gourmet kitchen, home office, and spacious primary suite indoors. The home sold in just four days but fetched $248,200 under asking.
4. 211 Carmichael Avenue | $4,050,000
Harvey Kalles Real Estate
Harvey Kalles Real Estate
Harvey Kalles Real Estate
Harvey Kalles Real Estate
- four bedrooms
- six bathrooms
- six parking
This custom-built Bedford Park home features large principal and dining rooms, a gourmet kitchen with an expansive breakfast area, and a south-facing backyard with a pool and a cabana. Following two previous, pricier listings, the home sold in just under three weeks for $145,000 below the asking price.
5. 25 Mildenhall Road | $4,050,000
Forest Hill Real Estate
Forest Hill Real Estate
Forest Hill Real Estate
Forest Hill Real Estate
- three bedrooms
- four bathrooms
- six parking
Reminiscent of a French chateau, this custom-built Lawrence Park home has only been lived in by one family. It features a soaring foyer, a grand living room with a fireplace, two staircases, and a generous family room known as “The Barn.” As with the other properties on this list, it sold under asking — $749,000 under, to be exact, in just under two months.
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