5 of the most expensive homes that sold in the GTA in July

Aug 2 2022, 9:40 pm

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.

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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