Mizrahi Developments
News
Spring Real Estate Report | May 04, 2019
Luxury sales are going up
Across much of the Greater Toronto Area, the luxury market is not showing any signs of slowdown.
Oakville’s luxury market, for instance, is driven by “move-up buyers” and is expected to thrive in 2019, according to the RE/MAX 2019 Canadian Housing Market Outlook. Some buyers are moving away from more urban centres such as Toronto to embrace the livability of that area. Average residential sale prices there are projected to jump five per cent in 2019, from 2018’s $1,078,595. The market is particularly robust for homes beginning at the $2-million price point, according to the report.
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