A luxury estate in Canada listed for $28.8M just sold in a record-breaking sale
A luxury estate in Toronto's ritzy the Bridle Path is officially off the market in a record-shattering sale.
The 13,000-square-foot French Provincial estate was listed for a cool $28.8 million, and it was on the market for only three weeks in July and August before an unnamed buyer snatched it up.
Although the exact dollar amount of the sale hasn't been released, it topples the previous GTA high of $22 million set in August 2016, according to realtor Barry Cohen.
Cohen credits the luxury estate's Zen courtyard, spa-like pool, waterfall, exercise area and massage room with attracting prospective buyers from Canada and abroad.
Cohen added that the sprawling estate is the 10th property to sell in the GTA over $10 million so far this year, marking a notable increase compared to 2019.
"June marked an extraordinary shift in homebuying activity, particularly at the top end of the market," Cohen said in a press release.
"Strong demand, fuelled by both local buyers and more recently, families from abroad, combined with a limited inventory of luxury product throughout the GTA, has created one of the most challenging markets to date in the uber-luxe segment."
And the luxury market shows no sign of slowing down.
"Given tight market conditions throughout the GTA, activity in the upper-end is expected to remain robust for the foreseeable future," said Cohen.
He added that 2020 is shaping up to be the best year for luxury home sales since 2017.
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