Luxury home-buying activity accelerated early in the year but economic uncertainty stifled burgeoning housing markets. 

Over the past year, Toronto has quickly seen townhomes become one of the most sought-after properties in the GTA due to a large majority of the population having to work remotely.

Luxury home sales more than $3 million set a new record in the GTA, with the number condo and freehold properties sold in 2020 topping peak 2017 levels.