Bidding war drives City of Toronto’s highest residential sale in close to half a decade, reflecting pent-up luxury demand
Sotheby’s International Realty Canada
TORONTO, Aug. 26, 2026 (GLOBE NEWSWIRE) — Sotheby’s International Realty Canada today announced the highest-value residential property sale in the history of Forest Hill South, one of Canada’s most prestigious luxury neighbourhoods. Listed by Jane Zhang, Broker and Senior Vice President of Sales in Toronto, the sale is the highest residential sale in the City of Toronto in close to half a decade through the Multiple Listing Service (MLS®).
Listed at $22,000,000 CAD, the award-winning residence designed by visionary Omid Taba of OE Design sold for $23,500,000 CAD after attracting three competing offers, reflecting resilient demand for premier single-family luxury residences in Toronto, despite softer housing market conditions in recent years.
“Top-tier luxury real estate is a sophisticated and educated market. The sale of this masterfully-designed estate is the most significant recorded sale in the history of Forest Hill. Set on a prominent corner lot, with expansive façades, grand proportions and commanding 270-degree views, every element of the property exudes luxury,” says Jane Zhang, Senior Vice President of Sales, Sotheby’s International Realty Canada. “Despite its prestigious position, challenging market conditions meant that we needed a strong marketing strategy and ultra-high-net-worth network to reach the right buyers. After taking over the listing from another brokerage, we updated the strategy to include smart digital and social media marketing across Toronto, Canada and international markets. These efforts helped attract several qualified buyers and competing bids, which achieved another record-breaking sale above the original asking price.”
Built in 2025, the gated residence offers 9,856 square feet of wellness-focused space across four levels, with bespoke craftsmanship, ultra-modern amenities, smart home automations, and turn-key conveniences throughout. The grand foyer features a sculptural floating mono-beam staircase, while curated glass dividers, textured wall paneling, designer lighting and floor-to-ceiling windows create luminous interiors and dimension. The chef’s kitchen features dual Lilac and Calacatta Viola marble islands, extensive collection of top-tier appliances, and an elegant servery pantry hall. The six-bedroom, eight-bathroom home also features boutique dressing rooms, heated floors, few wellness retreats, pet spa, nanny suite, gym, cinema, elevator, wine cellar, three wet bars, and five intimate lounges. Outdoors, the stunning backyard offers a resort-style setting with a pool, jacuzzi, water features, sculptural firepit, zen garden, landscaped lawns, outdoor kitchen, dining pavilion and a private courtyard.
“Toronto’s ultra-luxury single-family home market is well-positioned for activity to renew as we head into the fall market, particularly in the city’s most sought-after neighbourhoods,” said Mustafa Abbasi, President, Sotheby’s International Realty Canada. “While affluent buyers remain discerning, there is no doubt that demand has been building for some time, particularly for single family homes. This is the case not only in Toronto but in premier neighbourhoods across Canada.”
“Over the summer months housing market conditions have tightened in key neighbourhoods across the GTA. Demand for luxury single-family residences has also been remarkably resilient in the city’s prestigious, family-oriented neighbourhoods, particularly those convenient to exceptional schools and amenities,” said Ken Mazurek, Managing Broker with Sotheby’s International Realty Canada in Toronto. “This sale reflects the confidence that sophisticated buyers have in the long-term value of top-tier Toronto real estate and foreshadows an optimistic fall luxury market ahead.”
Further details of the sale of this estate remain private.
For more information on this property sale and Sotheby’s International Realty Canada contact:
Talk Shop Media
Kayla Moyes
kayla.moyes@talkshopmedia.com
(250) 218-9276
About Sotheby’s International Realty Canada
Combining the world’s most prestigious real estate brand with local market knowledge and specialized marketing expertise, Sotheby’s International Realty Canada is the leading real estate sales and marketing company for the country’s most exceptional properties. With offices in over 35 residential and resort markets nationwide, our professional associates provide the highest caliber of real estate service, unrivalled local and international marketing solutions and a global affiliate sales network of approximately 1,100 offices in 86+ countries and territories to manage the real estate portfolios of discerning clients from around the world. For further information, visit www.sothebysrealty.ca.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5f63da77-a4b0-4365-ab79-4a04ecd37472
