Sales of Luxury Homes Increase in the GTA

According to a Remax Ontario Atlantic Canada report, there were 1,706 luxury homes sales of $1 million or over in the greater Toronto area from January to September 2009, an increase of 1 per cent over the same period last year.

Amid a recession, the buyers of these million dollar homes are in fact local buyers. "A considerable shift is under way in the upper end," says Michale Polzler, executive vice president of Remax. "Conditions are more balanced across the board."

Read Tony Wong's full article "Sales of GTA luxury homes inch higher amid recession" (Toronto Star, November 3, 2009)