Luxury Condos North York: A Guide to the Upper End of the Market

Nobody officially defines a luxury condo in North York. The Toronto Regional Real Estate Board (TRREB) publishes no luxury category. No price line in its reports marks where one begins. Its figures do show where the higher-priced condo sales sit. In the second quarter of 2026, district Toronto C12, which covers York Mills, recorded 18 condo apartment sales at an average price of $1,603,889 and a median of $1,112,500. The City of Toronto average for the same quarter was $667,916.

We work from those recorded figures and from government sources. Below you will find what to read before buying a larger or higher-priced unit, what the two land transfer taxes come to at higher prices, how the down payment rules change at $1.5 million and where to look. The legal, tax and mortgage sections are general information, so check your own case with a lawyer, an accountant or a mortgage professional.

There is no definition of luxury

A seller puts “luxury” on a listing. TRREB’s reports have no such category. Two units with the same label can differ in size, age, floor and monthly cost.

So we set no price at which a condo becomes a luxury condo. We do not rank buildings either. We use price as TRREB records it, by district and by community, with the number of sales beside each figure.

TRREB also publishes no figure for North York as a whole. The districts named below are the ones whose communities fall inside the former City of North York on the City of Toronto’s boundary file. Some of them also take in communities outside it. We say so where it matters.

The higher-priced sales in TRREB figures

The table shows condo apartment sales for the second quarter of 2026 from TRREB’s Condo Market Report.

TRREB district	Sales, Q2 2026	Average price	Median price
Toronto C12	18	$1,603,889	$1,112,500
Toronto C04	45	$926,411	$675,000
Toronto C07	101	$619,683	$580,000
Toronto C13	75	$611,065	$550,000
Toronto C14	174	$597,444	$570,000
Toronto C15	180	$588,484	$530,000
City of Toronto	3,174	$667,916	$560,000

Toronto C12: York Mills

C12 has two TRREB communities, Bridle Path-Sunnybrook-York Mills and St. Andrew-Windfields. It is the one North York district where the average condo apartment price for the quarter topped $1 million. Few sales sit behind that average. Of the 18 sales, 15 were in Bridle Path-Sunnybrook-York Mills and 3 were in St. Andrew-Windfields. C14 recorded 174 sales in the same three months.

The C12 average is $491,389 above the C12 median. A gap that size shows up when a few sales close far above the middle of the group. With 18 sales, each one moves the average.

The monthly figures rest on even fewer sales. In August 2026 TRREB’s Market Watch shows 3 condo apartment sales in C12, with an average of $1,769,100 and a median of $1,659,500. There were 3 new listings that month, 12 active listings and an average of 57 days on market for the units that sold. Three sales describe three units. They do not give the price of the area.

Condo townhouses in C12 look the same. There were 2 sales in August 2026 at an average of $1,389,000.

Toronto C13: Don Mills

C13 takes in Banbury-Don Mills, Parkwoods-Donalda and Victoria Village. Its second quarter average of $611,065 on 75 sales is below the City of Toronto average, so any higher-priced units here are only part of the sales and do not show in the district figure. Banbury-Don Mills accounted for 50 of the 75 condo apartment sales. In August 2026 the district had 23 sales at an average of $704,130 and a median of $615,000.

Toronto C04: Yonge and Lawrence

C04 recorded 45 sales at an average of $926,411 and a median of $675,000. Take care with this one. The district includes Forest Hill North and Lawrence Park South, which are outside the former North York boundary. Inside the area this site covers, TRREB counted 13 condo apartment sales in Bedford Park-Nortown, 20 in Englemount-Lawrence and 2 in Lawrence Park North.

TRREB notes that its sales and prices are firm transactions entered in its MLS System during the period and that past monthly figures are revised each month. Our North York condo prices page has figures for every North York district.

Penthouses in North York

TRREB’s reports have no penthouse category. Our sources give no count of penthouse sales and no penthouse price, so we quote none. Like “luxury”, the word is a label on a listing.

The figures do show how few large units change hands. TRREB defines a North York City Centre sub-market made up of districts C07 and C14. In the second quarter of 2026 it recorded 22 three-bedroom sales there, beside 85 two-bedroom sales, 62 two-bedroom plus den, 66 one-bedroom plus den and 40 one-bedroom. If you want a large unit, you are choosing from a small part of the market.

You assess a penthouse with the same documents as any other unit. The declaration tells you whether a terrace or rooftop space is part of the unit or a common element. The status certificate shows the common expenses for that unit. Current condo apartment listings are on the condo search page.

Checking a larger or higher-priced unit

The same documents matter at any price. Skipping them just costs more at a higher one.

The status certificate

The Condominium Authority of Ontario says anyone can request a status certificate. The condominium corporation can charge up to $100 including all applicable taxes and must provide it within 10 days. Inside you will find:

• the declaration, by-laws and rules
• the current budget and the last audited financial statements
• a statement on the reserve fund and the most recent reserve fund study
• the common expenses for the unit and any arrears
• common expense increases and special assessments
• the insurance certificate
• outstanding judgments and litigation

Have a lawyer review it and ask how your offer should handle that review.

The reserve fund study

The reserve fund is the account a condominium corporation keeps solely for major repairs and replacements of common elements and assets. A comprehensive study, called Class 1, must be completed within the first year after the declaration and description are registered. After that a study is required at least every three years, alternating between a Class 2 study with a site inspection and a Class 3 study without one. When the board proposes a funding plan it must send owners a notice of future funding within 15 days.

Look at the date and class of the latest study and at what the status certificate says about the fund.

What the fees cover

We quote no fee levels because no primary source gave any. The amount for a given unit is the common expenses figure in the status certificate. The budget that comes with it sets out what those expenses pay for. Compare units on those documents, not on a listing summary.

Parking and lockers

Buildings hold parking spaces and lockers in different ways. Check the declaration and ask your lawyer to confirm exactly what the sale includes. For buyers subject to Ontario’s Non-Resident Speculation Tax, condominium parking and storage units have been included in that tax since March 27, 2024.

The steps for an ordinary purchase are in the North York condo buying guide.

Land transfer tax at higher prices

North York is part of the City of Toronto, so you pay two taxes, Ontario land transfer tax and the Toronto municipal land transfer tax.

Up to $2,000,000 the two use the same brackets: 0.5% on the first $55,000, 1.0% from $55,000 to $250,000, 1.5% from $250,000 to $400,000 and 2.0% above $400,000. The first three brackets add up to $4,475.

Above $2,000,000 the rates split, for property that contains one or two single family residences:

• Ontario charges 2.5% on the amount over $2,000,000.
• Toronto charges 2.5% from $2,000,000 to $3,000,000. From April 1, 2026 it charges 4.40% from $3,000,000 to $4,000,000, 5.45% from $4,000,000 to $5,000,000, 6.50% from $5,000,000 to $10,000,000, 7.55% from $10,000,000 to $20,000,000 and 8.60% above $20,000,000.

For all other property Toronto’s rate stays at 2.0% above $400,000.

The City page that sets out the higher tiers does not say whether a single condominium unit counts as a single family residence for this purpose. The table shows both results above $2,000,000. Ask a lawyer which one applies to the unit you are buying.

Purchase price	Ontario tax	Toronto tax	Both
$1,000,000	$16,475	$16,475	$32,950
$1,500,000	$26,475	$26,475	$52,950
$2,000,000	$36,475	$36,475	$72,950
$2,500,000, one or two single family residence rates	$48,975	$48,975	$97,950
$2,500,000, 2.0% above $400,000	$46,475	$46,475	$92,950
$3,500,000, one or two single family residence rates	$73,975	$83,475	$157,450
$3,500,000, 2.0% above $400,000	$66,475	$66,475	$132,950

Here is the arithmetic for the $3,500,000 row at the residence rates. Ontario: $4,475, plus 2.0% of $1,600,000, plus 2.5% of $1,500,000, which is $4,475 + $32,000 + $37,500. Toronto: $4,475, plus 2.0% of $1,600,000, plus 2.5% of $1,000,000, plus 4.40% of $500,000, which is $4,475 + $32,000 + $25,000 + $22,000.

Toronto also charges an administration fee of $102.56 plus HST on each transaction. Run other prices through our land transfer tax calculator.

Down payment at $1.5 million and above

Since December 15, 2024 the price cap for insured mortgages has been $1.5 million. The federal minimum down payment rules use the same line:

• up to $500,000: 5% of the price
• $500,000 to under $1.5 million: 5% of the first $500,000 plus 10% of the portion above it
• $1.5 million or more: 20% of the price

A down payment under 20% typically needs mortgage loan insurance. That insurance is not available at $1.5 million or more. The jump at the line is large. A $1,400,000 purchase has a minimum of $115,000, which is $25,000 plus $90,000. A $1,500,000 purchase has a minimum of $300,000. A $2,000,000 purchase has a minimum of $400,000.

These are federal minimums. A lender sets its own terms, so talk to a mortgage professional before you set a budget. Our mortgage calculator shows payments at different down payments.

Property tax

The City of Toronto’s 2026 residential rate is 0.767311% of assessed value. That combines the City rate of 0.605295%, the education rate of 0.153000% and the City Building Fund at 0.009016%. The City’s own example is an assessment of $692,140, which produces a bill of $5,311. The rate applies to the assessed value on the tax bill, which can differ from the price you pay, so ask the seller for the current bill.

If you are a non-resident buyer

Two separate rules apply. You may be caught by both.

Federal purchase ban. The Prohibition on the Purchase of Residential Property by Non-Canadians Act has been in effect since January 1, 2023 and was extended to January 1, 2027. It applies to residential property in census metropolitan areas and census agglomerations. The penalty is a fine of up to $10,000 and a court may order the property sold. Exceptions include certain temporary residents, refugee claimants and purchases with a Canadian spouse or common-law partner. We give the end date as published and say nothing about what follows it.

Ontario Non-Resident Speculation Tax. The rate is 25% and it applies to residential property anywhere in Ontario bought by foreign nationals, foreign corporations and taxable trustees. Condominium units are included. A rebate is available where a foreign national becomes a permanent resident within four years. The City of Toronto’s land transfer tax page also shows a Municipal Non-Resident Speculation Tax of 10% of the purchase amount, with its own rebate.

Have a lawyer confirm whether either rule applies before you sign an offer.

Where to look

Each area below has its own guide. We stick to recorded facts.

York Mills. TRREB communities Bridle Path-Sunnybrook-York Mills and St. Andrew-Windfields, district C12. York Mills Station on Line 1 is at 4015 Yonge Street, with a GO bus terminal and entrances through York Mills Centre. In the 2021 Census 1,020 of the 3,300 occupied dwellings in the City’s Bridle Path-Sunnybrook-York Mills neighbourhood were condominiums. In the second quarter of 2026, 15 of the community’s 40 sales were condo apartments and 22 were detached houses. St. Andrew-Windfields recorded 3 condo apartment sales and 9 condo townhouse sales.

Bayview Village. TRREB community Bayview Village, district C15. Bayview, Bessarion and Leslie stations on Line 4 are in the area. The 2021 Census counted 6,900 condominiums among 10,455 occupied dwellings. In the second quarter of 2026 the community had 83 condo apartment sales and 15 condo townhouse sales out of 118 sales.

Yonge and Sheppard. TRREB communities Lansing-Westgate in C07 and Willowdale East in C14. Sheppard-Yonge Station at 20 Sheppard Avenue West is the interchange between Line 1 and Line 4. Willowdale East recorded 153 condo apartment sales out of 214 sales in the second quarter of 2026 and Lansing-Westgate recorded 26 out of 51.

Don Mills. TRREB community Banbury-Don Mills, district C13. There is no subway station in Banbury-Don Mills north of Eglinton Avenue. Don Valley Station on Line 5 is at 1175 Eglinton Avenue East. The 2021 Census counted 4,645 condominiums among 12,215 occupied dwellings and TRREB recorded 50 condo apartment sales out of 90 sales in the second quarter of 2026.

Yonge and Lawrence. TRREB communities Bedford Park-Nortown and Lawrence Park North, district C04. Lawrence Station on Line 1 is at 3101 Yonge Street. Much of this area sat in the old City of Toronto, not the former City of North York. Houses make up most of the housing. Condominiums were 1,225 of 8,340 occupied dwellings in Bedford Park-Nortown and 185 of 5,460 in Lawrence Park North in the 2021 Census.

Step by step, at higher prices

1. Set the budget with a mortgage professional. At $1.5 million or more the minimum down payment is 20% of the price.
2. Add both land transfer taxes to the budget. Above $2,000,000, ask a lawyer which rates apply to the unit.
3. Pick areas using district and community figures and note how many sales sit behind each one.
4. Compare units on their documents. Request the status certificate and read the budget, the reserve fund statement and the common expenses for the unit.
5. Read the declaration for parking, the locker and any terrace or outdoor space.
6. Ask for the current property tax bill.
7. If you are not a Canadian citizen or permanent resident, have a lawyer confirm how the federal purchase ban and the Non-Resident Speculation Tax apply to you.
8. Have a lawyer review the status certificate and the offer before you commit.

Ask about a specific unit

Ask us anything about North York condos and we can book a showing. Use the contact page to ask about a unit or an area. If you already own a condo and are thinking of selling, start with the free condo evaluation.