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Toronto’s Luxury Land Transfer Tax: What You Need to Know

We spoke with Christina Pinelli, a Heaps Estrin real estate agent, to break down what buyers and sellers need to know about the upcoming luxury land transfer tax in Toronto.

As of April 1, 2026, the City of Toronto will implement an increased municipal land transfer tax on residential property purchases over $3 million. The tax will be applied on a graduated basis, meaning the higher the purchase price, the higher the tax owed.

For buyers, this change means higher closing costs, which must be paid upfront and are not included in mortgage financing. As a result, planning ahead will be especially important.

According to Christina, there are often creative ways to navigate this change,…

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February began, as usual, with Groundhog Day – and much like the cult classic movie, this month’s TRREB update feels a little like déjà vu. The storyline remains familiar: cautious consumers, elevated inventory, and a market finding its footing rather than sprinting ahead.

TRREB’s 2026 Outlook points to stability more than spectacle. Sales for the year are expected to land between 60,000 and 70,000 transactions, similar to 2025, with the average GTA price hovering around the $1-million mark. Improved affordability is here, but confidence is still catching up. January’s figures reflected that hesitation – sales were down year over year and prices softened modestly – yet beneath those numbers we’re seeing important signs of life.

The most…

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The start of a new year always brings a sense of reset – fresh starts, good intentions, and a moment to take stock of where things stand and where they may be headed. In real estate, that instinct is particularly strong right now, as many buyers and sellers look to 2026 hoping for clarity. What we’re seeing instead is something a little less dramatic but arguably more important: stability.

Heading into the year, we had anticipated a relatively steady market – and for the most part, that’s what we’re seeing. While global and geo-political factors (including the unfolding situation in Venezuela) will need time to fully play out before we can gauge broader economic impacts, locally the Toronto market has settled into what now feels like a new norm. We…

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December in Toronto comes with familiar rituals – twinkling lights, Mariah on repeat, and calendars filling up quickly. It’s also a time of year when many homeowners quietly start asking big-picture questions: Is 2026 our year to make a move?

From a numbers standpoint, November didn’t deliver any dramatic plot twists. TRREB reported 5,010 sales across the GTA, down 15.8% from a year ago, with new listings also lower and the average selling price down about 6% year-over-year. Month-over-month prices, however, were essentially flat compared with October. The current state of affairs seems to be not a dramatic descent, but rather adjusting then holding steady.

Many would-be buyers are still biding their time, waiting for more encouraging…

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With the clocks turning back and temperatures dipping, there has been a noticeable cooling in the air recently – and not just outdoors. The October real estate market in Toronto saw fewer sales, lower prices, and more listings, reinforcing what many have felt recently: we have officially found ourselves in a buyer-favoured environment.

This comes alongside broader economic shifts – including another Bank of Canada rate cut at the end of October – and the first federal budget since the last election, which introduced major long-term economic positioning, but offered little immediate relief for homebuyers. Sentiment remains cautious as Canadians work to understand how (or whether) these shifts will impact them personally.

Layered on top of all this is…

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October in Toronto always signifies change — fall colours, sweater weather (though not yet), and this year in particular the city is abuzz with post-season baseball. The real estate market is following suit, although it is happening in increments. No grand slams but rather a sense that momentum is building one base hit at a time.

September numbers back up what we have been seeing on the ground. Toronto-area home sales rose 8.5% compared with the same month last year. Prices, meanwhile, remain softer than peak pandemic levels — the average selling price is still down about 5% year-over-year — but they ticked up slightly from August. And perhaps most telling, mortgage advisors are reporting a noticeable increase in applications since the Bank of…

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Typically, back-to-school signals back-to-market. This September, activity is expected to pick up a little more slowly, reflecting the quieter-than-usual August as many people in the city truly stepped away. The fall market should really begin to take shape the week of September 15th, once routines settle and momentum returns. What we don’t expect: fireworks. What we do expect: a gradual, healthier pace as fewer new listings meet steady seasonal demand and existing inventory is absorbed. In other words, no dramatic shifts on the horizon.

What the Numbers Say

TRREB reported that sales were up modestly year-over-year, while new listings rose even more – meaning buyers continued to enjoy choice and negotiating room. Average prices edged…

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It’s August in Toronto – a time when sandals replace stilettos, out-of-office replies are abundant, and the city collectively hits pause (ideally dockside or poolside). But even in the dog days of summer, the real estate market quietly continues to hum along – albeit at a more relaxed pace.

This month, we’re seeing a continued theme: activity is happening, but it’s measured. Some buyers are moving forward, but largely when they feel they’re getting a “deal.” Well-positioned listings are still selling – but often with longer timelines and more negotiation than we’ve seen in previous summers. The market is not stalled – but it continues to shift, gradually but perceptibly.

Prices across the GTA are down year-over-year according to the latest…

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We’ve officially hit the halfway point of the year – and while the real estate story hasn’t followed a classic arc, we’re starting to see some meaningful plot twists.

As a team, we’ve been putting together more deals in recent weeks – but there’s no question it takes more effort, more collaboration, and more strategy than ever. Interestingly, we’ve also seen more movement in the luxury market than we have in quite some time. 

In other news, the Toronto Regional Real Estate Board (TRREB) just released its May numbers. While sales were down year-over-year, they did in fact increase month-over-month – and for the second month in a row – offering another encouraging sign of renewed momentum.

The key takeaway? After a late start, the spring…

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Signs of sunnier days are all around us. As temperatures begin their ascent, so does the sense of possibility — a feeling we’re not only seeing in the market but also hearing from our clients. After a strenuous few months of holding our collective breath, caught between election uncertainty and tariff drama, we’re finally seeing a shift. With the election now behind us, buyers are settling into a new mindset, and confidence is quietly returning.

But where there is optimism, there is also a sense of recalibration. While about half of Canadians are pleased with the election outcome, the other half are decidedly less so — and we’re already hearing of some business leaders exploring moves south of the border. It’s a reminder of how sentiment can shift…

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