Bridle Path, Hogg's Hollow homes lead in price appreciation

Luxury home sales in Toronto were up slightly between January and September 2009, compared to the same period last year, according to a new report by RE/MAX.

In total, 358 homes, priced at $1.5 million or higher, sold between January and September. Last year, 355 units sold during the same period.

The average price for a luxury home also jumped by three per cent to $2,281,717.

The Bridle Path, Hogg’s Hollow, and York Mills areas all led in terms of both sales and price appreciation.

The number of homes sold in those neighbourhoods climbed 31 per cent to 97 units, compared to 74 homes last year.

Outside of Toronto, housing markets in Richmond Hill and Thornhill were particularily hot with sales up 24 per cent over 2008 levels.

Check out the full report here.

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