Casa Loma mansion finally sells at $7.15M after eight tries — a $1.35M hit
A Casa Loma mansion sold for $7.15M in November after eight listing attempts, a $1.35M drop from its 2022 price — a sign buyers are squeezing sellers in Toronto's market.
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By Torontoer Staff
If you’ve been watching Toronto real estate like a sport, this one stood out even among the city’s headline-grabbing sales. A custom-built, 7,000-plus sq. ft. home near Casa Loma that was once a symbol of the luxury market’s resilience finally changed hands in November — and it didn’t go how the sellers or some agents might have hoped.
After eight attempts to sell and price tags that swung as high as the low $12 millions, the house closed at $7.15 million — about $1.35 million less than what it sold for in June 2022. For folks in Toronto neighbourhoods like the Annex, Rosedale or midtown, it’s a reminder that even luxe properties aren’t immune to market pressure.
The Casa Loma mansion’s bumpy sales journey
This custom home — four bedrooms, seven bathrooms, multiple gas fireplaces and more than 7,000 square feet of living space — has been on and off the market repeatedly since its 2022 sale at $8.5 million. It was reintroduced to MLS in 2023 with an asking price approaching $12 million (that listing was pulled after a month) and then relisted several more times through mid-2025 at price points ranging roughly between $8.79 million and $12.8 million.
- Seven-piece spa-like bathroom
- Temperature-controlled wine displays
- Private terraces and fireplaces
- Custom finishes across more than 7,000 sq. ft.
After eight listing attempts and shifts in strategy, the property finally closed in November 2025 for $7.15 million. That final number puts it about $1.35 million below the price paid just three years earlier — a rare but blunt example of how negotiation power has moved back toward buyers.
Why the price sank — and what it means for Toronto buyers
You might be wondering how a high-end home like this ends up taking a loss. A few forces came together: softer buyer demand, elevated inventory in parts of the city, and a market where sellers have had to make concessions to close deals. When a luxury property returns to market multiple times, it can also signal to buyers that there’s room to negotiate — and they act on it.
2025 was initially expected to be the year that housing markets came out of their interest rate-induced hibernation, but as we all know, the rug was pulled out from under that recovery by the economic shock of U.S. tariffs. With interest rates now even lower as a result of a softer economy, the focus shifts to the spring of 2026, and whether we'll finally see the return of more normal levels of housing activity.
Valérie Paquin, CREA Chair
Those words from CREA’s chair underline the bigger picture. CREA’s November report showed national home sales dipping 0.6% month-over-month, newly listed properties down 1.6%, and the MLS Home Price Index off about 3.7% year-over-year. The National Composite HPI also slid 0.4% between October and November 2025, which the association says points to sellers increasingly making price concessions.
Locally, the Toronto Regional Real Estate Board has flagged fewer sales in 2025 compared to 2024 and higher-than-usual listing inventory. That dynamic gives buyers more leverage and has helped bring average selling prices down — TRREB reported an average sale price of $1,006,735 last month, about 5.1% below December 2024.
- Buyers: there’s more room to negotiate, even on higher-end homes — shop around and be ready to act.
- Sellers: pricing strategy matters; repeated relistings can weaken your negotiating position.
- Agents: transparency about market timing and realistic comps helps close deals faster.
- Everyone: keep an eye on spring 2026 — it’s shaping up to be a pivotal season for Toronto housing.
For Torontonians, this sale is more than a luxury-market oddity. It’s a tangible example of how broader economic signals — interest rates, international trade shocks, and local inventory levels — ripple through neighbourhoods from Casa Loma to the Danforth. If you’re buying, selling or just curious, this is a market that rewards homework and patience.
TorontoCasa Lomareal estatehousing marketluxury homesCREA
