Bidding war pushes Forest Hill home to $23.5M

(211 Dunvegan Rd, Toronto/Jane Zhang Associates.)

A bidding war for a newly built Forest Hill home has pushed its sale price to $23.5 million, setting a new residential sales record for the Toronto neighbourhood.

The property, listed for $22 million by Sotheby’s International Realty Canada, also marks the highest residential sale through the MLS in the City of Toronto in close to five years, according to the brokerage.

Jane Zhang, broker and senior vice-president of sales with Sotheby’s International Realty Canada, represented the listing after it had previously been listed with another brokerage.

Three competing offers

Built in 2025, the gated Forest Hill South residence spans approximately 9,856 square feet over four levels and includes six bedrooms and eight bathrooms.

A “resort-style” outdoor entertainment area with a pool, jacuzzi and lounge seating (listing photo).

The home was designed by Toronto-based architect Omid Taba of OE Design and received awards for Best Architecture Single Residence and Best Interior Design at the 2025/2026 International Property Awards in Miami.

Set on a corner lot with approximately 170 feet of depth, the home has 270-degree views. Inside, features include a floating mono-beam staircase, floor-to-ceiling windows and a kitchen with two marble islands, a servery pantry hall and high-end appliances.

The home also has a wellness retreat, pet spa, nanny suite, gym, cinema, elevator and wine cellar. Outside, there is a pool, jacuzzi, outdoor kitchen, dining pavilion, firepit and landscaped gardens.

New strategy after listing changed hands

A contemporary winding staircase anchors the home’s flow (listing photo).

Zhang said reaching buyers at the property’s price point required a targeted approach, particularly given the softer broader market.

“Despite its prestigious position, challenging market conditions meant that we needed a strong marketing strategy and ultra-high-net-worth network to reach the right buyers,” she said.

After taking over the listing, Zhang said the brokerage changed the strategy to include digital and social media marketing in Toronto, elsewhere in Canada and internationally.

“These efforts helped attract several qualified buyers and competing bids, which achieved another record-breaking sale above the original asking price,” she said.

Where Sotheby’s sees demand heading into fall

Mustafa Abbasi, president of Sotheby’s International Realty Canada, said the brokerage expects more activity in Toronto’s ultra-luxury single-family home market as the fall market gets underway.

“While affluent buyers remain discerning, there is no doubt that demand has been building for some time, particularly for single family homes,” Abbasi said.

He said the same trend is emerging in high-end neighbourhoods elsewhere in Canada.

Ken Mazurek, managing broker with Sotheby’s International Realty Canada in Toronto, said conditions have tightened in some GTA neighbourhoods over the summer, while demand for luxury detached homes has held up particularly well in established, family-oriented areas.

“This sale reflects the confidence that sophisticated buyers have in the long-term value of top-tier Toronto real estate and foreshadows an optimistic fall luxury market ahead,” Mazurek said.

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