Price Check: A brick fortress in North York, a skinny two-storey in the Beaches or a modernist box in Etobicoke?
What $2 million will fetch in three different neighbourhoods right now
The average price of a detached Toronto house has dropped by 22.9 per cent in the past year. That means lots of sizable places are available right now for a relative bargain. The options, though, vary wildly from neighbourhood to neighbourhood. Here are three properties that just sold for around the $2-million mark.
Related: What can buyers get for $1 million and under? Three different neighbourhoods tell three different stories
Bayview Woods–Steeles: A suburban classic ideal for raising a family
Sold for: $1,949,500
Listing price: $1,998,888
Date sold: February 21, 2023
Size: 4,000 square feet
This brick fortress spent seven days on the market before selling for nearly $50,000 under asking. What it lacks in curb appeal, it makes up for in sheer size. The sellers also spent $250,000 on a pre-sale renovation, which included a revamped kitchen with stainless steel appliances and all new light fixtures. The home’s main attraction is its finished basement with hardwood floors and a kitchen—perfect as a party room or a separate rental suite. It’s also within walking distance of the Richmond Hill GO line, Zion Heights Middle School and A. Y. Jackson Secondary School.
The Beaches: A tall and skinny detached with a fun backyard
Sold for: $1,950,000
Listing price: $1,949,999
Date sold: February 16, 2023
Size: 2,100 square feet
A budget of $2 million is also enough to buy a detached closer to downtown. Here, residents trade square footage for walkability as well as proximity to Kingston Road, Lake Shore Boulevard and several TTC lines. Still, this two-storey pad is sneakily large: it hides a finished basement, a home office and a suburban-style backyard complete with a hot tub. The interior mixes contemporary and rustic, with custom light fixtures and wood accents throughout. It also has a French-door walk-out to the front porch. The previous owners sold just above asking after only one day on the market.
Alderwood: A modernist box with sleek decor
Sold for: $2,010,188
Listing price: $2,088,888
Date sold: January 20, 2023
Size: 3,500 square feet
In Etobicoke, just over $2 million fetches a modern home filled with natural light. This place may not have the size of the North York house, but its design rivals that of sparkly new condos. Its 11-foot ceilings complement the large windows and LED lights that line each room. And the custom millwork, floating staircases and porcelain electric fireplace add a layer of luxury. The layout is also practical for families: tons of storage, a walk-in pantry, and a basement that could be converted into a granny suite or rental unit. The downside is that it’s a rough drive to and from downtown at rush hour, but residents are close to the Lakeshore West GO line and can bus up to Kipling subway station.
Are you an agent with tips for house hunters? Send your story to firstname.lastname@example.org.