Price Check: What does $1 million get you? We visited three different neighbourhoods to find out

Price Check: What does $1 million get you? We visited three different neighbourhoods to find out

How about a semi-detached in the Upper Beaches, a glass box in South Core or an apartment perched above Humber Bay Shores?

One million dollars is a shocking amount of money. It’s also—shockingly—less than the average price of a home in the GTA (which right now hovers around $1.35 million). In this moment of market slowdown, what does a million get? Naturally, the answer depends on where you look. Here are three homes, each from a different district, that recently sold for $1 million.

Upper Beaches: Flagman Street

Sold for: $1,070,000
Listing price: $1,169,000
Date sold: August 10, 2022
Bedrooms: 3+1
Bathrooms: 3
Size: Roughly 2,000 square feet
Maintenance fees: n/a

Spending $1 million in the Beaches means a semi-detached four-storey home like this one on Flagman Street. This three-bed, three-bath is a great place to raise a family, with two TTC stations, several schools and the Danforth nearby. This house is also a short walk from Taylor Creek Park, Acton Park, East Toronto Athletic Field and Norwood Dog Park. Its three floors and basement—not to mention the front and back yards—add up to more than twice the space of the average two-bedroom condo.

South Core: York Street

Sold for: $1,030,000
Listing price: $1,059,000
Date sold: July 18, 2022
Bedrooms: 3+1
Bathrooms: 2
Size: Roughly 999 square feet
Maintenance fees: $907.32

Even in this housing market slowdown, $1 million is still not enough for a semi-detached home in Toronto’s core, but it will certainly get more than a shoebox. This three-bedroom unit in York Street’s six-year-old ICE Condominiums is practically glued to some of Toronto’s most popular destinations, including Rogers Centre, Scotiabank Arena and Union Station. Plus, the neighbouring buildings give way to a fragmented view of the lake. Aside from its extra bedroom, though, the condo remains cookie-cutter: residents pay a premium for its location.

Humber Bay Shores: Marine Parade Drive

Sold for: $1,000,000
Listing price: $1,100,000
Date sold: August 8, 2022
Bedrooms: 2+1
Bathrooms: 2
Size: Roughly 1,199 square feet
Maintenance fees: $1,015.27

Don’t care for giant stadiums and office towers? Travel 13 kilometres west of downtown and onto Humber Bay Shores’ Marine Parade Drive. This two-bed, two-bath, fourth-floor apartment, perched over Lake Ontario’s shoreline, has flexible spaces plus a large living room and kitchen. The unit also boasts electronic blinds, newly renovated bathrooms, an electric barbecue and modern light fixtures. And keep an eye out: home sale prices in Toronto’s west end declined similarly to those in central Toronto between June and July (12 to 14 per cent), and places are still selling at slight discounts—this one went for $100,000 below asking.