1 million dollar home toronto

Average price of detached home in Toronto tops $1 million for first time

The average price of a detached home has surpassed the $1 million mark for the first time in Toronto's history. That's a staggering number when you think about it, but it's not really a surprise that our real estate market has reached this point.

Remember when Toronto was ranked the best city in the world to live in? That honour was won based on high rankings across a wide range of criteria, but there's one metric that the city trailed well behind on: affordability. Yes, Toronto is a lovely place to live, but if want to buy a decent home, it's going to cost you a lot of money.

This new mark represents nearly a nine per cent increase over the average price of a detached home as calculated last year. Home sales are up just over 11 per cent this year, while supply is down, which partially accounts for the significant price bump. Better get saving if you want your own white picket fence.


Join the conversation Load comments

Latest in City

Experts say raised crosswalks could prevent many pedestrian deaths in Toronto

This pigeon visits a Toronto man in his backyard nearly every day

Toronto transit line is still out of service five days after the huge blizzard hit

Baby raccoons were just born inside a shed in Mississauga and the photos are adorable

Truck convoy to pass through Toronto in protest against vaccine mandates

Those dramatic walls of fog Toronto keeps waking up to have a simple explanation

Toronto bike lanes are still blocked days after the blizzard and cyclists are not happy

Toronto expected to see coldest air in years this weekend as temperatures plummet