This is what a $1 million home looks like in Toronto right now

It is no secret that Toronto real estate prices have been out of reach for many people for years and recently there have been some barely livable homes for sale at eye-popping prices.

A tiny home on Euclid near College, that could be described as little more than a shack sold for $1.8 million.

A dilapidated semi-detached Junction home, in need of a complete gutting, was on the market for nearly $900,000 this past fall.

So perhaps it comes as no surprise that a partly burned home at 199 Thirtieth St. in Etobicoke is being sold for "land value only" for $1 million.

The home at 199 Thirtieth St. in Etobicoke sustained major damage in a 2016 fire. Photo via Realtor.ca 

The home is in the Alderwood area of Etobicoke and is described as an "up and coming" neighbourhood. It is close to the GO Station and major highways — the QEW and 427. The only downside is the home, with a hole burnt in the roof, still sits on the property.

The fire was devastating on July 4, 2016 and was said to have started in a bedroom. It was deemed a "total loss." Fortunately, the two residents of the home were able to escape.

The damaged home remains on the property. Photo via realtor.ca

The home is yet another example of Toronto real estate prices that continue to skyrocket. This year Toronto saw average single home priced at $955,615 — 13.3 per cent more expensive year-over-year and those prices show no signs of slowing down.

While $1 million for a piece of land still seems outrageous, at least it offers a chance for a fresh start home, once you tear down the old one.