Here's what you can get in Toronto for the average price of a home in Canada
While Toronto's real estate market is absolutely floundering when it comes to the number of listings available and sales being made, prices in the city have yet to fall nearly as much as the dip in activity would suggest.
According to the Canadian Real Estate Association, as of August 2022, the price of the average Canadian home — that's including condos, detached, semi-detached and townhomes countrywide — is $637,673.
In Toronto, meanwhile, the latest stats put that figure at $1,086,762 across the entire GTA, not even just downtown.
But, there are still some homes available in the city for around the national average right now, and here's what they look like:
This 1+1 bedroom, one-bathroom unit is 788 square feet, and in a 35-year-old building on the water.
While the windows and kitchen cabinets indicate the building's age, upgrades like the hardwood floors, stainless steel appliances and black-painted accent doors give it a newer feel. The unit is quite spacious for a one-bedroom, but has no outdoor space, and smaller windows than the newer builds that tend to have floor-to-ceiling glass.
There is a coveted partial view of both the lake and the Rogers Centre, though you are mainly facing another building.
For the $638,800 price tag you do not get a parking spot, and will have to pay an additional $173.25 per month in taxes and $688.12 in maintenance fees.
This one-bedroom, one-bathroom spot is much smaller, at only 442 square feet, and feels more like a bachelor given its size and layout (the bedroom is not fully separated from the rest of the space).
It has the standard look of any newer condo in the city, with a concrete wall and ceilings, and the kitchen running along one side of the petite living area.
Maintenance fees given the small footprint, size and age of the building are only $336.42 per month, which appear to include property taxes.
Again, no outdoor space or parking with this $638,000 unit, but the location is prime entertaiment district.
This building is one of the city's notorious facadectomies, where a shiny new tower is plopped behind a the front of a historic building.
This one-bed, one-bath on the 32nd floor is bright and modern, but the layout with frosted glass delierating a corner of the space as a bedroom leaves a little to be desired.
There is a balcony, but it mostly faces another building, though a view of Nathan Phillips Square does peep through to the left.
Maintenance fees are $386.41 per month, property taxes average out to $188.50, and there is 504 square feet — quite small — of space for $638,000. No parking, either, but unbeatable central location.
Walkability is much worse, but it comes with 860 square feet of living space, a more functional layout, a balcony and an underground parking spot in a very new (two years old) building.
Maintenance fees will run you $574.10 per month, plus another $160.58 for property taxes.
Get even more space for the same $638k pricetag with this 4+1 bedroom, three-bathroom townhome, also in Scarborough.
Again, not downtown and not the most transit accessible, but right by the 401 if you drive. It also has more than 1,200 square feet of living space across multiple floors, two parking spaces (including a garage) and a little backyard (rare as heck).
Downsides include the location and the fact that the complex is visibly aged and a little rundown-looking at 47 years old, though the unit itself is quite lovely. The kitchen is also a little dated.
Maintenance fees for this entire townhouse are only $355.00 given that this doesn't have the amenities of a condo, and property taxes end up at about $154.75 per month.
Join the conversation Load comments