This is what Toronto’s Average Home Price of $1.2M looks like Across the GTA

Toronto’s booming housing market took a slight dip in April, following an overflow of listings and a slow streak of sold houses throughout the GTA. The obtuse spread between listing and sale prices skewed further away from a seller’s market, and in June 2022, home sales dropped by 39% from June 2021 as buyers procured more negotiating power in May.

While home prices dropped from February’s peak price point of $1,679,429, the average sale price in June 2022 remains 10% higher than 2021’s. The median house price throughout May and into June sits at approximately $1,251,000 in Toronto, while February’s median amounted to $1,485,000.

Prices remain high in the city of Toronto regardless of the nature of the market, and the toll of growing expenses escapes the city limits, spreading throughout the GTA. The average home price floats at approximately $1.2 million in Toronto, while the average costs in surrounding towns and cities reflect the exorbitance of Canada’s second most pricey city. Both Peel and Durham regions average sale prices increased by approximately 10% over the past year, with Peel matching Toronto at $1.2M. Meanwhile, Durham region’s average sale price hovers below $1 million at $994,546.

To put Toronto’s housing market in perspective, we’ve curated a list of recently purchased houses throughout the GTA that mirror the city’s average sold price of $1.2 million. Interested in what Toronto’s average home price looks like in your region? Scroll through for a glance at the GTA’s housing market in action.

Toronto – Average Sale Price $1.2M

10 McGee Street, South Riverdale – Sold on June 23, 2022

Sold: $1,215,000

Listed: $1,269,000

3 Bed 2 Bath

Home Type and Style: Rowhouse, 2-Storey

Size: 1100-1500Sqft

This Leslieville rowhouse features three bedrooms and two bathrooms with a spacious, finished basement and an urban backyard; perfect for hosting. This home does not include a garage, driveway, or parking spaces. Located minutes from Queen St with access to public transportation, independent shops, restaurants, and beautiful parks. This condo alternative was listed for $1,269,000 in South Riverdale, where the average asking price is $1,356,921. The property ultimately sold for $1,215,000 shortly after listing.

Brampton – Average Sale Price $1.1M

9 Caldwell Crescent, Brampton East – Sold on June 19, 2022

Sold: $1,150,000

Listed: $999,888

4 Bed 2 Bath

Home Type and Style: Detached, 2-Storey

Lot Size: 60.1 x 149.00ft

Located in the highly desirable Peel Village Area, this four-bed two-bath detached, two-storey home includes homely but modern cottage-like finishes that add an upgraded vibe to a showstopping space. Equipped with a finished basement and built-in bar, plus a spacious backyard featuring an in-ground pool, this property is perfect for families and folks that host both indoor and outdoor. Compared to the average home price of $1.1 million in Brampton, this home meets B-Town and Toronto in the middle with a sold price of $1,150,000 following an under-a-million listing price of $999,888.

Markham – Average Sale Price $1.3M

37 White’s Hill Avenue, Cornell – Sold on June 24, 2022

Sold: $1,200,000

Listed: $999,000

3 Bed 3 Bath

Home Type and Style: Attached, 2-Storey

Lot Size: 15.45 x 83.09

Welcome to this newly renovated corner unit on White’s Hill Avenue! This three-bed, three-bath attached home is upgraded with modern finishes and top-of-the-line appliances. Complete with a finished, open concept basement that leads up to a naturally lit commodious living space and a fully upgraded Chef’s kitchen. This property includes a private driveway with a detached garage and up to three parking spaces. In Markham, the average home price is $1.3 million, and the average cost of a three-bed attached 2-storey townhouse is $1.1 million. This townhouse was listed below market value at $999,000 and sold on par with trends at $1.2 million.

Pickering – Average Sale Price $1.0M

1539 Meldron Drive, High Blush – Sold on June 10, 2022

Sold: $1,200,000

Listed: $1,200,000

4+2 Bed 4 Bath

Home Type and Style: Detached, 2-Storey

Size: 2500-3000Sqft

1539 Meldron Drive is a freshly painted, moderately updated two-storey home with access to an attached garage and double driveway. This detached home includes a finished basement with bedrooms, a living room, a utility room, and a three-piece bathroom. The average price in Pickering sits at $1 million, making this home’s listing and sold price above average for the area. This house was listed for $1.2 million and sold for $1.2 million.

Guelph – Average Sale Price $853,000

13 Burcombe Crossing Crescent – Sold on May 25, 2022

Sold: $1,230,000

Listed: $1,290,000

3 Bed 3 Bath

Home Type and Style: Detached, 2-Storey

Size: 2000-2500Sqft

This custom-built upgraded home is an open-concept space with a finished basement, an abundance of natural light throughout, and several brand-new finishes. 13 Burcombe Crossing Crescent is a three-bed three-bath detached home, including a garage and two parking spaces, plus a well-kept backyard and spacious deck. This property is located nearby Hwy 401 with easy access to the GTA. The average home price in Guelph is $853,000. Meanwhile, the average price of a three bed detached two-storey home is $1.1 million. 13 Burcombe Crossing Crescent was listed for $129,000 and sold for $1,230,000, placing this property above the average value for both Toronto and Guelph.

Hamilton – Average Sale Price $896,000

983 Regional 97 Road

Sold: $1,200,000

Listed: $1,199,000

5+1 Bed 4 Bath

Home Type and Style: Detached, 2-Storey

Size: 2000-2500Sqft

983 Regional 97 Road is located on an acre of land with a finished basement apartment and numerous upgrades. This detached Hamilton home features five plus one bedrooms and four bathrooms, making it the perfect Family home. This house includes bedrooms on each floor, with two bedrooms adjacent to a large family and a dining room on the main floor. The kitchen is recently renovated, featuring quartz countertops, and walks out to a patio deck and spanning backyard. This home includes a double driveway with up to ten parking spaces! Hamilton’s average home price is $896,000, while detached 5-bedroom homes sell for an average price of $1.2 million. 983 Regional 97 Road sold for $1.2 million, which is $1000 over asking.

Newmarket – Average Sale Price $1.2M

479 Millard Avenue

Sold: $1,200,000

Listed: $1,298,800

3+1 Bed 2 Bath

Home Type and Style: Detached, 1.5-Storey

Lot Size: 88.07 x 163.05

479 Millard Avenue is a three-plus-one-bed two-bath detached home located at the top of a hill in a park-like setting, steps from Newmarket’s historic Main Street. This property is renovated with extensive upgrades on extremely well-kept land, backing into a flowing river. 479 Millard Avenue includes a walk-out patio, a partially finished basement, and a private driveway with up to four parking spaces.  Newmarket’s average home price is $1.2 million. A typical three-bedroom detached home sells on average at around $1.1 million. 479 Millard Avenue was listed for $1,298,800 and sold for $1,200,000.