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Ontario housing market: What $1 million will get you | CTV News – CTV News Toronto

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1 year ago

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Both the Canadian and Ontarian real estate markets saw a record-breaking first quarter in 2022, with housing prices reaching new heights and sellers remaining well-positioned.

As of March, the average price of an Ontario home was $1,052,920. In the Greater Toronto Area, the average price is sitting at $1,269,900.

The Greater Toronto Area isn’t the only area breaking real estate records in the first quarter of the year either — prices of detached homes in the four Golden Horsehsoe communities — Barrie, Cambridge, Kitchener-Waterloo and Oshawa  — all surpassed $1 million for the first time.

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The rise in prices is indicative of a larger national trend. Since last year, the national average home price climbed by more than 20 per cent to hit a record $816,720 in February.

With so many price tags hovering around the $1-million mark, buyers might be wondering how far a budget of that amount could get them across Ontario’s real estate markets.

Well, it depends on where you’re looking.

Here are a selection of Ontario real estate listings for under $1 million.

TORONTO

117 North Bonnington Ave can be seen above. (RE/MAX)

Address: 117 North Bonnington Avenue, Toronto, ON.

Property type: Townhouse

Asking price: $999,900

Bedrooms: Three

Bathrooms: Two

KITCHENER

22 – 93 Gage Ave can be seen above. (RE/MAX)

Address: 22 – 93 Gage Avenue, Kitchener, ON.

Property type: Condo

Asking price: $829,000

Bedrooms: Three

Bathrooms: Three

WINDSOR

533 Mountbatten Crescent can be seen above. (RE/MAX)

Address: 533 Mountbatten Crescent, Windsor, ON.

Property type: Detached home

Asking price: $999,900

Bedrooms: Four

Bathrooms: Three

NORTH BAY

59 Janey Avenue can be seen above. (RE/MAX)

Address: 59 Janey Avenue, North Bay, ON.

Property type: Detached home

Asking price: $779,900

Bedrooms: Five

Bathrooms: Three

OTTAWA

711 Spring Valley Drive can be seen. (Google Maps)

Address: 711 Spring Valley Drive, Ottawa, ON.

Property type: Detached home

Asking price: $999,900

Bedrooms: Four

Bathrooms: Three

NIAGARA-ON-THE-LAKE

23 Windsor Circle can be seen above. (RE/MAX)

Address: 23 Windsor Circle, Niagara-On-The-Lake, ON.

Property type: Townhouse

Asking price: $999,900

Bedrooms: Four

Bathrooms: Four

THUNDER BAY

2316 Falconcrest DrIve can be seen above. (RE/MAX)

Address: 2316 Falconcrest Drive, Thunder Bay, ON.

Property type: Detached home

Asking price: $969,000

Bedrooms: Four

Bathrooms: Four

HEARST

908 Halle Street can be seen above. (RE/MAX)

Address: 908 Halle Street, Hearst, ON.

Property type: Detached home

Asking price: $750,000

Bedrooms: Four

Bathrooms: Two

LONDON

1177 Crumlin Sideroad can be seen above. (RE/MAX)

Address: 1177 Crumlin Side Road, London, ON.

Property type: Detached home

Asking price: $999,000

Bedrooms: Five

Bathroom: Three

BARRIE

207 Dunsmore Lane can be seen above. (RE/MAX)

Address: 207 Dunsmore Lane, Barrie, ON.

Property type: Detached home

Asking price: $999,000

Bedrooms: Six

Bathrooms: Four

With files from CP24’s Chris Fox. 

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Toronto real estate plunges into 'buyers market' as sales slow and listings surge – Financial Post

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4 hours ago

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October 4, 2023

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Toronto home prices rebound in September, sales hit eight-month low

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8 hours ago

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October 4, 2023

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TORONTO, Oct 4 (Reuters) – Greater Toronto Area (GTA) home prices rose in September for the first time in four months, as the Bank of Canada paused its interest rate hiking campaign, but the level of sales fell to the lowest since January.

The average price of a GTA home rose 3.4% in September from August to C$1,119,428 ($816,623.87), the first increase since May, Toronto Regional Real Estate Board (TRREB) data showed on Wednesday.

On a year-over-year basis, home prices were up 3%. Still, they have fallen 16.1% from a peak hit in February 2022.

The Canadian central bank left its benchmark rate on hold at a 22-year high of 5% last month after hiking in June and July.

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“GTA home selling prices remain above the trough experienced early in the first quarter of 2023,” Jason Mercer, TRREB chief market analyst, said in a statement.

“However, we did experience a more balanced market in the summer and early fall, with listings increasing noticeably relative to sales. This suggests that some buyers may benefit from more negotiating power, at least in the short term.”

New listings jumped 44.1% year-over-year, while home sales were down 7.1%. On a month-over-month basis, sales fell 12.3% to 4,642 homes.

($1 = 1.3708 Canadian dollars)

Reporting by Fergal Smith, editing by Deepa Babington

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Trump's real estate fraud trial begins, Sen. Bob Menendez trial date set: 5 Things podcast – USA TODAY

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15 hours ago

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October 4, 2023

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