Having $1 million in the bank is not something most people experience in their lifetime, yet it wasn't too long ago that it couldn't even get you into Toronto's real estate market.
But, according to Strata, Toronto's housing landscape has shifted. It's no longer an impenetrable fortress selling average one-bedrooms for millions. It's changed.
The real estate brokerage says a "series of interest rate hikes" has $1 million opening doors in the city that would've closed shut 8-10 months ago.
And these five gorgeous listings are hard evidence. The only bad news is that they've already been sold.
The most affordable unit was a $929,900 penthouse at 555 Wilson Avenue, in North York. A buyer managed to scoop the sprawling property right out of Station Condos, one of Toronto's most in-demand markets.
It offers 2,000 square feet of living space, a chef's kitchen, and soaring ceilings.
555 Wilson Avenue, North YorkPhoto via Strata.ca
The second cheapest unit was located in Toronto's Midtown neighbourhood. The upscale condo, 68 Merton Street, Unit 811, sold for $975,000, sprawls 900-square feet and comes with a private 275-square foot terrace, and a gas BBQ.
68 Merton Street, Toronto Photo via Strata.ca
A two-bedroom North York townhouse, at 50 Holmes Ave, Unit 7, sold for $995,9000, with Strata noting that a similar unit sold for nearly $160,000 more in February. The home's open-concept layout offers 1,2000 square feet of space. Its kitchen features quartz countertops, a marble backsplash, and a well-sized breakfast bar.
50 Holmes Avenue, North YorkPhoto via Strata.ca
The property at 250 Manitoba Street, Unit 528, Etobicoke, sold for $999,000 last month. The 1,200 square-foot hard loft offers stunning views of Lake Ontario, a 17-foot ceiling, massive windows and a 360-square-feet terrace with a gas fireplace.
250 Manitoba Street, EtobicokePhoto via Strata.ca
A three-bedroom condo with wall-to-wall windows, an oversized living room, and a spectacular view could've quickly listed for a hot million in early 2022. However, 1300 Islington Avenue, a 1,700-square-foot unit located in Etobicoke, is all of those things and sold for $999,999.
1300 Islington Avenue, EtobicokePhoto via Strata.ca
Overall, things are still extremely pricey in Toronto's housing market. However, they do appear to be getting slightly better, not good, but less nightmarish.