What $1 million used to buy in Toronto

The average price of a detached home in Toronto just passed the $1 million mark in February. 

186 St. Leonard’s Ave

Year sold: 1996 (first year for which TREB kept electronic MLS records)

Sold price: $1 million

List price: $1.099 million

Taxes: $8,623.74 (as of 1995)

This was back in the day when you could tell someone had lots of money because there were so few pricey pockets of the city where they could spend it on a showcase home, such as this prime Bridle Path-Sunnybrook-York Mill real estate district. On tree-lined, 50 by 150-foot lots that felt more suburban than city. A million bucks back then got you five-plus bedrooms, moulded ceilings, wainscotting and a finely appointed kitchen, complete with Jennair stove and cooktop, all on a tree-lined, 50 by 150-foot lot. This house was razed in 2003 — the lot alone is now worth well over $1 million — to make way for a grand stone-fronted new home, now likely worth four times as much.

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Randy Ramadhin

Randy Ramadhin

CENTURY 21 People's Choice Realty Inc., Brokerage*
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