A new report came out last week saying that the Toronto housing prices jumped 13 per cent, which is "alarming" to many experts and depressing for anyone looking to purchase a home. 

All this is to say finding a home under $1 million dollars is bordering on impossible but miracles do happen! 

The basement has plenty of extra space for a media room and spare bedroom. 

This small one-bedroom bungalow on Craven Road, a street with quirky homes on one side and a long fence on the other, is listed for just $699,000. 

The basement has a two-piece bathroom. 

817 Craven Road might just be the best condo alternative Toronto has going for it right now. 

The foyer mud room area with plenty of storage space. 

Right when you walk in there's a little sun room area, which leads into the open concept living room and kitchen. 

The primary bedroom on the main floor. 

There is only one bedroom but the realtor mentions the basement is full of potential for either another bedroom or an office or media room.

The private fenced in back patio. 

There are two bathrooms and as for outdoor space there isn't a backyard but there is a private deck area with enough room for a BBQ and a seating area. 

The open concept living room and kitchen. 

The home looks really well maintained and has been updated – mostly cosmetically.

The open plan kitchen. 

But according to the listing, the main floor also has new(ish) windows so you probably don't have to spend a fortune on heating. 

The main floor bathroom. 

The only downside that might make people think twice about this home is its proximity to the railway and the fact that there's no parking. 

The home is just over 800-square-feet including the basement. 

Also the fact that this house is definitely going to sell for over asking... So on your mark, get set, let the bidding wars commence!