Here are the best places where you can still buy a house for under $1 million in the GTA
Even in this high interest rate environment and these less-than-ideal economic conditions, the average price of a home in the Toronto area is still inching upwards rather than falling — but a new report shows where you can still get a relative deal if you're in the market for a place of your own.
Real estate agency Wahi surprisingly found 20 places in the GTA where the median price of a single-family home (so, no condos) is below the key $1 million mark, and though none of them are in Toronto proper, they're close enough that the lower price may be worth it.
The study included detached houses, semi-detached homes, row homes and townhomes (without maintenance fees), using sold prices from the month of April 2024.
The first few locales in the top 10 were quite below the $1 million threshold, with the typical house in Oshawa sitting at only $775,000 — an absolute steal by T.O. standards — while homes in Georgina and Brock are around $780,000 and $789,000, respectively.
Also on the list were Clarington, Burlington, Uxbridge and Scugog (with median prices last month ranging from $817,500 to $905,000), followed by Whitby, Brampton and Halton Hills (ranging from $910,000 to $917,500). East Gwillimbury, Milton, Caledon and others also came in under the mark, but were not ranked among the ten best places to get a deal.
Though some of these places are quite a way outside the city — Clarington and Brock, for example, both being more than 100 km away — cities and towns like Brampton (44 km away), Halton Hills, Burlington and Whitby (all around 68 km away) are not the worst options if you're priced out of Toronto.
As unfortunate as it is to think that nabbing a home in somewhere like Oshawa for under a million is something to celebrate, it is just the reality that we have to accept: Toronto's sky-high prices and incessant demand have expanded outward and strongly impacted surrounding suburbs.
Tanya Tierney Team Realty Inc./Strata.ca
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