Home prices in the GTA (Greater Toronto Area) are outrageously expensive, and have been this way for many years.
Average single family, detached houses sell for well in excess of a million dollars, including tiny, post-WW II cottages and story and a half homes. Nothing sells below asking, and most sales result in selling prices hundreds of thousands of dollars over asking.
We live in the suburbs above the city, in an 1,800 square foot, two story, three bedroom, two and a half bathroom, semi-detached house with a one-car garage, that we purchased from the builder in 1977, for under $80,000.00.
Recently, an identical home on our street sold for $1,200,000.00(!!!)
And similarly configured houses in more desirable neighbourhoods fetch two and three million dollar prices.
Luckily Mrs. RBSinTo, and I are healthy enough to continue to live in this house, because to move into a Condominium larger than a packing crate would cost considerably more than we could realize from the sale of our home, so we stay put.
RBSinTo
