Toronto is one of the most high-priced cities to live in, and it also has some of the most expensive neighbourhoods in all of Canada. If you are searching for houses in Toronto and the budget is not your primary concern, this blog post is perfect for you. We will be discussing 5 of the richest neighbourhoods in Toronto that have homes costing well over $1,000,000 and what they have to offer home buyers!
Yonge-St. Clair, also known as Deer Park, is a tranquil and charming residential area in Toronto’s Midtown. Yonge-St Clair houses for sale usually start at $2,000,000, while the average townhouse for sale in Yonge-St. Clair doesn’t go for any less than $3,723,000. The condo lifestyle is greatly searched for here, especially by seniors and professionals, with the average listing price for a condo being $1,388,000.
The neighbourhood’s housing stock is a healthy mix of detached and semi-detached single and multi-family homes of various architectural styles, from renovated 19th-century Victorian homes to modern-designed dwellings such as condos and townhomes. Balmoral, Farnham, and Walker Avenues are the most beautiful and popular streets in the area.
This neighbourhood is a true gem, filled with tons of amenities, quaint streetcars, a vibrant atmosphere, and highly ranked private schools such as De La Salle College and The York School. It is also less than 10 minutes away from the city’s financial centre, making it a popular living option for families looking for a more relaxed spot without adding excessive commute times to their daily schedules.
Casa Loma is a very sought-after Toronto neighbourhood for the well-to-do, not only because it’s a serene respite from the bustling city centre but because of its prime location, expansive outdoor spaces, highly-ranked schools, and stunning homes for sale. The majority of the properties in the area are detached houses situated on spacious lots, with a mix of English Cottage, Edwardian, Tudor, and Georgian styles. The average listing price in Casa Loma is around $2,645,000.
Additional residential real estate options include luxury condo high-rises located mainly around Davenport, Spadina, and Avenue Rd. These developments appeal primarily to younger homebuyers that can expect to pay an average of $1,303,000 for a condominium. Casa Loma townhouses are also a popular dwelling alternative and can be bought for around $2,403,000.
This active and multicultural community is home to many professionals and families that love living near downtown and among lush greenery, upscale amenities and famous attractions and landmarks. Locals enjoy top-notch shopping opportunities and dining spots along Dupont St. and go for a hike or a walk at Wells Hill Park. The area has plenty of public transportation alternatives and great schools, including Hillcrest Community School.
Situated between Wilket Creek and the Don River, the neighbourhood of Banbury-Don Mills is an affluent and vibrant community surrounded by natural beauty. The average home price in Banbury-Don Mills is around $2,000,000, with a dwelling stock that encompasses a combination of newly-built two-storey houses, mansions, and renovated vintage bungalows and side-split homes.
Lofts and townhouses are also part of the Banbury-Don Mills housing stock, along with luxurious condos with high-end amenities and some of the city’s best views. A condominium in the area is any investor’s dream and prices range between $429,000 to $2,000,000.
Banbury-Don Mills is among the best places to live in Toronto for its great schools, excellent access to parks and public transit, expansive parks, and family-friendly atmosphere. Popular amenities in the area include York Mills Gardens —a popular open-air shopping centre, Civitan Arena, and the Banbury Community Centre. Families can educate their children at well-ranked schools nearby, including Northmount School and Willow Wood School.
Bridle Path-Sunnybrook-York Mills
Bridle Path-Sunnybrook-York Mills is home to Toronto’s old and new money, boasting some of the most luxurious mansions in town and all of Canada. Enclosed by several parks and green areas, this upscale neighbourhood offers world-class amenities and a delightful real estate stock, making it an obvious destination for wealthy, prominent individuals looking for a marvellous and private corner to call home.
The real estate market in the neighbourhood is almost exclusively made of luxury properties that sell for multi-millions. Most houses for sale are single-family homes sitting in vast lots with French Provincial, Georgian, neoclassical, and modern among the preferred styles. A home in the Bridle Path-Sunnybrook-York Mills will sell for $5,145,000 after spending around 15 days on the market. There are also restored California bungalows and condos for sale at an average price of $3,365,000.
Bridle Path-Sunnybrook-York Mills lifestyle is that of the rich and famous, with exclusive invitations to chic events, golf tournaments, gourmet dining experiences, and fancy afternoon get-togethers at posh Granite Club. Locals live nearby beautiful Edward Gardens and Wilket Creek Park and take their children to top education institutions, such as Crescent School.
With its walkable streets, excellent shopping opportunities, and great recreational activities, the Annex is among the most desirable places to live in Toronto for those who can pay the price. A single-family house in the neighbourhood is listed for no less than $2,512,000 on average. Most properties date from 1880 to 1930, and Victorian, Queen Anne, Richardsonian, and Romanesque are common architectural styles.
The Annex doesn’t have skyscrapers, which gives the community a small-town feel. The quiet residential zone is filled with three-storey stately mansions along tree-lined charming streets; many of the once multi-unit houses are being converted back into single-family homes. Some condo buildings sell units for around $2,512,000, while townhouses are on the market at an average price of $3,339,000.
Bloor Street is the heart of the Annex and has great street shopping opportunities with stores and boutiques from local creators. The area is also the stomping grounds of the University of Toronto’s students, which means a highly effective public transit system, a good mix of people, and a significant rental pool. The neighbourhood is close to Koreatown, The Royal Ontario Museum, Chinatown and Kensington Market.