The most $1-million homes in Ontario are located in these areas
Published March 12, 2024 at 10:14 am
It’s no secret that, for a large number of homes in Canada, a price tag exceeding $1-million is becoming more common.
For Ontario, standards aren’t all too different, as homes across the province continue to plateau into ‘luxury’ standards with costs going well over the million-dollar mark for the average property.
A recent survey conducted by Point2, a Canadian real estate organization, discovered that Ontario hosts numerous properties valued at over $1-million. Unsurprisingly, Toronto holds a number of them, with 38 per cent of its properties being valued at well over $1-million, while Ottawa boasts a 24 per cent margin.
However, despite Toronto and Ottawa being the presumed heavy hitters, Oakville holds the majority of high-end living properties — and out of the 15 locations surveyed — an additional six Ontario-based municipalities blew both Toronto and Ottawa out of the water.
The locations in Ontario and their percentage of homes over $1-million are as follows:
| Municipality | % of Homes Over $1-million |
| Oakville | 69.1 |
| Richmond Hill | 63.5 |
| Newmarket | 61 |
| Vaughan | 58.6 |
| Markham | 58.3 |
| Brampton | 51.6 |
| Whitby | 50.3 |
According to the data, these additional properties maintained a margin of over 50 per cent when it concerned homes valued at over $1-million. However, for those concerned with Ontario taking the first place spot in the country, fret not, as Delta, BC takes the prize with over 80 per cent of its residential properties surpassing the million-dollar standard.
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