According to the Canadian Real Estate Association (CREA), the benchmark price for a home in Ontario reached $907,200 in April 2023 – the highest it has been since July 2022. As the second most expensive province, just behind British Columbia, Ontario has plenty of luxury mansions, palatial condos and extravagant estates to entice buyers.
At the same time, those looking for budget-friendly properties won’t be pressed for options. Smaller markets in Ontario such as North Bay, Niagara Region, Kingston, London and Ottawa all have average benchmark prices at least $250,000 cheaper than the provincial average.
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Owing to this varied range of average prices found across the province, an intriguing mix of luxury and affordable homes traded hands in May 2023. Let’s take a deeper look at the most expensive and affordable homes sold in May 2023 in Ontario:
5 of the Most Expensive
1. 2 Castle Frank Rd – Toronto
Property details:
- 7 beds, 9 baths, 6 parking
- Detached
- Walking score 55/Transit score 91
This Georgian mansion has been exceptionally renovated and boasts almost 11,000 Sq Ft of total living space. The imposing staircase in the expansive marble foyer will welcome you, followed by the sun-filled chef’s kitchen which features an oversized island. The outdoor space is equally as prestigious as the interior, with the Craighleigh Gardens, expansive terrace, built-in BBQ, large gas fireplace and family-sized pool.
View the listing and sold price here.
2. 21 Alderbook Dr – Toronto
Property details:
- 5 beds, 10 baths, 13 parking
- Detached
- Walking score 20/Transit score 48
This luxurious home is one of Canada’s most architecturally significant residences. Built by renowned architect Richard Wengle, the home boasts exceptional craftsmanship, iconic handcrafted details, and 12,000 Sq ft of living space. Other notable features include waterfall stairs, soaring ceilings, custom skylight, hydrotherapy hot tub, soundproof theater room, and a manicured garden.
View the listing and sold price here.
3. 7 – 1020 Mahon Farm Road – Muskoka Lakes
Property details:
- 6 beds, 5 baths, 0 parking
- Detached
- Walking and Transit scores N/A
This lakefront home’s 4.6 acres features wooded land, a perfect shoreline, and sandy beaches. The home has entertaining spaces galore, including a private gym, a well-appointed boathouse, a lakeside infinity hot tub, sauna house, and an expansive lounging terrace.
View the home and sold price here.
4. 94 Cumberland Dr – Mississauga
Property details:
- 4 beds, 6 baths, 11 parking
- Detached
- Walking score 33/Transit score 43
Experience the dream of spectacular lakeside living in this masterpiece of a home. With 11-foot ceilings, custom wood beams, white oak hardwood floors, and custom shelving and cabinets this home boasts luxury throughout. The infinity pool, hot tub, screened-in porch, and outdoor BBQ areas provide stunning views of Lake Ontario.
View the listing and sold price here.
5. 185 Balmoral Ave – Toronto
Property details:
- 5 beds, 5 baths, 6 parking
- Detached
- Walking score 62/Transit score 82
Enjoy elegant and gracious living in this grand Edwardian home. On the main floor, the sun-drenched family room leads to the outdoor large terrace – ideal for entertaining and relaxing. The stone terrace also has an integrated hot tub that overlooks the lush backyard. Upstairs, the primary suite features a luxurious 5pc spa ensuite, soaker tub and walkout to a private rooftop terrace.
View the listing and sold price here.
5 of the Most Affordable
1. 404 – 1800 Simcoe St N – Oshawa
Property details:
- 0 beds, 1 bath, 0 parking
- Condo Apartment
- Walking score 26/Transit score 49
Located just steps from Durham College and Ontario Tech University, this cozy bachelor studio is perfect for students or as an investment opportunity. All existing furniture and appliances are included.
View the listing and sold price here.
2. 141 Main Street – Deseronto
Property details:
- 3 beds, 1 bath, 0 parking
- Detached
- Walking score 42/Transit score N/A
The main level of this charming home features a cozy living room, a large kitchen with quartz countertops, laundry and a full bathroom. Views of the wonderful Bay of Quinte can be seen from the living room, kitchen, and front deck. Upstairs are the three bedrooms.
View the listing and sold price here.
3. 290 Queen Street – Chatham Kent
Property details:
- 2 beds, 1 bath, 0 parking
- Detached
- Walking score 18/Transit score N/A
This nicely-maintained home has been updated with modern features and details. The landscaped backyard also has an above-ground pool, a fish pond, a bricked patio and mature trees – perfect for enjoying quiet “out of the city” life.
View the listing and sold price here.
4. 29 Church Street – Kingston
Property details:
- 1 bed, 1 bath, 0 parking
- Detached
- Walking score 72/Transit score 48
This cute-as-a-button home is full of character and charm. The home features an open-concept living room and kitchen, a good-sized bedroom, a 3pc bath, a new energy-efficient hot water on-demand system, and a new hot water towel heater.
View the listing and sold price here.
5. 101 – 30 Avalon Place – Kitchener
Property details:
- 2 beds, 1 bath, 1 parking
- Condo Apartment
- Walking score 13/Transit score 47
Enjoy summer nights on the covered balcony of this bright and spacious condo. The galley-style kitchen has lots of counter space, a fridge, stove and dishwasher. The two large bedrooms have oversized closets and a 4 piece bathroom.
View the listing and sold price here.
Looking to get into the market this summer? We can help! Give us a call today to speak with one of our qualified real estate agents about your goals.
