Want three-bedrooms in the GTA for under $1 million? Look to Oshawa, Clarington and Brock
Published November 1, 2024 at 3:04 pm
The third bedroom is on the wish list for many prospective homebuyers but that extra room too often puts the price tag past the tipping point for the average buyer.
In 11 communities in the GTA, however, three-bedroom family homes can be had for less that $1 million, with seven of those towns found in Durham Region, including Brock Township, Oshawa and Clarington in the top three spots for affordability.
Toronto real estate agency Wahi’s recent Great Canadian Dream Home Survey revealed that most Canadians prefer single-family homes and that their ideal number of bedrooms is three.
Their analysis showed just 11 municipalities where the median sale price of three-bedroom homes is below $1 million, suggesting more than half of those properties changed hands for less than a cool million.
At #1 is Brock in Durham northernmost reaches, where the average three-bedroom home sold for just $720,000. The number of sales would be limited in Brock but not so much for Oshawa, the region’s biggest city, which slid into second on the list with family homes selling for $765,000.
Clarington ($825,000) was third on the list.
Other communities with three-bedroom homes selling for less than $1 million included Georgina in York Region ($837,000), Brampton ($890,000), Whitby ($900,000), Ajax ($910,000), Halton Hills ($918,000), Pickering ($934,000), Scugog ($970,000) and Milton ($985,000).
Other communities in the GTA may have three-bedroom homes selling for under the $1 million threshold but the share of these homes to overall sales will be lower.
Three-bedroom houses, according to the analysis by Wahi, accounted for the largest share of single-family home sales in 26 out of 30 GTA communities.
The most expensive median price for three-bedroom homes in the GTA was found in King Township, with those properties selling for $1.7 million.
The lowest median price in the six communities in Toronto was Scarborough, where three-bedroom homes sell for $1,025,000.
