These Were the Most and Least Expensive Sales in Toronto for 2021

With the start of 2022 now underway, it's time to take a moment to reflect on Toronto's real estate market and what were the most and least expensive sales recorded throughout 2021.

Presenting such a roundup is Toronto realtor and chartered accountant Scott Ingram, who is back with the 2021 edition of his annual MLS Awards. 

In his own words, Ingram created the ‘awards’ because he was curious to see what the most expensive house that sold in Toronto on the MLS was, which made him then wonder what the least expensive was… and so on.

While the Toronto Regional Real Estate Board’s MLS system covers a wide geographic area, the ‘winners’ of this year's edition are only from Ingram’s main area of interest, the City of Toronto, unless noted otherwise. The winners are also exclusively only residential real estate -- sorry commercial.

READ: Welcome to 2022: “Basic” Kitchener-Waterloo Home Sells for Over $1.2M

So without further adieu, here are the most and least expensive sales throughout Toronto for 2021.

 Most Expensive Asking Price

Neighbourhood: C12 Bridle Path-Sunnybrook-York Mills
Address: 24 Park Lane Circle
List price: $45,000,000
DOM: 259 (and counting)

Securing the top spot as the home with the most expensive asking price is this unfinished mansion in Toronto's prestigious Bridle Path neighbourhood. This 28,000-square-foot mansion sits on three acres and is located across the street from Drake's estate in this famed neighbourhood. The property is unique because it actually has two concurrent residential listings. For $25 million you can buy it as-is, or there's the $45-million option in which the "Owner/Builder will customize while in construction." 

Most Expensive Sale: Freehold

Neighbourhood: C12 Bridle Path-Sunnybrook-York Mills
Address: 71 The Bridle Path
Sold price: $23,850,000
DOM: 440 (total property DOM: 906)

Securing the title of the most expensive home sold in 2021 is this Bridle Path home, which actually had the most expensive asking price in Ingram's 2020 MLS Awards at $32 million. However, the palatial home -- boasting 21 rooms (plus nine more in the basement), tennis and basketball courts, a grand double staircase, an an indoor pool -- ended up selling for a cool $23.8 million.

Least Expensive Sale: Freehold

Neighbourhood: W3 Caledonia-Fairbank
Address: 2226 Dufferin Avenue
Sold price: $450,000
DOM: 11

On the other side of the spectrum, the least expensive freehold to sell in Toronto is this tiny detached home that sold for $450,000 on Dufferin Ave. As Ingram mentioned, this home is a "total gut job," and, in fact, there aren't actually any photos of the home's interior available. What's more, the home's listing reads: "Attention builders," "Property being sold as-is, where-is," and "No children or elderly to access lot or house," so you could only imagine what the interior looked like.

Most Expensive Asking Price: Condominium

Neighbourhood: C1 Bay Street Corridor
Address: 1 Bloor Street West (The One)
List price: $34,700,000
DOM: 45 (and counting)

As for the most expensive asking price for a condominium, this 8,752-square-foot lower penthouse located on the 79th floor of Mizrahi Development Group's The One took the top spot. With five bedrooms, a den, and seven bathrooms, and the option to customize the layout, the penthouse is listed for $34.7 million.

Most Expensive Sale: Condominium

Neighbourhood: C9 Rosedale-Moore Park
Address: 1 Roxborough Street East (Hill and Dale)
Sold price: $11,600,000
DOM: 44 (total property DOM: 174)

This year's top condominium sale is located in a 14-unit building one block north of the Rosedale subway station and features about 4,000 square feet spread across two levels. There are three bedrooms plus a den, three parking spaces, and an exceptional outdoor space that's complete with three private terraces, including a rooftop terrace with its own pool and incredble views.

Most Expensive Condominium Maintenance Fees (Sold)

155 Cumberland Street (155 Cumberland)

Neighbourhood: C2 Annex
Address: 155 Cumberland Street (155 Cumberland)
Sold price: $10,850,000
Maintenance fees: $6,381/month

Located in the heart of Yorkville, it's not that surprising that a condo of this calibre would come with this high of monthly maintenance fees. According to Ingram, this Cumberland unit was just one of five condos to have monthly fees north of $5,000, and one of three above $6,000 in 2021.

Most expensive Condominium Maintenance Fees (Listed)

118 Yorkville Avenue (The Hazleton)

Neighbourhood: C2 Annex
Address: 118 Yorkville Avenue (The Hazleton)
List price: $18,690,000
Maintenance fees: $12,002/month

While Ingram typically only reserves his awards for properties that sold, he included this unit as it's an "interesting case" and "worth mentioning." With a monthly maintenance fee of $12,002, the owner would need to earn an extra $310,000 annually just to have enough after tax to pay the $144,000 in condo fees for the year. Ouch.

Least Expensive Sale: Condominium

4645 Jane Street (Jane Street Condos)

Neighbourhood: W5 Black Creek
Address: 4645 Jane Street (Jane Street Condos)
Sold price: $145,000
DOM: 24

Since Ingram started doing these awards three years ago, the least expensive condo sale in the city has always been in the same same series of four buildings located right on Jane, between Steeles and Finch. This year, the cheapest condo in Toronto sold for just $145,000.

According to Ingram, "Thirteen of the 15 condo sales under $200K in the city last year happened in these buildings (the other two were at 50 Old Kingston Rd). So it's pretty easy to crown in the lowest-priced building in the city. But why? Well, they were built in 1972 and are showing their age." Additionally, Ingram says the white elephant factor also holding down the values of these buildings at Jane and Shoreham is the reputation of the area.

Most Expensive Sale: Condo Parking Space

Neighbourhood: C1 Waterfront Communities
Address: 100 Harbour Street (Harbour Plaza Residences)
Sold price: $93,000
DOM: 1

This year, the most expensive parking spot to sell was just shy of six digits, selling for $93,000 in Harbour Plaza Residences. According to Ingram, every year the neighbourhood for the most expensive spot has been C1 Waterfront Communities, which runs south of Queen to the lake, and from Bathurst to Yonge Street (minus the northeast chunk from Queen to Front and Simcoe to Yonge).

Least Expensive Sale: Condo Parking Space

Neighbourhood: C1 Little Portugal
Address: 170 Sudbury Street (The Curve)
Sold price: $13,000
DOM: 87

Taking the title of the least expensive condo parking space is a spot located in The Curve building that sold for $13,000. Why the low price tag? The building was an Urbancorp project, which you may have heard ran into some trouble.  According to Ingram, back in 2019 the builder was left with an inventory of about 40 parking spots, most of which sold for varying amounts over the years. In 2021, 16 parking spots were listed -- 14 of them for $15,000 and the other two for $18,000 -- which ultimately gave the buyers a ton of leverage. Subsequently, Ingram said two of the $15,000 spots sold for $13,000 each, becoming the least expensive condo parking spaces to sell in the process.

Most Expensive Sale: Condo Storage Locker

Neighbourhood: W1 High Park-Swansea
Address: 22 Southport Street (South Kingsway Village II)
Sold price: $18,000
DOM: 5

The most expensive storage locker to sell in 2021 was a locker at Queensway and South Kingsway. Ingram said there were no pictures or dimensions available for the locker, but it's located in a building built in 1989. Additionally, Ingram said the listing did mention that the locker came with "lots of wall space to accommodate shelving," plus a monthly maintenance fee of $14.57. 

Largest Percent of Asking Price: Freehold

Neighbourhood: C4 Lawrence Park North
Address: 177 Old Orchard Grove
Sold price: $2,058,000 (206% of $999,900 list price)
DOM: 7

This detached home in Lawrence Park North sold for $2,058,000, which was a whopping 206% above the $999,900 listed price. Though, while this pricing strategy may leave you scratching your head, Ingram said it isn't as ridiculous as the 2020 winner which sold for a similar amount ($2.05M) but had an even more ridiculous $500,000 listing price. 

Largest Amount "Over Asking"

Neighbourhood: C9 Rosedale-Moore Park
Address: 7 Rosedale Road
Sold price: $6,600,000 ($2,100,000 over $4,500,000 list price)
DOM: 7

This Rosedale-Moore Park home sold for more than $2 million over asking. While houses selling for significantly more than their listing price aren’t uncommon in Toronto’s perpetually dramatic real estate market, $2.1 million over asking is fairly rare air. As such, the listing agent referred to the property as a "unicorn" home for the sought-after neighbourhood.

Highest Priced Property Sold "Over Asking"

Neighbourhood: C9 Rosedale-Moore Park
Address: 3 Douglas Drive
Sold price: $13,000,000 ($200,000 over $12,800,000 list price)
DOM: 48

This Rosedale-Moore Park home isnt only notable for selling over the asking price at $12.8 million, but also for going over the asking price after spending 48 days on market.

"If you saw a place on the market for over a month you definitely wouldn't start your bidding up there. I'm guessing the sellers lucked into having two people interested at the same time and played them off against each other," said Ingram.

Smallest Percent of Asking Price: Freehold

Neighbourhood: C1 Trinity-Bellwoods
Address: 219 Roxton Road
Sold price: $1,550,000 (71% of $2,195,000 asking price)
DOM: 64

Located in Toronto's Trinity-Bellwoods neighbourhood, this home was an "Attention builders/renovators/investors" listing. As noted by Ingram, there were no interior photos, but the listing did mention that the home was set up as a fourplex with two units rented, one vacant, and one gutted and needing work. As such, the home sold for $1,550,000 -- 71% less than the original $2,195,000 asking price.