Properties Under $2 Million

Explore properties in Ontario from the comfort of your home

Explore Properties In Ontario Under $2 Million

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The Ontario real estate market is largely impacted by the city, employment opportunities, availability of amenities, and extra features including swimming pool, hot tub, and community amenities.  

To streamline your search, this page only includes houses over $1 million and under $2 million in Ontario. 

What is the average house in Ontario?

The average price of a detached house in Toronto is $1.4 million (as of January 2022). With a 20% down payment, you’ll be making monthly mortgage payments of $6,000. House prices in Toronto and neighbouring cities including Brampton, Mississauga, and Markham are rising steadily at 10-15% every year. 

If you’re looking for affordable luxury detached or semi-detached houses in Ontario, consider moving away from the Greater Toronto Area. The average price of a detached house in London, Ontario is $700,000 (As of December 2021), a 27% jump from December 2020. 

The Kitchener-Waterloo area is another favourite among affordable luxury home buyers. With an average detached house price of $1,021,353, the Kitchener-Waterloo area saw a 34.7% jump compared to December 2020. 

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Ontario housing market forecast for 2022

Drop in mortgage rates in 2020 encouraged people across Canada to become homeowners. While mortgage rates continue to remain record-low (expect a rise in the second half of 2022), all-time low housing inventory in Ontario is rapidly increasing property prices. The Bank of Canada has yet to announce the increased mortgage rate. 

Due to the pandemic, economic immigration and international students were almost absent throughout 2020 and 2021. However, with colleges and universities opening up for in-class sessions and the Canadian government speeding up the immigration backlog, it’s safe to expect an overwhelming increase in both mortgage interest rate and house prices in Ontario. 

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Will housing prices in Ontario drop in 2022? 

Winter real estate in Ontario this year has been very active compared to the last few years. This is a clear indication that limited supply and increased demand will continue to influence the real estate market in Ontario. Most housing markets in Canada saw a 17.1% year-over-year increase in the last quarter of 2021. The increase in house prices is expected to slow down compared to 2021, making it easier for immigrants and young Canadians to become homeowners in Ontario. 

Like always, I am here for all your real estate needs. Please reach out to Realtor Ose Ainabe, top realtor in Mississauga via email or phone +1 647-761-5237. 

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Ose is informative, professional, and very attentive. As first-time home buyers, we wanted a real estate agent who would answer our questions and doubts. He always picked up our calls and even though our offers kept getting outbid, he kept our spirits high. Thank you for helping us buy our new home.

Steve A

It was a pleasure working with Ose. He is very knowledgeable, which made the process stress-free for me. I was initially misinformed and thought that my budget was not going to get me a home. But Ose exposed me to all the mortgage products and today I am a proud homeowner. Thank you Ose.

Patrick O

We had an amazing experience working with Ose to buy our first investment property in Bowmanville. He was more than patient in answering our questions. Couldn’t have asked for a better real estate agent and mortgage broker to work with.

Dipo O

Contact Realtor Ose Ainabe