The $1.5 million price point in Toronto real estate is something of a breakthrough number. Once you have this much to spend, you're guaranteed a nice home in a nice area. It's frightening to think that it costs that much to reach such a designation, but such is the reality of the Toronto housing market.

Here's what a $1.5 million house looks like in Toronto.

$1,488,000 in Riverdale
Detached homes are finally within reach at this price point, and this three storey home with four bedrooms, four bathrooms, and a finished basement offers a lot of space for a relatively central location. It's been recently renovated and features three decks on which to soak up the sun.

$1,479,000 in the Beaches
Located just north of the bustling Queen East stretch of the Beaches, this two storey detached home has been completely renovated in a rather neutral/conservative style that will suit a variety of tastes. There's only three bedrooms to work with, but you're paying for location and the good looking outdoor space.

$1,495,000 in Rosedale
This one will go over the asking price. Located at the border of Rosedale and Moore Park, the lot size is huge, while the interior attains a great balance between classic and modern design. The kitchen alone is worth a bidding war, and there's plenty of space for families.

$1,495,000 in Lawrence Park
This cozy Lawrence Park home has a great backyard and makes good use of the available space to appear more airy than it actually is. Prospective buyers will have to check their dreams of a grand master bedroom, but you can imagine a mid-sized family being more than comfortable here. The hardwood actually seems a bit cold here, so be prepared to invest in some rugs to warm the place up.

$1,499,000 near Little Italy
Here's one that underscores the unfairness of Toronto real estate prices. Stacked up against the home in Rosedale listed above, this just doesn't compete, but it's also got a far better walk score and proximity to lively neighbourhood. There's nothing wrong with it, of course - it's just tough to believe that it'll fetch $1.5 million (but you know it will).

Thanks to SeventyNine Construction for sponsoring this post.