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This home located at 427 Cummer Ave. in Toronto’s north end is listed for $1-million on March 4, 2015.

Fred Lum/The Globe and Mail

Did you hear? Talking points for this weekend's social chatter

Toronto housing market gets richer as it hits record $1-million price tag

It hasn't even thawed outside yet, but Torontonians already have more fodder for the city's favourite preoccupation: real estate. This week, the average price of a detached home crossed the seven-figure threshold for the first time. What's a pain to our pocketbooks is a boon for local cocktail conversation. So before heading out this weekend, make sure you don't arrive at your engagement ill-equipped. A checklist:

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  • Give that friend in Vancouver a call for war stories from an even wilder housing market. Just because it’s your first time at the dance doesn’t mean you can’t sneak a peek at the routine.
  • What have you given up to make your already sky-high mortgage work? Court sympathy with your downgrade from Whole Foods organic tomatoes to the canned stuff from Costco.
  • If a friend is hosting in their semi-detached home, don’t let them steal your thunder. Everyone knows it’s your neighbours who argue the loudest, and you have the thinner walls to prove it.
  • Consider what else you could do with the minimum 20-per-cent down payment on a million-dollar house, like help the city fix all those winter potholes outside your house. This is your perfect segue to complaining about Toronto’s other favourite preoccupation: Traffic. Your companions will adore you.
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