Why is North York so expensive?
 

Average detached house in North York is about $2 million nowadays. Willowdale/Don Mills seem to be be just as expensive as North Toronto/Leaside.

It seems the answer is location, traditionally prestigious areas around Bayview and immigrant Chinese/Persian wealth.

Yea, it's not getting cheap anywhere. I'm not surprised, some housing (SFH) is now being torn down every year for new projects, so diminishing supply and increasing demand is doing no favours for the price tag anywhere. I do know a cheaper area however, although I'm not sure if it's a great amazing place to live. Over at Wilson and Keele, there's more affordable SFH but the area isn't amazingly convenient.

Yeah, there's really two "North Yorks": east and west of the Allen Rd./Dufferin.

The western third is more working class and less expensive.

This.

Wealth, prestige, not distant from downtown, and nobody's building homes.

With more immigrants, many wealthy, the demand and willingness to spend is increasing and supply is not.

Willowdale, Don Mills and Ledbury Park are adjacent to traditionally wealthy areas.

But North York IS a wealthy neighbourhood.