That benchmark price has moved 2.8 percent higher than a year earlier, so what it buys today is slightly less generous than the same number would have bought twelve months ago, even though the dollar figure itself has only shifted modestly.
Inside that budget, the biggest tradeoffs are age versus size and location versus lot: an older home near the core often has more character and a larger, established lot, while a newer build farther out typically offers more efficient mechanical systems and lower near-term maintenance.
What a specific budget actually buys on a specific street is a comparable-sales question, not a citywide-average one. Get your hand-reviewed valuation from Joel Dyck.