If it is stylish and arctic weather warm like my MEC down parka, I would pay $1200.Depends on your budget and what you like or deem important in a winter jacket. But for the best "userbility and functionality", I like the ski jackets from Descente, Spyder, Arcteryx, Phenix, Solomon, Sherpa and the like. These jackets are designed for hours on the slopes so are lightweight, ultra warm, very maneuverable, uses either real down or high tech insulation, have fully taped seams, are waterproof and available in a wide range of colours, even very subdued greys and blacks so you don't stick out in the city. You can pick up one of these jackets for $700-1200.
Forget Canada Goose, they are heavy and more style than substance. And you will have the same jacket as every 3rd person in downtown TO. Don't even look at the Nikes, Columbias, entry level North Faces, etc.
Ski jackets in my experience aren't that warm, as skiing is an energy intensive sport. They tend to be lighter weight.