  Transition metal dichalcogenides are promising candidates to show long-range
ferromagnetic order in the single-layer limit. Based on ab initio calculations,
we report the emergence of a charge density wave (CDW) phase in monolayer
1T-CrTe$_2$. We demonstrate that this phase is the ground state in the
single-layer limit at any strain value. We obtain an optical phonon mode of
$1.96$ THz that connects CDW phase with the undistorted 1T phase. Localization
of the $a_{1g}$ orbital of CrTe$_2$ produces an out-of-plane orientation of the
magnetic moments, circumventing the restrictions of the Mermin-Wagner theorem
and producing ferromagnetic long-range order in the two-dimensional limit. This
orbital-localization is enhanced by the CDW phase. Tensile strain also
increases the localization of this orbital driving the system to become
ordered. CrTe$_2$ becomes an example of a material where the CDW phase produces
the stabilization of the long-range ferromagnetic order. Our results show that
both strain and phase switching are mechanisms to control the 2D ferromagnetic
order of CrTe$_2$.
