Average price of Mississauga homes rises year-over-year

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Like the rest of the GTA, Mississauga’s real estate market took quite a beating since the days of multiple bidding back in the spring of 2017.

Since those heady days, there were five straight months of year-over-year declines to start 2018.

According to monthly tracking data from the Toronto Real Estate Board (TREB) released Thursday, that streak came to an end in June, with the average sale price of all types of dwellings coming in at $726,211.

There were 833 total sales in June, compared to 837 in June 2017. Through the first six months of year, Mississauga has seen 3,279 total sales compared to 5,478 in the first half of 2017, a decrease of 40.1 per cent.

Compared to the first half of 2016 when there were 6,256 sales, Mississauga’s market has seen a 46.6 per cent increase in sales through the first six month of this year.

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The market average price remained flat month-over month as well, posting a statistically insignificant decrease from May’s average sale price of $726,897.

Overall, the average price for a home in Mississauga remains down 10 per cent compared to the market peak average of $798,670 set in March 2017.

Mississauga did not see the same month-over-month jump in sales experienced across TREB’s Realtor member area as a whole, which jumped by more than 17 per cent between May and June.

It is clear that the market has slowed down a lot and there are thousands of real estate agents now booking vacation in the months which were typically very busy. -CINEWS

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