The health of real estate markets is an important consideration for homebuyers and sellers. Recent analysis suggests that Mississauga’s real estate markets are both healthy and stable.
Mississauga real estate sales have slowed since peaking in 2017. However, the average price of Mississauga homes has fared better than the rest of the GTA since that time.
Since 2017, Mississauga home prices have fallen by about 4% on average. This is lower than neighbouring cities of the GTA. Brampton prices have fallen 6% while prices in Newmarket and Aurora have fallen the most by 30% on average. Richmond and Markham saw price decreases of 27 and 24% on average. Meanwhile, Oakville prices fell by 18% on average.
But outside of the GTA, housing prices show another story. Windsor prices increased 25% and London prices increased by 19% on average. The Ottawa region also saw price gains of 10%.
The numbers show that, since Ontario’s Fair Housing Plan was established, housing markets have generally stabilized, with some cities faring better than others. Mississauga seems to have came out relatively unscathed compared to other parts of GTA.
As real estate markets evolve, the Loretta Phinney Team can help to point both buyers and sellers in the right direction. Let us know if you have any questions about real estate in Ontario.