5 Mississauga homes that recently sold for under the asking price

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Published September 14, 2022 at 3:32 pm

1009 hedge drive

Anyone watching the real estate market these days knows prices have taken a nose dive.

Home prices are finally coming down after soaring prices the last two years. The benchmark price for single-family homes in Mississauga was $1,380,800 in August 2022, actually lower — 3.4 per cent less than last August, according to the Mississauga Real Estate board’s last report.

The number of homes sold is also on the decline, blamed on rising interest rates.

Only 487 units were sold in August 2022 on the the MLS System of the Mississauga Real Estate Board. This was a substantial reduction of 40.5 per cent from August 2021.

And a look at the real estate market in the city shows a trend toward homes selling at asking price or just under.

Here are five homes that recently sold for under the asking price:

Lakeview home on Applewood Drive

The three-bedroom, two-bathroom home at 1540 Applewood Rd. in the Lakeview area sold 11 days after it went up for sale on Aug. 29. It came on a large lot with good-sized bedrooms and hardwood floors throughout. The home is close to Dixie Mall and the QEW.

Listed for $1,249,9000, it sold for $1,100,000.

1540 applewood drive

Lorne Park home on Raintree Lane

This freehold townhouse at 1043 Raintree Lane, was listed for $989,900 and sold for just under the asking price at $941,000. It’s the end unit in a row of town homes and came with three bedrooms and a private yard. A big selling point was likely its quiet location and that it’s walking distance to Lake Ontario.

It sold on Sept. 9 after 44 days on the market.

Back in 2004, this home sold for $262,000.

1043 raintree lane

Clarkson home on Hindhead Road

This home at 2048 Hindhead Road came with a bright sun room and a in-ground swimming pool. The three-bedroom home sits on a mature property with large trees and perennial gardens. It’s close to Clarkson GO Train station and near the QEW.

But despite all that, it sat on the market for 56 days. It sold on Sept. 9 for $1.2 million, significantly under the original asking price of $1,399,900. The asking price had come down to $1,279,000.

2048 hindhead road

Lisgar home on Gemini Crescent

This four-bedroom home at 6099 Gemini Cres. came with a home theatre. It also has hardwood floors and a modern kitchen with granite countertops and stainless steel appliances. There’s also room for a pool table and a garage.

Listed for $1,249,000, it sold for just under that at $1,191,000 on Sept. 9. But it had been listed for $1.5 million in June. This same home sold for $695,000 in 2015.

6099 gemini crescent

Lakeview home on Hedge Drive

This updated bungalow at 1009 Hedge Drive sat on the market for 54 days before selling on Sept. 12. The four-bedroom home has been recently updated with a spacious open concept main floor living and dining area. The primary bedroom has a walk-in closet. The finished basement has one of the bedrooms plus a home office.

It sold for $1.4 million just under the $1,499,900 asking price.

1009 hedge drive

Sources: House Sigma and Toronto Regional Real Estate Board

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