A look at average house prices in the most and least expensive neighbourhoods in Mississauga

 

Although almost every business sector has been hit by the COVID-19 pandemic, house prices in Mississauga are holding steady and homes—especially detached ones—remain quite costly in the city (even as sales decline dramatically). 

According to data released by the Toronto Region Real Estate Board and broken down by real estate website and brokerage Zoocasa, there were 532 new listings in Mississauga in April and 260 home sales—a steep 72 per cent year-over-year decline. 

That said, average home prices in Mississauga grew faster than the regional average at 8 per cent annually, ending April at $832,112. A closer look at housing types reveals that detached house prices grew 5 per cent year-over-year to $1,168,041, while semi-detached and condo apartments grew 6 per cent to $802,661 and $500,349, respectively.

But while home prices remained high in April 2020, some Mississauga neighbourhoods continued to offer more affordable options for buyers on a budget. 

Nikhil Oberoi, a sales representative with Cloud Realty, recently supplied insauga.com with some data that shows just how expensive—and affordable—some neighbourhoods are compared to others. 

Here's a look at the average house price (all home types combined) in various Mississauga neighbourhoods, ranked from most to leave expensive:  

Lorne Park: $1,801,806

The most expensive neighbourhood In Mississauga, it takes, on average, 19 days to sell a home. Properties are currently selling for 1.3 per cent higher than their list price.

Mineola: $1,577,325

The second most expensive neighbourhood in Mississauga, it takes 29 days, on average, to sell a Mineola home. Properties are currently selling 1.1 per cent below their ask price.

Sheridan: $1,218,735

The third most expensive neighbourhood in Mississauga, it takes 25 days, on average, to sell a home. Properties typically sell 3.2 per cent below their ask price.

Port Credit: $1,111,926

The fourth most expensive neighbourhood in Mississauga, it takes about 23 days to sell a home. Properties are currently selling for 0.9 per cent lower than their list price.

Clarkson: $1,073,995

The fifth most expensive neighbourhood in Mississauga, it takes 20 days on average to sell a home. Properties are currently selling 0.2 per cent higher than their ask price.

Lakeview: $1,014,810

The sixth most expensive neighbourhood in Mississauga, it takes 23 days on average to sell a home. Properties typically sell 3.1 per cent higher their ask price.

Meadowvale Village: $981,006

The seventh most expensive neighbourhood in Mississauga, it takes, on average, 13 days to sell a home. Properties are currently selling for 3.6 per cent higher than their list price.

East Credit: $933,485

The eighth most expensive neighbourhood in Mississauga, it takes, on average, 12 days to sell a home. Properties are currently selling for 3 per cent higher than their list price.

Fairview: $928,806

The ninth most expensive neighbourhood in Mississauga, it takes, on average, 21 days to sell a home. Properties are currently selling for 7 per cent higher than their list price.

Erin Mills: $899,624

The tenth most expensive neighbourhood in Mississauga, it takes, on average, 15 days to sell a home. Properties are currently selling for 1.1 per cent higher than their list price.

Streetsville: $896,836

The eleventh most expensive neighbourhood in Mississauga, it takes, on average, 20 days to sell a home. Properties are currently selling for 10 per cent higher than their list price.

Central Erin Mills: $881,008

The twelfth most expensive neighbourhood in Mississauga, it takes, on average, 14 days to sell a home. Properties are currently selling for 1.4 per cent higher than their list price.

Churchill Meadows: $873,902

The thirteenth most expensive neighbourhood in Mississauga, it takes, on average, 11 days to sell a home. Properties are currently selling for 2.2 per cent higher than their list price.

Lisgar: $868,203

The fourteenth most expensive neighbourhood in Mississauga, it takes about eight days to sell a home. Properties are currently selling for 2.6 per cent higher than their list price.

Rathwood: $863,310

The fifteenth most expensive neighbourhood in Mississauga, It takes about 16 days to sell a home. Properties are currently selling for 5.2 per cent higher than their list price.

Erindale: $801,945

The sixteenth most expensive neighbourhood in Mississauga, it takes about 18 days to sell a home. Properties are currently selling for 4.6 per cent higher than their list price.

Cooksville: $778,663

The seventeenth most expensive neighbourhood in Mississauga, It takes about 14 days to sell a home. Properties are currently selling for 3.5 per cent higher than their list price.

Creditview: $760,370

The eighteenth most expensive neighbourhood in Mississauga, It takes about 22 days to sell a home. Properties are currently selling for 0.9 per cent higher than their list price.

Meadowvale: $752,385

The nineteenth most expensive neighbourhood in Mississauga, It takes about 10 days to sell a home. Properties are currently selling for 3.7 per cent higher than their list price.

Applewood: $752,206

The twentieth most expensive neighbourhood in Mississauga, it takes about 13 days to sell a home. Properties are currently selling for 7.3 per cent higher than their list price.

Hurontario: $719,314

The twenty-first most expensive neighbourhood in Mississauga, it takes about 12 days to sell a home. Properties are currently selling for 3.3 per cent higher than their list price.

Malton: $677,885

The twenty-second most expensive neighbourhood in Mississauga, it takes about 17 days to sell a home. Properties are currently selling for 4 per cent higher than their list price.

Mississauga Valleys: $635,785

The twenty-third most expensive neighbourhood in Mississauga, it takes about 18 days to sell a home. Properties are currently selling for 2.3 per cent higher than their list price.

City Centre (Square One Condos): $635,785

The least expensive neighbourhood in Mississauga, it takes, on average, 12 days to sell a home. Properties are currently selling for 3.3 per cent higher than their list price.

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Cover photo courtesy of The Canadian Press