Home prices under $500K in the 5 cheapest Greater Toronto neighbourhoods

The five least expensive neighbourhoods have homes for under $500,000 in the Greater Toronto Area.

A new housing report from real estate platform Wahi reveals where homes sold for the lowest (and highest) prices in the GTA last month.

Each month, Wahi lists neighbourhoods with the most and least expensive homes. Wahi used the median home sale prices in GTA neighbourhoods with five or more sales in March to create the lists.

Last month, the least expensive neighbourhoods were in areas with large concentrations of condo buildings, including central Mississauga.

The Queen Street corridor in Brampton was the least expensive last month, according to Wahi’s data.

The median sold price in this Brampton neighbourhood was $397,500 in March, down from $407,000 in February. Eight homes sold in this area last month.

Central Mississauga dropped to fourth on the list with a median sold price of $468,500, up from $475,000 last month. This area saw a large number of sales with 50 homes sold last month.

The Freeman neighbourhood in Burlington rounds out the top five with a median sold price of $470,000. Five homes sold here last month.

The most expensive neighbourhoods of the city tend to be in areas with larger, luxury homes.

Last month, Toronto’s Lawrence Park neighbourhood took the top spot with a median sold price of $4,500,000. Seven homes sold in March.

The Kingsway South neighbourhood in Etobicoke was second with a median price of $3,015,000, up from $2,298,000 last month. A total of 11 places sold last month.

Eastlake in Oakville was third with a median sold price of $2,844,000. Six homes sold here in March.

For more information on these neighbourhoods, see Wahi’s guide here.

Lead photo of City Centre, Mississauga: Google Maps