Home purchased for $1.6M sells for huge loss in Brampton

A home purchased for $1.6 million in 2021 just sold for a huge loss in Brampton.

As the real estate market remains tough for sellers in the Greater Toronto Area, many homeowners are losing money if they must sell now.

While the average home price in the Greater Toronto Area increased 3.6 per cent month-over-month, or approximately $40,000, reaching $1,059,377 in September, Toronto home prices were down year-over-year in September, a recent real estate report found.

Home prices in the GTA are well below peak highs of 2021 or 2022.

Earlier this month, a home purchased for $1.6 million sold for a 45 per cent loss in Brampton. A St. Catharines home sold for 70 per cent less than the 2022 price. A home purchased in early 2023 sold for a 60 per cent loss in Hamilton in September, and a Niagara home sold for a $300,000 loss this summer.

The latest example is a four-bedroom home at 25 Hammerhead Rd. in northwest Brampton.

This large home with a legal basement apartment sold for $1,610,000 in September 2021, according to online real estate records.

It was listed for $1,650,000 in March 2024 but didn’t sell. The price dropped to $1,499,999 in October 2024, and the home was re-listed again several times in 2025 until the price went down again in July to $1,399,999.

It finally sold for $1,290,000 this month, a $320,000 loss.

The detached home has four bedrooms and five bathrooms.

The main floor features a separate family and living area, a private office, hardwood flooring throughout, and upgraded tiles, according to the listing. Other features include pot lights and nine-foot ceilings.

The legal basement apartment has three bedrooms and a separate entrance. It was rented for $2,000 a month, according to the listing.

There is also a large deck and seven parking spaces.

Lead photo: Re/Max Real Estate Centre Team Arora Realty