Home purchased for $4.2M sells for huge loss in Mississauga

A home purchased in 2021 just sold for a huge loss in Mississauga.

The latest real estate reports show detached home prices have increased.

The average home price hit $1,014,120 in June in Mississauga, just slightly below the June 2025 average of $1,019,578, according to Toronto Regional Real Estate Board data, but well above May’s average price of $971,047.

The average selling price of a detached home increased 8.4 per cent to $1,482,130 month-over-month. This is also up from the June 2025 average of $1,442,898.

However, this is much lower than February 2022 when the average price of a detached home reached $1,921,283 in Mississauga, according to TREBB data.

People who purchased in early 2022 are facing huge losses if they are forced to sell now.

A Toronto home sold for a $1.65 million loss in February. A Mississauga home sold for a $425,000 loss in March.

The latest example is a home at 76 Ben Machree Dr.

The custom-built home sold for $4,225,000 in June 2021, according to online real estate records.

It was listed for $4,249,000 in 2024. The price dropped to $3,999,000 and then $3,889,000 in 2025.

The home finally sold for $3,125,000 last week, a $1.1 million loss.

“Bought for $4.225M in 2021. Sold for $3.125M,” real estate commentator ShaziGoalie said on X. “People kept saying ‘detached homes are gold.’ This wasn’t even a peak of the market purchase.”

The Port Credit home, steps from Lake Ontario, offers approximately 7,100 square feet of living space, according to the listing from Re/Max Real Estate Centre Inc.

Features include a two-storey living room and breakfast room, a main-floor library, a theatre, wet bar, rooftop terrace and a saltwater pool.

🚨 A MISSISSAUGA LUXURY HOME JUST LOST $1.1 MILLION.

Bought for $4.225M in 2021.

Sold for $3.125M.

People kept saying “detached homes are gold.”

This wasn’t even a peak of the market purchase. pic.twitter.com/vitREawSZ0

— Shazi (@ShaziGoalie) July 12, 2026

Lead photo: Re/Max Real Estate Centre Inc.