Price of Mississauga townhouse drops over $400k in two years

A Mississauga townhouse that sold for $1.2 million in early 2022 recently sold at a significant 35 per cent loss.

According to a listing on HouseSigma that was subsequently highlighted on X by a real estate commentator, a five-bedroom (one below grade), three-bathroom house located at 15-2395 Bromsgrove Rd. in Clarkson just sold for $790,000 on May 15.

"Staggering Loss"

📍Mississauga, ON 🇨🇦

Mississauga Condo Townhouse Plummets 35% in Value in Just 2️⃣ Years, Sold for $430,000 Less! 👇🏽 pic.twitter.com/dDaJ4J0FMU

— Shazi (@ShaziGoalie) June 24, 2024

While it only sold a little under the asking price of $799,000, the difference between its sales price now and in 2022 is quite dramatic. 

In 2022, the home sold for $1,220,999–$430,000 more than it sold for in 2024. 

The listing’s history shows significant price fluctuations over the past two decades. The house once sold for just $203,000 in 2006. Its value climbed over the years, and it sold for $585,000 in 2019.

Just two years later, when prices climbed significantly amid waxing and waning COVID restrictions, the property sold for over $1 million. 

According to the listing, the house offers more than 1,200 square feet of space and a range of upgrades, including hardwood flooring, crown moulding, a renovated kitchen with stainless steel appliances and quartz countertops, pot lights and an attached garage.