Real estate listings flood the market as prices increase in Mississauga

Those interested in buying a home will find more listings in Mississauga these days.

New listings jumped by 158.9 per cent in Mississauga up from 421 in December to 1,090 listings in January, according to an analysis of the Toronto Regional Real Estate Board data from real estate brokerage Zoocasa.

“After a slow December, January brought a revival to the Mississauga real estate market,” Zoocasa said in the analysis.

Sales activity increased across all property types, with total sales rising by 20.1 per cent from December to 346 transactions.

The average property price of all home types in Mississauga saw a significant rise, up by 7.1 per cent from $977,833 in December to $1,047,02, Zoocasa noted.

Months of inventory and average property days on market were largely unchanged from last month, with months of inventory at 3.5 months and average property days on market at 59 days.

Among all property types, the average price of detached homes increased the most from December, rising by 14.2 per cent from $1,397,177 in December to $1,596,150 in January, suggesting buyers will look more toward detached homes in the coming spring market, Zoocasa said.

Detached home sales increased by 18.6 per cent month-over-month and new listings of detached homes increased by 166.1 per cent from December. But detached homes are sitting on the market for longer—for an average of 41 days.

Semi-detached homes saw a smaller increase in sales, up by 7.5 per cent, with average prices up 2.4 per cent to $1,047,977. New listings rose by 80 per cent and with homes sitting on the market an average of 30 days.

Freehold townhouses experienced the most notable sales increase with a 91.7 per cent increase from December. However, the average price decreased slightly by 0.9 per cent to $991,557.

Townhomes are trading hands the fastest among all property types in Mississauga, with an average listing days on market of just 25 days.

Housing inventory is also surging in the condo townhouse and apartment condo segments, with month-over-month increases in new listings of 165.1 per cent and 173.6 per cent, respectively.

The average price for condo townhouses increased by 4.3 per cent to $804,888, while apartment condo prices edged up by just 0.6 per cent from $597,315 to $601,119.

Sales improved in both segments since December, with apartment condo sales rising notably by 30.1 per cent, and condo townhouse sales increasing by 1.8 per cent.

With another recent key interest rate cut, buyers and sellers may be more optimistic in the coming months.

“A growing number of homebuyers will take advantage of lower borrowing costs as we move toward the 2025 spring market, resulting in increased transactions and a moderate uptick in average selling prices in 2025,” said Toronto Regional Real Estate Board chief market analyst Jason Mercer.

“However, the positive impact of lower mortgage rates could be reduced, at least temporarily, by the negative impact of trade disruptions on the economy and consumer confidence.”