5 Most Expensive Neighbourhoods in Mississauga
For the past little while, the wild escalation in home prices has been a troubling (albeit interesting) topic of discussion in almost every circle. While we all know homes are more expensive than ever before, few know exactly how much Mississauga’s most luxurious homes sold for in the past year (or what neighbourhoods they sold in).
Traditionally, the most exclusive luxury homes are in South Mississauga and last year was no different. To determine the top five most expensive places to live in Mississauga, I compared freehold properties that sold over $2,000,000 in 2016. The numbers were astonishing, and some communities tied for the number of homes sold. To break the tie, I used the total dollar volume of sales of the homes in the $2,000,000 plus range, according to the Toronto Real Estate Board.
In the luxury home market (homes over $2,000,000) there were a total of 130 properties sold in all of Mississauga last year. The average price of homes above this benchmark price was $2,723,000. The average number of rooms was four bedrooms and six bathrooms. These georgous homes took an average of 45 days to sell.
Here are the top 5 most luxurious neighbourhoods in Mississauga, based on the prices specific homes sold for.
5) Port Credit
Port Credit just edged out Erin Mills for the final spot in the luxury home market in 2016. Both had six homes that sold above the two million dollar mark but Port Credit edged out Erin Mills in dollar volume at $13,795,000 above the $13,315,000 in Erin Mills. That being said, Erin Mills had their most expensive property sell for $2,585,000 versus the $2,545,000 that was shelled out for the most expensive home in Port Credit.
Sheridan, including Sherwood Forest, actually tied for the total number of home sales at about 13. The total dollar volume was about 5 million less ,coming in at $39,641,000. The most expensive home sold in Sheridan went for $4,401,000.
Clarkson was third in luxury home sales last year. There were roughly 13 homes sold with a total volume of $44,792,000 in homes above the $2,000,000 price tag. The most expensive home in Clarkson sold for $4,650,000. Clarkson is very close in proximity to Lorne Park and in many cases is in the same school district. Unless you’re looking at a map, some people aren’t aware of the border between the two.
Mineola came in as the second most expensive place to live in Mississauga last year. However, it wasn’t even close to Lorne Park with the total number of sales at about 28, and a total dollar volume of $74,850,000 dollars. The most expensive home in Mineloa sold last year for $5,450,000! While those numbers are high, it’s important to note the majority of sales were between $2,006,000-$2,800,000.
1) Lorne Park
Lorne Park was the most expensive place to live in Mississauga in 2016. During the year, there were about 45 homes sold for over $2,000,000. Interesting enough, the most expensive home in all of Mississauga sold in Lorne Park for $6,300,000!
Now that’s a high-priced home!