COVID-19 has done nothing to slow down ever-rising and record-setting home prices in Mississauga.
Mississauga’s real estate market started out 2020 at a record-setting pace in terms of average prices, and according to the latest GTA market statistics from the Toronto Region Real Estate Board (TRREB) a detached home in Canada’s sixth-largest city is now on average more expensive than most of neighbouring Toronto.
The average sale price for Mississauga detached homes across 360 sales hit a record $1,307,832 last month, a $244,303 — or 23 per cent — year-over-year increase compared to the same month last year. Last month was the first time the market average surpassed $1.3 million.
The average sale price in TRREB’s Toronto West district in August was $1,270,053 with 346 sales while Toronto East saw 459 sales at an average sale price of $1,118,506. Only Toronto’s central region — which encompasses the downtown core — saw a higher average then Mississauga at $2,385,278 across 294 sales.