Mississauga Real Estate Price: Mississauga is the sixth biggest city in Canada. It is in southern Ontario, right on the beautiful Lake Ontario shore. Mississauga is only 30 minutes by car from downtown Toronto. It is also close to Niagara Falls and other day trips, and it’s less than 90 minutes from the US border. 

Mississauga has a lot of big stores that make it a popular place to shop. The CN Tower, Dundas Street West, and Wild Water Kingdom are just a few of the sights that are there. In the winter, Mississauga Celebration Square turns into an ice rink and hosts multicultural events. 

There are four schools and universities in Mississauga. The University of Toronto Mississauga and Metalworks Institute are two of them. 

Why You Should Buy A Home In Mississauga

Mississauga is different from other places because it’s the right mix of city and suburb living. It has all the things you’d expect to find in a big city, like high-end shops, trendy bars, and gourmet restaurants. Still, it has kept its cute small-town feel, with quiet streets, cute neighbourhoods, and nice people who live there. 

Great Location

Mississauga is in a great spot, close to nature, the water, and Toronto. People who live there can enjoy the best of everything, from beautiful hiking and bike trails in nearby parks to water sports and fun things to do on Lake Ontario. 

Because it’s close to Toronto, there are more fun and exciting things to do, and it’s easy for workers to get to work.

Fun Attractions And Events

Mississauga has a lot of fun things to do and see. The Art Gallery of Mississauga shows new Canadian art, and the Mississauga Living Arts Centre has theatre events and art classes. 

The city also has the well-known Paramount Fine Foods Centre sports and entertainment centre, where concerts, sports games, and other events are held. 

Mississauga has many festivals and events all year long. One of them is Carassauga, a multicultural fair with food, music, and performances.

High-Class Living And Atmosphere

There is a high-class vibe and way of life in Mississauga, which is clear from a large number of high-end homes, restaurants, and shopping experiences. 

Excellent healthcare facilities, world-class educational institutions, and strong support for small businesses are all signs that the city is dedicated to meeting the wants of its residents.

High-Class Area In Mississauga,

Mississauga has a lot of high-end neighbourhoods, each offering a different way to live. These are just a few of them.

Lorne Park

The neighbourhood of Lorne Park is lovely. It has a lot of history, beautiful homes, and a strong sense of community. People love it because it has big lots, tall trees, and easy access to Lake Ontario. 

People living in Lorne Park enjoy a laid-back lifestyle and easy access to the city’s services. Families looking for a quiet and private place to live often choose this neighbourhood because it has great schools and parks.

The Mineola

Mineola is one of the most sought-after neighbourhoods in the area because it has a peaceful and high-class feel. The area has grand homes bordered by lush greenery and old trees. People who live in Mineola can easily get to beautiful parks and golf fields.

Port Credit

The town of Port Credit is full of life and is on Lake Ontario. It’s famous for its parks and homes on the water that come with docks and piers. 

The town has a laid-back, small-town feel, and you can walk to most of the shops, bars, and cafes. Port Credit is also a great place to do things on the water—residents like to paddleboard, kayak, and fish.

Houses in the area

Beautiful houses and properties can be found in Mississauga, which is known for its high-end real estate. There are a lot of great places to live in the community, from modern, simple apartments to luxurious mansions with views of Lake Ontario and the woods nearby.

Estates 

Many of the private farms and mansions are appealing because they offer privacy and seclusion that can’t be found anywhere else. 

Mississauga’s private estates have beautiful buildings, state-of-the-art amenities, and stunning views of everything from lush forests to sparkling waterfronts. 

A lot of homes have unique features like heated pools, special activity rooms like home theatres, and large garages that can fit more than one car.

Townhouses

People who want to live in a low-maintenance home, families, and young workers often choose townhouses. Townhouses are a comfy and easy way to live because they have well-thought-out layouts and high-end features. A lot of townhouses are in nice parts of cities, close to shops, schools, and leisure areas.

The cost of homes in Mississauga

In December 2023, home prices in Mississauga’s housing market decreased slightly, even though the market became much tighter as new sales dropped sharply. 

As of December 2023, the average price of a home in Mississauga was $951,608. This was 4% less than the previous month and 2.6% less than the same time last year.

In the GTA as a whole, home prices are going up, but they’re going down in Mississauga. House prices in the GTA are up 3% year-over-year, and the average sold price in Brampton is also up 1% year-over-year, though only slightly. 

The average home price in Brampton is now higher than in Mississauga, and there have been more sales. In December 2023, 295 homes were sold in Brampton, and 285 homes were sold in Mississauga.

Types of Property

The poor performance of single-family detached houses is a big reason Mississauga’s average home price is decreasing. 

In December 2023, a detached home in Mississauga was $1,355,241, 7% less than the previous year. The average price of a single home is down 3% from one month to the next.

The average price of a semi-detached home has dropped 10% every month to $949,876. This is an attempt by sellers of semi-detached homes to hide the fact that separate homes aren’t doing well. That’s less than $1 million and down 1.5% from last year’s time.

The price of a freehold townhouse has dropped 6% since last year to $922,683. Prices for condo apartments stayed about the same from one year to the next, at $610,964.

Activity in Sales

In Mississauga, sales were all over the place in December 2023, going up 1.8% year-over-year. In December 2023, 285 homes were sold in Mississauga.

Sales of detached homes are up 2% year over year, sales of semi-detached homes are up an amazing 68%, and sales of private townhouses are down 13%. Condo sales, on the other hand, are down 6% year-over-year.

Mississauga’s new listings are up 7% year-over-year as owners try to get rid of their homes because of high mortgage rates. 

However, this is still a big drop from November 2023, when there were 912 new listings. The number of sales to new listings (SNLR) has now reached 80%.

An SNLR above 60% means that buyers are fighting with each other for a limited number of listings. On the other hand, an SNLR below 40% means that buyers are in the driver’s seat. 

The big jump from last month’s 41% SNLR to this month’s 80% SNLR shows how listings have been slowing down lately because of the holiday season. This month’s SNLR is also much higher than the 12-month average of 46.4%.

Median Price from the Mississauga Real Estate Board

Single Houses

Not much changed in the typical sale price of single-family detached homes in the fourth quarter of 2023. It went up by only 0.3% year-over-year to $1,301,100.

Semi-detached homes

In the fourth quarter of 2023, the typical sale price for semi-detached homes stayed the same from the previous year to $965,000.

Condos townhouses

For condominium townhouse units, the median sale price didn’t move much. It went down 0.6% year-over-year to $775,000 in the fourth quarter of 2023.

Condominium apartment

The typical sale price for condo apartments didn’t change much from the previous year; it went down by only 0.4% to $590,000 in the fourth quarter of 2023.

Frequently Asked Questions (FAQs) about Mississauga Real Estate Price:

Q: What makes Mississauga an attractive place to live and invest in real estate?

A: Mississauga offers a perfect blend of city and suburban living, with high-end shops, gourmet restaurants, and a small-town feel. Its proximity to nature, Lake Ontario, and Toronto and its vibrant cultural scene and events make it an appealing location for homebuyers.

Q: What are some popular neighbourhoods in Mississauga known for high-class living?

A: Lorne Park, Mineola, and Port Credit are among the high-end neighbourhoods in Mississauga. These areas offer a mix of history, grand homes, lush greenery, and waterfront living, attracting those seeking a peaceful and upscale lifestyle.

Q: What types of properties are available in Mississauga, and what features do they offer?

A: Mississauga boasts a variety of properties, including high-end estates with privacy and unique features like heated pools, townhouses for low-maintenance living, and beautiful houses with views of Lake Ontario and nearby woods. Properties often include state-of-the-art amenities.

Q: How did the Mississauga real estate market perform in December 2023?

A: In December 2023, home prices in Mississauga decreased slightly, with the average price at $951,608. This marked a 4% decrease from the previous month and a 2.6% decrease from the same time last year. Despite the drop, sales activity varied, with detached homes up 2%, semi-detached homes up 68%, and condo sales down 6% year-over-year.

Q: How do Mississauga home prices compare to other areas in the Greater Toronto Area (GTA)?

A: While home prices in the GTA are generally increasing, Mississauga experienced a 3% year-over-year decrease. In December 2023, Brampton’s average home price surpassed Mississauga’s, and Brampton had more home sales.

Q: What is the average price of different types of homes in Mississauga?

A: In December 2023, a detached home in Mississauga averaged $1,355,241, down 7% from the previous year. Semi-detached homes were priced at $949,876, down 10%, while freehold townhouses were at $922,683, a 6% decrease. Condo apartments maintained a similar price at $610,964.

Q: How did the real estate market activity change in Mississauga in December 2023?

A: Sales in Mississauga were diverse, with detached home sales up 2%, semi-detached up 68%, private townhouses down 13%, and condo sales down 6% year-over-year. New listings increased by 7%, but there was a significant drop from November, and the Sales to New Listings Ratio (SNLR) reached 80%.

Q: What does the Sales to New listing ratio (SNLR) indicate about the Mississauga real estate market?

A: An SNLR above 60% suggests high demand and competition among buyers. The December 2023 SNLR of 80% indicates intense buyer competition for a limited number of listings, showcasing the impact of slowing listings during the holiday season.

Q: Are there high-class amenities and facilities available in Mississauga?

A: Yes, Mississauga offers excellent healthcare facilities, world-class educational institutions, and strong support for small businesses. The city is dedicated to meeting its residents’ diverse needs and desires, contributing to its high-class living atmosphere.

Q: What factors contribute to the unique appeal of Mississauga’s real estate market?

A: Mississauga’s unique appeal lies in its ideal location, a mix of urban and suburban features, cultural attractions, and proximity to nature and the waterfront. Its upscale neighbourhoods and diverse real estate options reflect the city’s commitment to high-quality living.