Mississauga
One of the largest cities of Canada is Mississauga. It is located in the neighborhood of Toronto on the shore of Lake Ontario. This is a beautiful city that attracts millions of people worldwide. Its population is about 7 million individuals.
One of the amazing things about Canadian cities is their affordable housing. A person with average yearly income can buy his own house in the city. There is Mississauga Celebration Square that hosts a yearly festival. This is a refreshing break for the families of the city after a hectic yearly routine.
Real Estate Market Outlook of Mississauga
You can enjoy a variety of construction styles in Mississauga like condominiums, townhouses & detached houses. Condominiums are the complex housing units in which each apartment is owned individually. Townhouses are the type of terraced houses.
The number of homes that are sold in the city totaled around 487 housing units in October 2022. This was a substantial decline of around 40.5 percent. Residential property sales were around 35 percent below the 5-year average & 38.4percent below the ten-year average for October.
On the basis of year-to-date, residential property sales totaled 5,302 units over the 1st eight months of the year. This was a sharp decline of 35 percent from the same period in 2021.
Real Estate Market Analysis for Mississauga Homes-October 2022
Let’s have a look at average housing prices of different construction styles during the month of October in 2022.
A two-bedroom detached house has an average sold price of $1.1M. This price was $1.2M about three months ago. Similarly detached homes with bedrooms are about $1.4M. This price was about $2.2M about three months ago. You can see a sharp decline in these housing prices.
Similarly, a two-bedroom townhouse has an average price during the month of October of $743K. This price was $698 about three months ago. Townhouses with 4 bedrooms have an average cost of $1.0M. This price was $1.1M about three months ago. This is also a good decline in the prices.
At last condominiums with one bedroom have an average price $565K. This price was $598K about three months ago. A condominium with three bedrooms has an average price of $702K & this price was $746K. There is also a significant decline in the real estate prices of these construction styles.
From the above real estate data, we can say that October is a good month to buy a house in Mississauga. You need not to live in a rented house, you can buy your own house in the city. The different houses that are recently available for sale in the area;
A three bedroom & three-bathroom home is available for sale at 5610 MONTEVIDEO Road unit # 32, Mississauga, Ontario. This house costs only $799,900. Similarly, another three bedroom and three-bathroom apartment are available for sale at # 29 333 MEADOWS BLVD Mississauga, Ontario. This home costs only $755,000. These were just a few examples. The city is full of such amazing houses.
