Housing Statistics For Brampton and Mississauga

Market Watch and Economic Indicators For Brampton and Mississauga

 Get To Know The Housng Market
 
When buying, selling or renting a home it is important that you are aware of housing statistical information for the neighborhood. Not knowing market statistics can cause you to pay more for a home than it's worth or sell your home for less.  Be informed!  Review housing stats below and conatct MyDaddyHomes  to help you Buy, Sell or rent a home or condo. We have been helping our clients with Real Esate Services since 1986. Contact us today!
 


Toronto Real Estate Board Summary Of Housing Activity 

 

GTA REALTORS® Release May 2022 Stats:

Greater Toronto Area (GTA) housing market conditions continued to evolve in response to higher borrowing costs. Similar to April results, May 2022 sales were down on a monthly and annual basis. Conversely, active listings at the end of May were up on a month-over-month and year-over-year basis. More balanced market conditions have provided buyers with more negotiating power. As a result, while benchmark and average home prices were up substantially compared to last year, selling prices trended lower on a month-over-month basis.

''Bank of Canada rate hikes, including the 50-basis point hike on June 1, are impacting home buyers in the short term. There is now a psychological aspect where potential buyers are waiting for a bottom in price. This will likely continue through the summer. However, as home buyers adjust to higher borrowing costs, housing demand will be supported by extremely low unemployment, high job vacancies, rising incomes and record immigration,'' said TREB President Kevin Crigger.

GTA REALTORS reported 7,283 sales through TRREB's MLS System in May 2022 - down 38.8 per cent compared to May 2021 and down nine per cent compared to April 2022. The number of new May listings was similar to last year's level and edged up on a month-over-month basis. With sales down and new listings trend flat to slightly up, the number of active listings was up on a year-over-year basis by 26 per cent.

Market conditions remained tight enough to support an overall average selling price of $1,212,806 for May 2022, representing an annual growth rate of 9.4 per cent. The MLS Home Price Index Composite Benchmark was also up on a year-over-year basis by 23.9 per cent. On a month-over-month basis, both price metrics were lower, reflecting more balanced market conditions.

''Price trends observed over the past three months - both in terms of moderating annual growth rates and the recent month-over-month dips - are in line with TRREB's forecast for 2022. After a strong start to the year, the current rate tightening cycle has changed market dynamics, with many potential home buyers putting their purchase on hold. This has led to more balance in the market, providing buyers with more negotiating power,'' said TREB Chief Market Analyst Jason Mercer.

2022 Brampton ad Mississauga Average and Median Housing Statistics:

 

Legend:

Avg DOM: Average days on the market before being sold

Summary By House Type:

Detached 

City

Average

Price

Median

Price

  

Avg.

DOM

Brampton

$1,652,000

$1,308,000

 

6

Mississauga

$1,964,000

$1,706,000

 

14

Semi-Detached  

City

Average

Price

Median

Price

 

Avg.

DOM

Brampton

$1,230.000

$1,250,000

 

4

Mississauga

$1,254,000

1,258,000

 

4

 Freehold Townhouse 

City

Average

Price

Median

Price

 

Avg.

DOM

Brampton

$1,129,000

$1,146,000

 

5

Mississauga

$1,212,000

$1,276,000

 

9

 Condo Townhouse 

City

Average

Price

Median

Price

 

Avg.

DOM

Brampton

$873,000

$860,000

 

6

Mississauga

$929,000

$959,000

 

8

Condo Apartment  

City

Average

Price

Median

Price

 

Avg.

DOM

Brampton

$622,000

$630,000

 

6

Mississauga

$696,000

$670,000

 

12


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