Mississauga

established 1805

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DISCOVER

About Mississauga

Formed in 1974, Mississauga is now recognized as Canada’s 6th largest and fastest growing major city with a population of 729,000 residents representing cultures from around the world. Home to Canada’s largest airport, Toronto Pearson International, Mississauga is considered Canada’s gateway.

Mississauga has more than 480 parks and 23 major trail systems including part of a 485 mile (780 km) waterfront trail running from Niagara-on-the-Lake to the Quebec border.

Mississauga offers family-oriented sports, leisure and arts facilities with 11 community centres and a vibrant downtown city centre with major retail, office, entertainment and condo living.

market update
market update

Comparative Analysis

  2022 Y/Y M/M
Sales 207 23.2% -7.2%
New Listings 567 154.3% -13.7%
Average Sale Price $1,605,497 7.7% -4.4%
Median Sale Price $1,425,000 6.3% -6.3%
SNLR* 36.5% -38.8% 2.6%

Source: TRREB Market Watch Report – Summary of Existing Home Transactions (Detached)

*SNLR (Sales-to-New-Listings-Ratio)

  • SNLR at 55% or more indicates a seller’s market; more buyers than properties for sale
  • SNLR between 34% and 54% indicates a balanced market; about the same number of properties for sale as there are buyers
  • SNLR at 35% or less indicates a buyer’s market; more properties for sale than there are buyers
mississauga
mississauga

June 2022

Higher borrowing costs continued to impact home sales in June 2022. The Toronto Regional Real Estate Board (TRREB) has released its latest market stats, which show a 41 percent decline in sales compared to last year across all housing types. The average selling price, at $1,146,254, remained 5.3 per cent above the June 2021 level, but continued to trend lower on a monthly basis. Month-over-month the average selling price dipped by 5.5 per cent.

While the number of transactions was down year-over-year, the number of new listings was up in most of our service areas. This has provided for an even greater shift into a buyer’s market, resulting in a more moderate annual pace of price growth.

“Our region continues to grow because we attract people and businesses from all around the world. All of these people will require a place to live, whether they choose to buy or rent. Despite the shorter-term impact of higher borrowing costs, housing demand will remain strong over the long-term, as long as we can produce homes within which people can live. Policy makers at all levels need to make this their key goal,” said TRREB CEO John DiMichele.

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