Brampton Housing Market Report

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Market Report Summary for May 2022
Updated June 13th, 2022
  • After four consecutive months of monthly price decreases, the average Brampton home sold price is now at $1,146,449, up 15% compared to last year.
  • Sales are down significantly in Brampton on an annual basis, while new listings are also down year-over-year.
  • Detached home prices increased by 14% year-over-year to $1.36M.
  • Semi-detached home prices increased by 16% year-over-year to $1.03M.
  • Freehold townhouse prices increased by 20% year-over-year to $977k.
  • Condo townhouse prices increased by 22% year-over-year to $805k.
  • Condo apartment prices increased by 22% year-over-year to $616k.

Brampton Housing Market Overview

Data for May 2022
Avg. Sold Price:$1,146,449
All Property Types:$1,146,449
Detached:$1,355,220
Semi-Detached:$1,028,194
Freehold Townhouse:$976,987
Condo Townhouse:$805,414
Condo:$616,010
Transactions (Buy/Sell):670
All Property Types:670
Detached:350
Semi-Detached:117
Freehold Townhouse:98
Condo Townhouse:58
Condo:43
Best 5-Year Variable Mortgage Rates in Brampton
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BMO
BMO
3.20%
CIBC
CIBC
3.24%
TD
TD
3.30%
RBC
RBC
3.35%
Scotiabank
Scotiabank
3.90%
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After breaking all-time price records for six months in a row between August 2021 and January 2022, Brampton’s housing market has since retreated with its fourth consecutive month of monthly price declines. The average home sold price in Brampton for May 2022 was $1,146,449 for a 15% year-over-year increase. However, it’s a far cry from the $1,367,444 average sold price seen at the start of the year in January 2022. This means that home prices in Brampton have fallen by over 16% since the housing market peaked in January 2022. The neighbouring Mississauga housing market had an average sold price of $1.15 million for May 2022.

Looking at specific property types for May 2022, detached homes had the lowest year-over-year price growth, increasing just 14% compared to last year. The average sold price of a detached home in Brampton is now $1,355,220, down 8% compared to last month and down 18% year-to-date (YTD) compared to January 2022. This means that the average price of a detached home in Brampton has decreased by $296,868 since the start of this year.

The annual price gains of other property types also remained modest in light of recent price declines. Semi-detached homes had a 15.5% year-over-year increase and an 8% monthly decrease in average prices, while condo townhouses had a 21.5% increase year-over-year and a 3% monthly decrease in average prices. Freehold townhouses had a 19.5% increase in prices year-over-year and a 3% monthly decrease. Condo apartments in Brampton had the largest year-over-year price increase with a 22% annual gain in its average sold price and a 6.5% monthly decrease. Condos apartments were also the best performing property type year-to-date, with the average sold price of a condo in Brampton being down just 1% YTD.

Looking at average sold prices for the month of May 2022, the average sold price of a semi-detached home in Brampton was $1,028,194, freehold townhouses at $976,987, condo townhouses at $805,414, and condo apartments at $616,010.

Sales are down significantly in Brampton on an annual basis. Detached home sales are down 43.5% year-over-year (YOY), semi-detached sales are down 49% YOY, freehold townhouse sales are down 41% YOY, condo townhouse sales are down 39% YOY, and condo apartment sales are down 28% YOY. Overall, the 670 home sales in Brampton's housing market during the month of May 2022 represent a 43% decrease year-over-year.

There were 1,646 new listings in May 2022, which is down 9% from the 1,808 new listings in May 2021. Months of inventory in Brampton’s housing market has also shrunk to just 0.7 months, one of the lowest in the GTA housing market. However, the 1,268 active listings at the end of May 2022 marked a substantial 33% year-over-year increase. Meanwhile, the average selling price of a home in Brampton was 2% over the average listing price as the average days on market increased to 12 days, up from 10 days in May 2021.

Home Prices in Brampton

Single-Family Detached Home Prices in

Statistics for May 2022
Average Price: $1,355,22014.3% from May. 2021
Units Sold: 350-43.5% from May. 2021
New Listings: 871-15.5% from May. 2021

Semi-Detached Home Prices in

Statistics for May 2022
Average Price: $1,028,19415.5% from May. 2021
Units Sold: 117-49.1% from May. 2021
New Listings: 296-3.0% from May. 2021

Townhouse Prices in

Statistics for May 2022
Average Price: $976,98719.5% from May. 2021
Units Sold: 98-40.6% from May. 2021
New Listings: 237-0.8% from May. 2021

Condo Prices in

Statistics for May 2022
Average Price: $616,01022.1% from May. 2021
Units Sold: 43-28.3% from May. 2021
New Listings: 11022.2% from May. 2021

Brampton Housing Market Statistics for All Property Types

Data for May 2022
$1,146,449
Avg. Sold Price
-8%
Monthly change
-15%
Quarterly change
15%
Annual change
670
Transactions (Buy/Sell)
-6%
Monthly change
-27%
Quarterly change
-43%
Annual change

Average Sold Price

Total Transactions

Property Type Distribution

Detached
Semi-Detached
Townhouses
Condo Apartments

Free Home Value Estimator

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Housing Markets Across Canada

Interactive Map - Hover Over Province for Details
ONQCMBSKABBCYTNTToronto$1,261,800Vancouver$1,261,100Hamilton$986,400Montreal$555,600Ottawa$712,600Edmonton$409,800Calgary$532,200Winnipeg$369,600
$270k to $320k
$320k to $380k
$380k to $450k
$450k to $490k
$490k to $620k
$620k to $990k

Market Overview for Detached Homes

Data for May 2022
$1,355,220
Avg. Sold Price
-8%
Monthly change
-16%
Quarterly change
14%
Annual change
350
Transactions (Buy/Sell)
-5%
Monthly change
-24%
Quarterly change
-43%
Annual change

Average Sold Price

Transactions


Market Overview for Semi-Detached Homes

Data for May 2022
$1,028,194
Avg. Sold Price
-8%
Monthly change
-19%
Quarterly change
16%
Annual change
117
Transactions (Buy/Sell)
-25%
Monthly change
-30%
Quarterly change
-49%
Annual change

Average Sold Price

Transactions


Market Overview for Townhouses

Data for May 2022
$976,987
Avg. Sold Price
-3%
Monthly change
-17%
Quarterly change
20%
Annual change
98
Transactions (Buy/Sell)
N/A %
Monthly change
-25%
Quarterly change
-41%
Annual change

Average Sold Price

Transactions

Market Overview for Condo Apartments

Data for May 2022
$616,010
Avg. Sold Price
-6%
Monthly change
-11%
Quarterly change
22%
Annual change
43
Transactions (Buy/Sell)
23%
Monthly change
-45%
Quarterly change
-28%
Annual change

Average Sold Price

Transactions

Greater Toronto Area (GTA) Breakdown by Region

Data for May 2022

Glossary and Definitions

MLS® HPI: The MLS® Home Price Index (HPI) is an index by the Canadian Real Estate Association (CREA) that tracks the prices of homes in a neighborhood. It allows Canadians to quickly compare home prices across Canada and between periods of time without having to account for specific features of a property. Unlike market prices, which can fluctuate from month to month based on seasonal dynamics, the HPI provides a stable view tracks trends across a longer period of time. The HPI is reviewed every year in May to adjust for changes in the real estate marketplace.

MLS® HPI Benchmark Price: The MLS® Home Price Index (HPI) Benchmark Price is the HPI translated into a real-world price number.

Strata Insurance: Strata insurance is insurance used by a strata like a condominium to covers damages to common areas and assets and liability to the strata. It can also include fixtures built or installed as part of the original construction of each unit, even though these may not be common structures. The insurance can cover:

  • Buildings and structures associated with the strata including common areas such as the roof, parking garages, driveways, gyms, pools, etc.
  • Liability for any property damage or bodily injury suffered on strata property
  • Any fixtures that are part of the "standard unit" or original construction of each unit

Strata insurance does not usually include personal items and appliances that are part of a condo unit. It also does not cover the damages made by individual unit owners, such as in the case of water damage caused by a unit owner. These are usually covered by personal condo insurance.

Property types

Detached home: A detached home is your standard single-family home. It is a residential building that stands alone and is separately titled or legally a single unit.

Semi-detached home: A semi-detached home is similar to a detached home, except it shares a wall with another home. This pair of homes must make up an independent building and each should be separately titled or legally two separate units. There can only be two homes in a semi-detached building.

Townhouses: A townhouse is the middle between a detached/semi-detached home and a condo apartment. Like detached and semi-detached homes, they are often single-family units that have their own land and may be attached to other units. However, like condo apartments, they typically have to pay co-ownership fees for maintenance and may share some common features with their neighbors.

Condo apartment: This category includes all apartments and condominiums. These are complexes of residential units with common areas such as hallways, parking lots, stairwells, etc. They can be low-rise, mid-rise, or high-rise buildings. Unlike townhouses, there are no parts of the lot (the land of the building) where access is reserved for only one owner or occupant. There can be privately owned units and spaces inside the building.

Plexes are multi-story buildings with two to four individual units, usually one on each floor. They are a mainstay in Montreal and other cities in Quebec. Each unit is usually individually accessible via an external entrance with higher floors connected by staircases.

Property Classes

Freeholds: A freehold is any property where the owner owns both the house and the land it is built on. Common freehold property types include: detached, semi-detached, some townhouses, and farmland.

Condominiums: A condominium or condo is any property where the owner owns the home (or unit) but shares ownership of the land and other improvements with a condominium corporation. Common condominium property types include condo apartments and some townhouses.

Housing Markets Across Canada

Data sourced from the Toronto Regional Real Estate Board (TRREB) and the Canadian Real Estate Association (CREA). Any analysis or commentary is the opinion of the analysts at WOWA.ca and should not be construed as investment advice. Please consult a licensed real estate professional before making a real estate investment decision. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.