Brampton Housing Market Report

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Market Report Summary for December 2022
Updated January 6th, 2023
  • The average Brampton home sold price is now at $981,920, down by 19% compared to last year.
  • This is the eleventh month in a row that Brampton’s average home price has declined on a monthly basis and is close to a two-year low.
  • Detached home average price decreased by 21.6% year-over-year to $1.14M.
  • Semi-detached home average price decreased by 19.7% year-over-year to $899k.
  • Freehold townhouse average price decreased by 15.5% year-over-year to $857k.
  • Condo townhouse average price decreased by 15.4% year-over-year to $679k.
  • Condo apartment average price decreased by 13.7% year-over-year to $505k.

Brampton Housing Market Overview

Data for December 2022
Avg. Sold Price:$981,920
All Property Types:$981,920
Detached:$1,142,193
Semi-Detached:$899,291
Freehold Townhouse:$857,106
Condo Townhouse:$678,641
Condo:$504,930
Transactions (Buy/Sell):268
All Property Types:268
Detached:144
Semi-Detached:53
Freehold Townhouse:33
Condo Townhouse:16
Condo:20
Best 5-Year Fixed Mortgage Rates in Brampton
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BMOBMO
5.14%
TDTD
5.44%
CIBCCIBC
5.49%
RBCRBC
5.69%
ScotiabankScotiabank
6.34%
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Home prices in Brampton’s housing market continue to fall, hitting an almost two-year low, as the effects of higher interest rates continue to work their way through the real estate market. With an average home sold price of $981,920 during the month of December 2022, down a staggering 19% in one year compared to December 2021, Brampton homeowners have been hit particularly hard compared to other cities in the Greater Toronto Area (GTA) housing market.

Home sales activity in Brampton is also slowing down as homebuyers wait on the sidelines, despite ballooning active listings. The 268 home sales in Brampton's housing market in December 2022 represent a 58% decrease compared to last year. Meanwhile, new listings are down 32% year-over-year, and active listings have skyrocketed by 533%.

A surplus of homes for sale can be seen in Brampton, with months of inventory increasing by 183% compared to December 2021, and the average time that a home is listed almost tripling year-over-year. In December 2021, the average listing days on market (LDOM) of a Brampton home was just 7 days. That has ballooned to 24 days in December 2022. Similarly, average property days on market (PDOM) has quadrupled from 9 days in December 2021 to 36 days in December 2022.

Slowing demand in Brampton’s housing market, resulting from high mortgage rates in light of recent Bank of Canada rate hikes, has had a noticeably less severe impact on Brampton condo prices relative to other property types. In December 2022, Brampton's average detached home price was $1,142,193, down 22% year-over-year, which is also a 5% decrease in just one month. Semi-detached homes saw an equally significant decline in prices, with the average semi-detached home price falling 20% year-over-year to $899,291.

Freehold townhouse prices are down 15.5% year-over-year to $857,106, condo townhouse prices are down 15% year-over-year to $678,641, and condo prices are down 14% year-over-year to $504,930. Detached and semi-detached homes have seen an outsized decrease in prices over the past year compared to condo prices. This could stem from the naturally lower price points of condos in Brampton, making it a more affordable option for homebuyers.

Brampton’s not the only housing market in Canada to see some pretty significant declines in prices, but the dramatic rise in Brampton home prices in early 2022 and the following collapse in prices is notable. The neighbouring Mississauga housing market, with an average home price of $977,016, has seen an annual change in prices of just -11% compared to Brampton’s -19% annual change. Meanwhile, home prices in the City of Toronto are down by just 0.5% year-over-year to $1,017,989 for December 2022.

Home Prices in Brampton

Single-Family Detached Home Prices in Brampton

Statistics for December 2022
Average Price: $1,142,193-21.6% from Dec. 2021
Units Sold: 144-55.8% from Dec. 2021
New Listings: 220-28.6% from Dec. 2021

Semi-Detached Home Prices in Brampton

Statistics for December 2022
Average Price: $899,291-19.7% from Dec. 2021
Units Sold: 53-58.6% from Dec. 2021
New Listings: 74-42.2% from Dec. 2021

Freehold Townhouse Prices in Brampton

Statistics for December 2022
Average Price: $857,106-15.5% from Dec. 2021
Units Sold: 33-56.6% from Dec. 2021
New Listings: 48-36.8% from Dec. 2021

Condo Prices in Brampton

Statistics for December 2022
Average Price: $504,930-13.7% from Dec. 2021
Units Sold: 20-50.0% from Dec. 2021
New Listings: 4037.9% from Dec. 2021

Brampton Housing Market Statistics for All Property Types

Data for December 2022
$981,920
Avg. Sold Price
-2%
Monthly change
-3%
Quarterly change
-19%
Annual change
268
Transactions (Buy/Sell)
-5%
Monthly change
-34%
Quarterly change
-58%
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
ONQCMBSKABBCNBNSNLPEToronto$1,051,216Vancouver$1,182,935Hamilton$750,601Montreal$549,057Ottawa$606,227Edmonton$361,172Calgary$495,231Winnipeg$351,866London$612,770
$264k to $290k
$290k to $325k
$325k to $363k
$363k to $434k
$434k to $689k
$689k to $912k

Market Overview for Detached Homes

Data for December 2022
$1,142,193
Avg. Sold Price
-5%
Monthly change
-3%
Quarterly change
-22%
Annual change
144
Transactions (Buy/Sell)
1%
Monthly change
-28%
Quarterly change
-56%
Annual change

Average Sold Price

Transactions


Market Overview for Semi-Detached Homes

Data for December 2022
$899,291
Avg. Sold Price
-2%
Monthly change
-4%
Quarterly change
-20%
Annual change
53
Transactions (Buy/Sell)
2%
Monthly change
-34%
Quarterly change
-59%
Annual change

Average Sold Price

Transactions


Market Overview for Townhouses

Data for December 2022
$857,106
Avg. Sold Price
-2%
Monthly change
-3%
Quarterly change
-15%
Annual change
33
Transactions (Buy/Sell)
-13%
Monthly change
-42%
Quarterly change
-57%
Annual change

Average Sold Price

Transactions

Market Overview for Condo Apartments

Data for December 2022
$504,930
Avg. Sold Price
-5%
Monthly change
-11%
Quarterly change
-14%
Annual change
20
Transactions (Buy/Sell)
0%
Monthly change
-17%
Quarterly change
-50%
Annual change

Average Sold Price

Transactions

Greater Toronto Area (GTA) Breakdown by Region

Data for December 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.

Leasehold: Leasehold describes the situation where different entities own the land and the structure built on the land. Owner of the buildings has leased the land and pay rent to their landlord while owning the building on the land.

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.