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Brampton Housing Market Report

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Market Report Summary for January 2024
Updated February 7th, 2024
  • The average Brampton home sold price is now at $982,514 down by 1.9% compared to last year.
  • Brampton’s benchmark home price in January 2024 was $999,200, up 0.4% year-over-year.
  • While home sales have bounced back from last year’s particularly slow January, average home prices continue to lag behind.
  • Detached home average price decreased by 2.9% year-over-year to $1.16M.
  • Semi-detached home average price decreased by 1.2% year-over-year to $905k.
  • Freehold townhouse average price increased by 0.7% year-over-year to $871k.
  • Condo townhouse average price decreased by 1.2% year-over-year to $662k.
  • Condo apartment average price decreased by 6.7% year-over-year to $536k.
  • February 24, 2024 Update: Today’s Lowest mortgage rates in Brampton is 4.69% for 5-Year Fixed

Brampton Housing Market Overview

Data for January 2024
Avg. Sold Price:$982,514
All Property Types:$982,514
Detached:$1,157,763
Semi-Detached:$905,317
Freehold Townhouse:$870,521
Condo Townhouse:$662,330
Condo:$535,608
Transactions (Buy/Sell):395
All Property Types:395
Detached:195
Semi-Detached:70
Freehold Townhouse:73
Condo Townhouse:30
Condo:24
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Brampton Market Condition
Seller's Market
This Month’s SNLR: 62%
An SNLR above 60% indicates a market that favour sellers.

The average home price in Brampton’s housing market remained below the $1 million mark once again in January 2024 after briefly surfacing above a few months back in November 2023. For January 2024, the average Brampton home price was $982,514, down 1.9% year-over-year and down 0.5% from last month. That’s quite a difference from the neighbouring Mississauga housing market, which has instead seen prices soar 10% compared to last month and up 14% year-over-year.

Sales Statistics

There were a total of 395 residential sales in the city in January 2024. This represents an increase of 38% compared to the same period last year. The average sale price for all types of properties was $982,514, which is lower than Mississauga's average home price of $1,048,658. Last month, in December 2023, Brampton had a higher average home price than Mississauga. This highlights the strong uptick in home prices that Mississauga has seen in the past month, which is something that Brampton is not enjoying. However, Brampton’s benchmark home price of $999,200 is a 0.4% increase year-over-year, in contrast to Mississauga’s benchmark home price retreating 0.03% year-over-year.

Detached Homes

Detached homes in Brampton continue to be the most popular type of property, with 195 detached homes sold last month. The average sale price for a detached home was $1,157,763, showing a decrease of 2.9% year-over-year.

wahi map

Semi-Detached Homes

Semi-detached homes in Brampton saw a steady market, with 70 homes sold last month, a 56% increase year-over-year. However, the average sale price declined 1.2% year-over-year to $905,317.

Freehold Townhomes

The freehold townhome market in Brampton saw a large increase in activity with 73 units sold last month, which is up by 33% year-over-year. Townhouses were the only property type to see an increase in prices annually, with the average sale price for freehold townhomes increasing 0.7% year-over-year to $870,521.

Condominiums

Condos sales in Brampton are not quite as numerous as other property types, with 24 units sold last month, representing an increase of 14% from the previous year. The average sale price for a condo was $535,608, showing a more significant decrease of 7% compared to the same month last year. On a monthly basis, the average Brampton condo price is down 4.8%.

Market Conditions

New listings in Brampton’s housing market numbered 634, an increase from the 352 new listings last month in December’s typically slow market. When compared to Brampton’s 395 sales in January 2024, this brings about a sales-to-new-listings ratio (SNLR) of 62%, signalling a market that is in favour of sellers. That’s higher than the GTA’s 51% SNLR and Mississauga’s 56% SNLR.

Home Prices in Brampton

Brampton Housing Market Statistics for All Property Types

Data for January 2024

Average Sold Price

Total Transactions

Property Type Distribution

Detached
Semi-Detached
Townhouses
Condo Apartments
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Housing Markets Across Canada

Data for December 2023

Market Overview for Detached Homes

Data for January 2024

Average Sold Price

Transactions


Market Overview for Semi-Detached Homes

Data for January 2024

Average Sold Price

Transactions


Market Overview for Townhouses

Data for January 2024

Average Sold Price

Transactions

Market Overview for Condo Apartments

Data for January 2024

Average Sold Price

Transactions

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Greater Toronto Area (GTA) Breakdown by Region

Data for January 2024

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.