Brampton Housing Market Report

WOWA Trusted and Transparent
Market Report Summary for August 2022
Updated September 7th, 2022
  • The average Brampton home sold price is now at $1,018,639, down by 4% compared to last year.
  • Brampton’s average home sold price has plunged by 25% since the start of the year as the housing market cools.
  • Detached home's average price decreased by 10% year-over-year to $1.18M.
  • Semi-detached home's average price decreased by 1% year-over-year to $939k.
  • Freehold townhouse's average price remained the same year-over-year.
  • Condo townhouse's average price increased by 1% year-over-year to $705k.
  • Condo apartment's average price increased by 7% year-over-year to $567k.

Brampton Housing Market Overview

Data for September 2022
Avg. Sold Price:$1,007,324
All Property Types:$1,007,324
Detached:$1,178,736
Semi-Detached:$939,496
Freehold Townhouse:$887,637
Condo Townhouse:$705,336
Condo:$567,271
Transactions (Buy/Sell):405
All Property Types:405
Detached:201
Semi-Detached:80
Freehold Townhouse:57
Condo Townhouse:39
Condo:24
Best 5-Year Variable Mortgage Rates in Brampton
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CIBC
CIBC
5.14%
BMO
BMO
5.20%
TD
TD
5.20%
RBC
RBC
5.25%
Scotiabank
Scotiabank
5.65%
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Brampton’s housing market is now facing negative annual price growth as the average Brampton home price tumbles. This is the seventh consecutive month of monthly price declines since Brampton's housing market saw home prices peak in January 2022. For August 2022, the average home sold price in Brampton was $1,018,639 for a 4% year-over-year decrease.

Negative growth in home prices is an unfamiliar sight in the GTA housing market, especially after the recent relentless and seemingly unstoppable rise in home prices that saw all-time price records being broken. Brampton’s average home price has now fallen by over 25% since the January 2022 peak in home prices of $1,367,444. This means that the average home price in Brampton has fallen by close to $350,000 since the housing market peaked at the start of this year. However, while this month’s slump puts prices in Brampton’s housing market below what they were in August 2021, prices are still higher than July 2021 levels.

The neighbouring Mississauga housing market has been spared from negative price growth for now, with Mississauga home prices still up by 12% year-over-year. Mississauga had an average sold price of $1,077,092 for August 2022, which is notably higher than Brampton’s average sold price of $1,018,639. Earlier this year, Brampton home prices were higher than Mississauga home prices. That is no longer the case.

Looking at specific property types for August 2022, detached homes have been the worst-performing property type in Brampton. Brampton detached homes are the only property type to see a negative year-over-year change in its average sold price, at $1,188,060, which is down by 7% compared to last year. It’s also a -2% monthly change and down 28% year-to-date (YTD) compared to January 2022. This means that the average price of a detached home in Brampton has decreased by $464,000 since the start of this year!

The annual price gains of other property types also dwindled as they approached negative annual change territory in light of recent price declines. Semi-detached homes saw no change year-over-year and a 1% monthly decrease in average prices, while freehold townhouses had a 4% increase year-over-year and a 1% monthly decrease in average prices. Condo townhouses had a 4% increase in prices year-over-year and a 2% monthly increase.

Condo apartments in Brampton had the largest year-over-year price increase with an 8% annual gain in its average sold price and a slight 0.4% 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 10% YTD compared to the city’s average of -25%.

Looking at average sold prices for August 2022, the average sold price of a semi-detached home in Brampton was $933,130 (down 24% YTD), freehold townhouses at $883,579 (down 22% YTD), condo townhouses at $712,480 (down 18% YTD), and condo apartments at $559,274 (down 10% YTD).

With the breathtaking plunge in prices seen this year comes slowing sales activity. That’s largely due to demand drying up as borrowing costs skyrocket due to Bank of Canada rate hikes and higher mortgage rates.

Sales are down significantly in Brampton on an annual basis. Detached home sales are down 43% year-over-year (YOY), semi-detached sales are down 49% YOY, freehold townhouse sales are down 31% YOY, condo townhouse sales are down 50% YOY, and condo apartment sales are down 27% YOY. Overall, the 508 home sales in Brampton's housing market during the month of August 2022 represent a 42.5% decrease year-over-year. However, it’s also a 25% increase from last month.

There were 896 new listings in August 2022, which is down 6% from the 950 new listings in August 2021. Months of inventory in Brampton’s housing market is at 1.1 months, up from 0.6 months in August 2021. However, the 1,037 active listings at the end of August 2022 marked a substantial 139.5% year-over-year increase. Meanwhile, the average selling price of a home in Brampton was 3% under the average listing price as the average property days on market (PDOM) increased to 35 days, up from 15 days in August 2021 and up from 29 days last month.

Home Prices in Brampton

Single-Family Detached Home Prices in Brampton

Statistics for September 2022
Average Price: $1,178,736-10.1% from Sep. 2021
Units Sold: 201-53.5% from Sep. 2021
New Listings: 440-20.0% from Sep. 2021

Semi-Detached Home Prices in Brampton

Statistics for September 2022
Average Price: $939,496-1.3% from Sep. 2021
Units Sold: 80-46.7% from Sep. 2021
New Listings: 110-34.5% from Sep. 2021

Freehold Townhouse Prices in Brampton

Statistics for September 2022
Average Price: $887,637-0.4% from Sep. 2021
Units Sold: 57-56.8% from Sep. 2021
New Listings: 104-18.1% from Sep. 2021

Condo Prices in Brampton

Statistics for September 2022
Average Price: $567,2716.9% from Sep. 2021
Units Sold: 24-56.4% from Sep. 2021
New Listings: 8917.1% from Sep. 2021

Brampton Housing Market Statistics for All Property Types

Data for August 2022
$1,007,324
Avg. Sold Price
-1%
Monthly change
-5%
Quarterly change
-6%
Annual change
405
Transactions (Buy/Sell)
-20%
Monthly change
-22%
Quarterly change
-53%
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
ONQCMBSKABBCToronto$1,079,500Vancouver$1,195,428Hamilton$792,767Montreal$564,683Ottawa$635,585Edmonton$371,599Calgary$485,000Winnipeg$346,500
$271k to $305k
$305k to $344k
$344k to $389k
$389k to $424k
$424k to $639k
$639k to $918k

Market Overview for Detached Homes

Data for August 2022
$1,178,736
Avg. Sold Price
-0.78%
Monthly change
-5%
Quarterly change
-10%
Annual change
201
Transactions (Buy/Sell)
-24%
Monthly change
-26%
Quarterly change
-53%
Annual change

Average Sold Price

Transactions


Market Overview for Semi-Detached Homes

Data for August 2022
$939,496
Avg. Sold Price
0.68%
Monthly change
-5%
Quarterly change
-1%
Annual change
80
Transactions (Buy/Sell)
-18%
Monthly change
-14%
Quarterly change
-47%
Annual change

Average Sold Price

Transactions


Market Overview for Townhouses

Data for August 2022
$887,637
Avg. Sold Price
0.46%
Monthly change
-1%
Quarterly change
-0.44%
Annual change
57
Transactions (Buy/Sell)
-24%
Monthly change
-22%
Quarterly change
-57%
Annual change

Average Sold Price

Transactions

Market Overview for Condo Apartments

Data for August 2022
$567,271
Avg. Sold Price
1%
Monthly change
-4%
Quarterly change
7%
Annual change
24
Transactions (Buy/Sell)
-25%
Monthly change
-20%
Quarterly change
-56%
Annual change

Average Sold Price

Transactions

Greater Toronto Area (GTA) Breakdown by Region

Data for August 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.