Mississauga Housing Market Report

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Mississauga’s housing market reached dizzying heights in May 2021, before slumping 4% in June 2021. The frantic pace of home transactions peaked in March 2020, where there were over 1,400 home sales, compared to just over 1,000 home sales in June 2021. The number of home sales and the average home sold prices continue to trail the soaring values seen just a few months ago, as buyers in Mississauga's red-hot housing market take a breather to regather their bearings.

Mississauga's slowing housing market in June was also a tempering that was seen across the Greater Toronto Area's housing market: sales are down, and prices are down. However, the current cooling market is still scorching compared to prices last year. In one year, Mississauga average sold prices increased 14%, while the number of transactions increased a whopping 41%. Putting Mississauga's current home prices in comparison to numbers seen a year ago would make the current downturn just a blip in Mississauga's rapid housing price growth.

Detached homes in Mississauga saw the largest year-over-year price increase of 24%, ending at an average sold price of $1,524,060 for June 2021, yet detached homes lagged behind in transaction volume growth, with only a 28% increase in transactions year-over-year. On the flip side, semi-detached homes saw the largest year-over-year transaction growth, with a massive 72% increase in transactions, while average sold prices for Mississauga semi-detached homes only increased 15% year-over-year to $957,379.

Mississauga townhouse average sold prices played catch-up to semi-detached homes, closing in on a 16% year-over-year price increase to $928,159, with the smallest increase in transactions at a 16% transaction growth. Condo apartments saw the smallest price increase, at 6% year-over-year to $582,155, but was coupled with a large 67% increase in transactions, with total condo apartment transactions in Mississauga being more than all semi-detached and townhouse transactions combined.

Despite Mississauga's blazing hot housing market, there was another market that was even hotter: Brampton. Brampton's housing market saw its number of sales in June 2021 surpass Mississauga's number of sales, with 1,104 sales in Brampton compared to Mississauga's 1,044 home sales. With Brampton's average home sold price inching closer to Mississauga's the total dollar volume of Brampton transactions also eclipsed Mississauga's total dollar volume. However, this is driven in part due to Mississauga's lower proportion of detached homes compared to Brampton, which on average have higher selling prices.

Mississauga Housing Market Overview

Data for June 2021
Avg. Sold Price:$1,019,325
All Property Types:$1,019,325
Detached:$1,524,060
Semi-Detached:$957,379
Townhouse:$928,159
Condo Apartment:$582,155
Transactions (Buy/Sell):1,044
All Property Types:1,044
Detached:374
Semi-Detached:155
Townhouse:36
Condo Apartment:290

Home Prices in Mississauga

Single-Family Detached Home Prices in Mississauga

Statistics for June 2021
Average Price: $1,524,06024.0% from Jun. 2020
Units Sold: 37428.1% from Jun. 2020
New Listings: 523-1.5% from Jun. 2020

Semi-Detached Home Prices in Mississauga

Statistics for June 2021
Average Price: $957,37915.1% from Jun. 2020
Units Sold: 15572.2% from Jun. 2020
New Listings: 20218.1% from Jun. 2020

Townhouse Prices in Mississauga

Statistics for June 2021
Average Price: $928,15916.3% from Jun. 2020
Units Sold: 3616.1% from Jun. 2020
New Listings: 496.5% from Jun. 2020

Condo Prices in Mississauga

Statistics for June 2021
Average Price: $582,1555.9% from Jun. 2020
Units Sold: 29066.7% from Jun. 2020
New Listings: 4958.3% from Jun. 2020

Mississauga Housing Market Statistics for All Property Types

Data for June 2021
$1,019,325
Avg. Sold Price
-4%
Monthly change
-4%
Quarterly change
14%
Annual change
1,044
Transactions (Buy/Sell)
-3%
Monthly change
-26%
Quarterly change
41%
Annual change

Average Sold Price and MLS HPI Benchmark 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$1,089,536Vancouver$1,175,100Hamilton$787,758Montreal$514,868Ottawa$659,929Edmonton$398,229Calgary$494,111Winnipeg$369,310
$250k to $300k
$300k to $340k
$340k to $400k
$400k to $460k
$460k to $600k
$600k to $910k

Market Overview for Detached Homes

Data for June 2021
$1,524,060
Avg. Sold Price
-2%
Monthly change
-4%
Quarterly change
24%
Annual change
374
Transactions (Buy/Sell)
-9%
Monthly change
-29%
Quarterly change
28%
Annual change

Average Sold Price

Transactions

Market Overview for Semi-Detached Homes

Data for June 2021
$957,379
Avg. Sold Price
-2%
Monthly change
-5%
Quarterly change
15%
Annual change
155
Transactions (Buy/Sell)
-6%
Monthly change
-19%
Quarterly change
72%
Annual change

Average Sold Price

Transactions

Market Overview for Townhouses

Data for June 2021
$928,159
Avg. Sold Price
-2%
Monthly change
-3%
Quarterly change
16%
Annual change
36
Transactions (Buy/Sell)
-10%
Monthly change
-45%
Quarterly change
16%
Annual change

Average Sold Price

Transactions

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Market Overview for Condo Apartments

Data for June 2021
$582,155
Avg. Sold Price
0.91%
Monthly change
-0.42%
Quarterly change
6%
Annual change
290
Transactions (Buy/Sell)
14%
Monthly change
-26%
Quarterly change
67%
Annual change

Average Sold Price

Transactions

Mississauga Housing Market History from 1954 to 2021

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.