Mississauga House Price Report February 2024 – Out of the gate, the housing market in Mississauga has seen a vibrant start to the year, with a notable surge in activity for January 2024. Similarly the Greater Toronto Area (GTA) has experienced a significant increase in home sales, with a 37% rise compared to the same period last year, accompanied by a 6% increase in new listings. This disparity between sales growth and new listings suggests potential for price appreciation in 2024, as highlighted in the Toronto Real Estate Board’s February Market Watch Report. Additionally, buyers are showing a preference for freehold properties over condominiums.
Throughout 2023, Mississauga’s home prices reached their peak during the summer but concluded the year on a stable note, as illustrated in the accompanying chart.
Mississauga Home Price Index 2023 – all home types
In the Royal LePage House Trends Report for 2024, Phil Soper, CEO of Royal LePage Canada, forecasts a 6% rise in home prices across the GTA by the end of the year. A pivotal indicator of the housing market’s vitality is the number of showings, which experienced a significant increase in January 2024. This surge suggests a renewed interest from buyers, re-entering the market even ahead of anticipated interest rate reductions by the Bank of Canada in the latter half of 2024.
A pivotal indicator of the housing market’s vitality is the number of showings and they are way up in January 2024!
Mississauga and area homes sales January 1st – 23rd 2024 vs the same period in 2023.
Mississauga
Showings: Up 70% ↑
Freehold New Listings: No change
Freehold # of Sales: Up 63% ↑
Condo New Listings: No change +/-
Condo # of Sales: Up 13% ↑
Halton Hills
Showings: Up 48% ↑
Freehold New Listings: 30% Lower
Freehold # of Sales: Up 37% ↑
Condo New Listings: No change +/-
Condo # of Sales: No change +/-
Erin
Showings: No data
Freehold New Listings: 42% Lower
Freehold # of Sales: Up 20% ↑
Condo New Listings: No change +/-
Condo # of Sales: No change +/-
Milton
Showings: Up 89% ↑
Freehold New Listings: Up 5% ↑
Freehold # of Sales: Up 88% ↑
Condo New Listings: Up 128% ↑
Condo # of Sales: No change +/-
Brampton
Showings: Up 62% ↑
Freehold New Listings: 4% Lower
Freehold # of Sales: Up 49% ↑
Condo New Listings: Up 13% ↑
Condo # of Sales: Up 90% ↑
Months of Inventory ~ Opportunities
Sellers Markets (FREEHOLD Only – Condo’s Buyers Market)
- Brampton
- Burlington
- Milton
- Mississauga
- Oakville
- Toronto East
Buyers Markets
- Hamilton
- Milton
- Mississauga
- Niagara – Condo & Freehold
- Oakville
- Toronto Centre – Condo & Freehold
Mississauga House Price Report February 2024
Scott Brubacher Broker, Royal LePage Meadowtowne Realty Brokerage – 6948 Financial Drive Mississauga
Boomers Navigating Change: Strategies for smart-sizing in a volatile real estate market
Boomers, it’s time to act on your smart-sizing plans! You’re invited to my FREE and in-person Boomers on the Move workshop, February 24th from 12:30pm-3:00pm at the Royal LePage Meadowtowne Realty Cafe – 6948 Financial Drive Mississauga – 647-223-0237
This carefully crafted workshop aims to assist Baby Boomers in their journey toward retirement. Our focus is on providing a comfortable, pressure-free environment where participants can receive personalized information and seek clarification on their unique questions. We offer insightful answers and various solutions while fostering a sense of community and education.
Remember to reserve your spot here: <Save my Seat>