Mississauga Real Estate market update January 2021. According to Royal LePage, housing demand exceeded expectations in the second half of 2020. The supply of homes available for sale failed to keep pace, driving home prices higher and pushing unmet buyer demand into the new year. Scott Brubacher Broker here with the Mississauga House Price Report January 2021.

Further the Toronto Real Estate Board, reported several consecutive months of record sales volume in the later half of the year. Resulting in a record for the average selling price of $930,000. Up by 13.5 per cent compared to 2019. Albeit an uncertain year due to COVID-19 the housing market rebounded and continues a fast pace into 2021. In particular regions just outside the GTA are into hot sales of single family detached homes. So hopeful home buyers were not able to find the home they were looking for.

Hopeful home buyers were not able to find the home they were looking for

Meanwhile here in Mississauga, detached and low rise homes have remained in short supply. At the same time mighty buyer demand has fueled multiple offer situations and escalating home prices. Some of the factors include, ultra low lending rates, first time buyers and downsizers competing for the same home styles. Also migration to Ontario from other provinces like Alberta. . Brisk sales are reported in Niagara, Waterloo, Simcoe, south Georgian Bay, Muskoka. Also area’s to the East such as Kingston, Picton and Ottawa Regions. In Mississauga, Condo Apartments have lagged behind in popularity. By and large COVID-19 related travel restrictions have meant less demand for short term rentals and student housing.

Mississauga House Prices reported in January 2021

Avg. house price Mississauga Toronto Milton
(All home types) $878276 $ 1,025,925 $ 916,717

All House Types in Mississauga Average Prices

 Detached $ 1,239,382
 Semi-Detached $ 848,990
 Condo TH $ 664,274
 Condo Apt $ 536,435
 Link $ 850,000
 Freehold TH $ 826,143
 Total Average $ 878,276

In conclusion as we move through the early stages of 2021, the Mississauga Real Estate Market is hot hot hot. Royal LePage predicts a 5.5% price increase across the Canadian market in 2021. Further we’ll see record immigration into Canada over the next three years. Combined with over 800,000 international students reappearing for the next school year. The demand for housing will remain high and buyers will continue to compete for housing through out the 2021.

Thanks, we are here to help! Call me. –Scott
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Scott Brubacher Broker – Royal LePage Meadowtowne Realty Brokerage

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