Good news for those who’ve bought a condo in Mississauga over the past year – the most recent data from the Toronto Real Estate Board reveals the price of an average unit rose 8.3% to $430,220 in November, from the same time period in 2017.
And, despite overall slower market conditions throughout the GTA, demand for condos for sale in Mississauga remains brisk, with 181 units exchanging hands – accounting for 31% of all home sales activity – over the course of the month. In fact, the sales-to-new-listings ratio for condos in the city clocks in at 72%, which indicates a steep sellers’ market.
Units Still Comparatively Affordable
Mississauga has remained a hot real estate destination for its vibrant neighbourhoods, business centre, and convenient proximity to Toronto’s downtown core, easily accessible via regional GO Transit service. Mississauga real estate also continues to be comparably more affordable, compared to the $596,678 it costs to purchase the average Toronto unit, yet still provide an impressive return on investment.
Related Read: The Most Affordable Places to Buy a Home Along the GO Transit Line
According to new data, the majority of those who purchased a unit within one of the city’s priciest buildings have seen returns ranging from 7 – 20%. To determine which buildings were the most expensive, Zoocasa.com compiled sales data from over 100 buildings to identify which had the highest price per square foot, as well as its year-over-year increases.
Mississauga’s Most Expensive Condos
Check out the infographic below to see which Mississauga condos command the most per square foot, and how values have appreciated from 2017.
METHODOLOGY
Zoocasa reviewed over 100 condo buildings in Mississauga to identify the buildings with the highest estimated price per square foot, based on sold prices in 2018 year-to-date (January to November). Only buildings with at least 10 transactions in 2018 were included. Sold prices of individual listings were sourced from the Toronto Real Estate Board. All calculations are by Zoocasa.
ABOUT ZOOCASA
Zoocasa.com is a real estate company that combines online search tools and a full-service brokerage to empower Canadians to buy or sell their homes faster, easier and more successfully. Home buyers can browse real estate listings on the website or the free Zoocasa real estate iOS app.
For more information about the study or to set up a media interview please email communications@zoocasa.com.
