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Mississauga Real Estate Trends: 2018 Year in Review [Infographic]

REW (Real Estate Wire)
January 23, 2019

Mississauga Real Estate Trends 2018

Mississauga, the fast-growing, multicultural city that so many consider a Toronto suburb, is Canada’s sixth largest city.

It’s a fact! Mississauga, which has a population of more than 723,000, is home to more people than  Vancouver, Detroit, Denver, Washington, D.C. and Boston. It has 489 parks, three-city owned museums, six public art galleries, Canada’s first commercial vineyard, Canada’s largest fresh water marina and its residents speak more than 130 languages.

In 2018, REW’s data analysts found that Erindale was consumers’ most popular Mississauga neighbourhood, replacing Sheridan, the hotspot that had the highest average pageviews per listing in 2017.

Nestled along the Credit River, Erindale is an older community that offers a wide range of options, ranging from the multi-million mansions in the neighbourhood’s most prestigious locations to older, but more affordable ranch-style bungalows and 1970s-era, two-storey homes as well as a selection of townhomes and condo-type townhomes. As importantly, the University of Toronto-Mississauga campus is located in Erindale and commuters make good use of the Erindale GO station.

Sheridan, the most popular Mississauga neighbourhood in 2017, includes Sheridan Homelands, Sherwood Forest and the very exclusive Mississauga Road corridor. 

Rathwood, the neighbourhood of choice for families with children as well as seniors and baby boomers, demonstrated 14% growth year over year, based on the median list price increase. It’s known for its good schools and it’s a great spot to practice your Ukrainian, Polish, Croatian, Serbian or Portuguese.   

Buyers most commonly searched for three-bedroom homes, priced from $1 to $1.25 million, in 2018, with the median list price of a detached home at $969,0000, up 8% year over year from 2017. The average price per sq. ft. fell 8% year over year to $389 in 2018. In the past two years, the average days on REW remained the same at 35 for detached homes.

In 2018, the median list price for Mississauga condos was up 8% year over year to $425,000, while the average price per sq. ft. was $438, up 10% year over year. The average number of days on REW was 29 days in 2018, down from 31 in 2017.