Mississauga real estate market update

House prices rose by 31% in the last year

 

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Relative to the Greater Toronto Area, homebuyers are still finding good value in Mississauga. According to a new report by Re/Max, buyers looking to move into a larger home are driving a lot of the demand, although foreign buyers and investors still have a strong presence in the condo market.

While condo prices have surged 28% over the past year, the average unit still sells for less than $500,000. Re/Max suggests a new condo developments around Square One, a major shopping centre in the city, will add to inventory and temper price appreciation in that segment of the market.

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