House price drops over $300,000 in Mississauga

A detached house in Mississauga’s Port Credit neighbourhood that sold for $2 million in November 2021 just sold for significantly less than its pandemic-era purchase price. 

According to a listing on HouseSigma that was subsequently highlighted on X by a real estate commentator, a detached house with five bedrooms (two below-grade), two bathrooms, and a garage sold for $1,650,000 this month after initially being listed for $1,799,900. 

📢 "West-End wipeout" 🌪️

📍Mississauga & Milton, ON 🇨🇦

The massive losses continue to roll in with two properties in West GTA sold a few days ago losing $532K and $350K respectively. 💸

One house, a Milton detached, was bought in 2022; the owner sunk $200K in renovations only… pic.twitter.com/4WV6b2hW9F

— Shazi (@ShaziGoalie) September 18, 2024

While the 97 Wanita Rd. house sold for quite a bit under asking–almost $150,000–the difference in sale price in just three years is significant. 

The house sold for $350,000 less than what it sold for about three years ago. 

Interestingly enough, the home was initially listed for $2,300,000 in October 2021, but was taken off the market and re-listed for $300,000 less later that same year. 

In 2022, the home was rented out for $3,100 a month. 

The listing calls the home a “rare gem.” It boasts a spacious yard with tall trees and a generously sized lot. It also features over 7,000 square feet of living space (including the basement), a sleek white interior, and a finished basement.