3-bedroom home sells for well under average price in Mississauga

A Mississauga three-bedroom home sold for well under the average price in the city — good news for buyers but not sellers.

The home at 3524 Croatia Dr., in the Fairview community, was valued at just over $1 million by online real estate site HouseSigma.

But the home sold for $925,000 this week, under the $999,999 list price. The sold price is representative of the current real estate market.

Real estate watcher, shazigoalie, posted about the home on social media, suggesting it could be a “stark warning in a falling market”.

A cooler market saw home prices drop 5.5 per cent in Mississauga from June 2024 to July 2024. The average price for all home types combined is $1,042,868. The detached home average price was $1,589,373 in July in Mississauga, the latest Toronto Regional Real Estate Board report states.

A recent report found 82 per cent of homes were selling for under the asking price in Mississauga, Oakville and the GTA.

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The Fairview home comes with large bedrooms, three bathrooms and a two-car garage.

There is also a finished basement with a bedroom and a modern, upgraded four-piece bathroom.

Real estate experts have suggested more interest rate cuts are needed to heat up the market.

Photos: Re/Max Realty Service Inc.