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.

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.