5 homes that recently sold for under the asking price in Mississauga

The days of bidding wars and skyrocketing home prices appear to be over for the time being.

The real estate market in Mississauga has been showing signs of cooling off for several months. And with rising interest rates experts believe it will be a challenging year ahead.

Traditionally, December and January aren’t big months for real estate as people are busy around the holidays.

However, in the last few weeks several homes have sold for well under the asking price.

Here are five homes sold for under-asking in Mississauga recently:

943 North Service Rd.

This brick bungalow has three bedrooms with a huge backyard. The home was well-maintained by the same owner for more than 60 years. It could use some updating — the original hardwood floor under the carpeting could be restored. But it is in a good location, the Applewood Village area, with nearby shops and restaurants.

This home was listed for $999,000 and sold on Dec. 16 for well under asking at $875,000.

7407 Glamorgan Way

This three-bedroom home backs onto a ravine near walking trails and the Credit River. It has hardwood floors throughout and a large primary bedroom with a four-piece ensuite bathroom. The backyard is large enough for a swimming pool.

It’s also close to schools, a golf course and shopping.

Originally listed for $1,799,900 in June 2022, the price was reduced to $1,459,000 and sold for $1,310,000 on Dec. 6.

4184 Brandon Gate Dr.

This three-bedroom home in Malton underwent renovations to the interior, including a modern, new kitchen. It also has a three-bedroom legal basement apartment with a separate side entrance.

It sold more quickly than other homes on the market recently. Listed on Dec. 14 for $1,359,000, it sold on Dec. 28 for $1,290,000.

65 Onaway Rd. S.

This three-bedroom home sits on a 50-foot by 150-foot property in Port Credit, just one block from Lake Ontario and waterfront trails. The main level features a large family room with vaulted ceilings and skylights. It comes with three fireplaces and a finished basement. However, the listing suggests property could be used to build a dream home and drawings are available for a rebuild.

First listed for $1,499,900 back in June, the asking price shot up to $2,050,000 in July, then the home finally sold for $1,725,000 on Dec. 19.

5214 Palomar Crescent

This four-bedroom, colourful home got a $400,000 upgrade recently. Upgrades include all new appliances in the kitchen and a new washer and dryer in the basement. The basement also has a renovated apartment unit.

This home was listed for $1,599,000 in November and sold for $1,450,000 on Dec. 19

Photos and information via HouseSigma, main photo is 5214 Palomar Crescent.