House sells for $1.3 million over its 2019 selling price in Mississauga

It’s not uncommon nowadays to see homes in Mississauga sell for way more than they did previously, but you’d be surprised at just how vast the price differences can be.

One stunning example: A Lakeview area house located at 1080 West Avenue which recently sold for $2,025,000 — more than $1.3 million over its 2019 price of $658,000.

The three-bedroom, four-bathroom property was sold on February 1, 2022 after being listed on the market for a little over a week.

It also previously sold for $580,000 in 2016, and sold for its lowest price of $165,000 all the way back in 2003.

According to a 2021 report from RE/MAX, inventory constraints have led to unprecedented market performance in 60 Toronto Regional Real Estate Board (TRREB) districts.

Based on the findings, the value of single-detached homes in 90 per cent of TRREB communities has increased significantly year-over-year, with nearly half reporting an increase of 25 per cent or more.

In Peel Region, Brampton saw the biggest spike in prices, as the average price for a single-detached home rose 28.8 per cent from six figures in 2020 to $1,189,811 in 2021.

Meanwhile, the average price in Mississauga increased 26.4 per cent year-over-year to $1,536,919.

With files from Matt Dionne

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