The real estate market in Mississauga saw mixed movement in June, as home sales increased while average prices dropped slightly. According to new analysis from Zoocasa, based on data from the Toronto Regional Real Estate Board (TRREB), home sales in Mississauga rose by 3.9% over May, reaching 528 transactions. However, this uptick was largely driven by more affordable housing options.
Higher-end properties such as detached homes, traditional townhouses, and apartment condos saw a slowdown in activity. Meanwhile, lower-priced housing types, like condo townhouses and semi-detached homes, showed stronger traction. Detached home sales inched down by 1%, with 202 homes sold compared to 204 in May. Their average selling price dipped 2% to $1,442,898, and new listings also slid by 6.2%. These homes averaged 25 days on the market.
The overall average home price in Mississauga dropped 2.1%, from $1,040,979 in May to $1,019,578 in June. Townhouses and apartment condos faced notable declines in buyer interest. Townhouse sales fell sharply by 18.2%, and prices dropped 6.8% to an average of $946,389. Apartment condo sales declined 8.1%, and the average price softened to $576,909. These units also took longer to sell, with days on the market increasing from 33 in May to 43 in June.
In contrast, the demand for condo townhouses jumped 43.3%, with average prices climbing 3.3% to $766,204. Semi-detached homes saw a modest increase in sales of 2.8%, and prices held steady at just under $1 million, with homes selling faster than other categories—averaging 21 days on the market.
While new listings across Mississauga fell 7.9% to 1,837, the number of active listings slightly rose to 2,905, showing a 3.8% increase. The months of inventory metric changed only slightly, moving from 4.4 to 4.5 months.
On a broader scale, TRREB reported that home prices across the Greater Toronto Area dipped last month. The average selling price in June stood at $1,101,691—a 5.4% drop compared to the same time last year. TRREB linked the softer prices to broader economic uncertainty.
“A firm trade deal with the United States accompanied by an end to cross-border sabre rattling would go a long way to alleviating a weakened economy and improving consumer confidence,” said TRREB’s chief information officer, Jason Mercer. He added that further interest rate cuts could help households manage mortgage payments and possibly stabilize selling prices in the months ahead.