Condo prices in Brampton and Mississauga have dropped to their lowest levels in years, according to new Toronto Regional Real Estate Board (TRREB) data, marking one of the sharpest corrections in the condo market since the pandemic began.
In Mississauga, TRREB’s November Market Watch report shows the average condo apartment sold for $527,568 — the lowest monthly average since December 2020, when units sold for $519,346. From the peak in February 2022, when the average price hit $736,006, Mississauga condo values have fallen 28.3 per cent.
Brampton’s condo market has followed a similar trajectory. The city recorded an average price of $431,579 in October, a level not seen since December 2019’s average of $423,188. Prices ticked up slightly in November to $433,346, but remain 37.4 per cent below the February 2022 peak of $693,955.
The declines in condo prices reflect a broader downturn in real estate across the two cities throughout 2025. In Brampton, the average price for all home types in November was $914,161 — a 10 per cent drop from the previous year’s average of just over $1.016 million. Mississauga saw a smaller decline, with its combined average price falling 2.8 per cent year over year to $966,621, down from $994,634 in November 2024 after hitting a 2025 high of $1.047 million in January.
Detached homes have seen some of the sharpest corrections. In Mississauga, detached prices fell 12.6 per cent between January and November, dropping from roughly $1.596 million to $1.395 million. Brampton’s detached homes peaked at $1.165 million in February 2025 and have since declined 10.1 per cent to $1.047 million.
Semis have also taken a significant hit. In Mississauga, semi-detached homes fell 11.2 per cent this year, dropping from just under $1.048 million in January to $930,503 in November. Brampton’s semi-detached market saw prices fall below $800,000 for the first time since 2020, declining from $932,443 in early 2025 to $799,660 in November — a 14.2 per cent decrease.
TRREB says the declines in Brampton and Mississauga mirror a wider cooling across the Greater Toronto Area. The board attributes the slump to buyers stepping back amid uncertain economic signals and higher borrowing costs. However, TRREB’s outlook remains cautiously optimistic, noting that improving job numbers and broader economic gains in November could help restore confidence.
“There are many GTA households who want to take advantage of lower borrowing costs and more favourable selling prices. What they need most is confidence in their long-term employment outlook,” TRREB president Elechia Barry-Sproule said. “If this positive momentum continues, more people will be in a position to consider purchasing a home in 2026.”