Home prices drop to nearly $950K in Mississauga

The real estate market in Mississauga is experiencing a decline, with properties taking longer to sell and prices dropping. The average home price in December 2023 was $951,608, a decrease of 4.2% compared to the previous year. The number of new listings also decreased significantly. However, single-family homes still have an average price of over $1 million. The slow market is attributed to high borrowing costs and federal mortgage qualification standards. Lower mortgage rates and a resilient economy are expected to lead to a rebound in home sales in 2024.

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