A three-bedroom home in Mississauga recently sold for significantly below the city’s average price—good news for buyers but less favorable for sellers.
A three-bedroom home in Mississauga recently sold for significantly below the city’s average price—good news for buyers but less favorable for sellers.
Located at 3524 Croatia Dr. in the Fairview neighborhood, the property was estimated by HouseSigma to be worth just over $1 million. However, it sold this week for $925,000, falling short of its $999,999 list price. This sale reflects current market conditions.
Real estate commentator shazigoalie highlighted this sale on social media, noting it as a potential “stark warning” amid a declining market.
The cooler real estate climate has led to a 5.5 percent drop in home prices in Mississauga from June to July 2024. The average price for all home types is now $1,042,868, while the average price for detached homes was $1,589,373 in July, according to the latest Toronto Regional Real Estate Board report.
A recent study revealed that 82 percent of homes in Mississauga, Oakville, and the GTA are selling below their asking prices.
The Fairview home features spacious bedrooms, three bathrooms, a two-car garage, and a finished basement with an additional bedroom and a modern, upgraded four-piece bathroom.
Experts suggest that more interest rate cuts may be necessary to invigorate the market.
المزيد
1