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A good indicator of how well a city is doing economically is how well the real estate market is doing. It stands to reason that the more people who buy real estate within a certain location, the more jobs and entertainment it has to offer. People looking for a condo in Mississauga know that as more people are drawn to the success of a city, the more housing prices go up. This is generally true even in the middle of a recession, as a comparison of the Mississauga property listings of the last few years will tell you.
First of all, the prices of houses in Mississauga do not seem to have fallen off much despite the realty crisis which gripped much of the greater Toronto area over the past two years. It's likely that Mississauga's popularity contributed to the fact that there are less power of sale properties in Mississauga than in other southern Ontario municipalities. Less of these foreclosed properties on the market means there is less to drive down the price of houses which are still owned by the original buyer. Combine that with the fact that Mississauga continues to grow, both as a suburb of Toronto and as a city in its own right, and you can see why prices remain stable.
And that stable doesn't necessarily mean prohibitively high, as it does in much of the rest of the greater Toronto area. People looking at realty in the city of Toronto itself will be greatly relieved as they peruse the MLS Mississauga, as comparative real estate is much more affordable here than in Toronto. The average sale price of a single family home in Mississauga sits at around $360,000, about $40,000 less than what you would find in downtown Toronto and its neighbourhoods.
Despite the fact that Mississauga is dwarfed in size compared to Toronto, it still has a significant population presence in the Great Lakes region. In fact, its explosive growth over the last decade has meant it is now the fifth most populous city on the Lakes. That means there is population demand for a wide range of real estate types, both residential and commercial. Proximity to Toronto has given Mississauga residents a healthy appetite for modern condo living and all its conveniences. As is the case with single family dwellings, Mississauga condominiums cost significantly less than those in the bigger city. And, there are all sorts of condo styles as well. Luxury units, sky rises, and loft condos are all available in Mississauga.
So, if you're curious about the market for Mississauga homes for sale, there you have it. Mississauga continues to have a stable real estate market, with reasonable prices, guaranteed appreciation, and a variety of choices.
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