TOWNHOUSES FOR SALE IN MISSISSAUGA
Clarkson Real Estate Market Review
When home buyers look for affordable Mississauga townhouses for sale, they are often drawn to the townhomes of Bromsgrove Rd, which are located in the southwest area of Mississauga known as Clarkson. These Mississauga townhomes have long been a popular choice for first time buyers, both singles and families. Today we are going to review the real estate selling prices for these townhomes on Bromsgrove Road. You can also check other pages on this site for photos of the townhouse complexes, and a list of neighbourhood amenities.
2016 was another great year for sales on Bromsgrove, out of the approximate 660 residential condominium units on the street, there were 46 condominium townhouses that changed hands in the twelve months from Jan 1, 2016 to December 31, 2016. The numbers supplied here are courtesy of the Toronto Real Estate Board (TREB).
Bromsgrove Road Townhouse prices - Looking Back at 2016:
|Days on Market
Out of forty-six Mississauga townhomes which were sold on Bromsgrove Road during 2016, the 'average' asking price was $378,424. Average asking prices are determined by adding up the MLS asking prices together, and then dividing by the total number of townhouses sold (in this case, 46). While average prices are useful, they can often be distorted by a single high or low sale.
The 'median' price is a different measurement, where the midpoint of all the sales during 2016 is calculated. Median price can be used to track sales trends, as they are less likely to be distorted by extremely low or high sales.
Sales data for 2016 shows that it took only 17 days on average to sell a townhouse on Bromsgrove Road during during this timeframe - a low number which goes to illustrate how active the market has been.
Let's take a look at the individual addresses:
2170 Bromsgrove Road
There were 9 sales at this multi-storey townhouse complex during 2016. Range in asking price was from $249,000 to $299,900.
2315 Bromsgrove Road
There were also 9 sales at this popular complex during 2016. There was a wide range in asking price from $399,000 to $449,500.
2340 Bromsgrove Road
There were 3 sales during 2016. Asking price ranged from $385,900 to 419,900.
2380 Bromsgrove Road
There were a total of 2 sales here. Asking price ranged from $389,000 to $424,900.
2395 Bromsgrove Road
There were 5 sales here during 2016. Asking price ranged from $299,900 to $403,900.
2440 Bromsgrove Road
There were a grand total of 18 sales at this large townhouse complex during 2016. asking price ranged from a low of $349,900 to a high of $479,000.
2687 Bromsgrove Road
No sales during 2016!
2688 Bromsgrove Road
No sales during 2016!
Mississauga Townhomes on Bromsgrove - Compare Selling Prices
We can compare the past year's MLS selling prices for the townhomes on Bromsgrove Rd. to sales from 2011 - 2015:
Median Sales price 2016 = $399,950, an increase of 16% from 2015
Median Sales price 2015 = $344,000, an increase of 17% from 2014
Median Sales price 2014 = $293,500, an increase of 4% from 2013
Median Sales price 2013 = $281,000, an increase of 11% from 2012
Median Sales price 2012 = $252,500, an increase of 4% from 2011
Median Sales price 2011 = $243,000
The 16% per cent gain during 2016 shows outstanding equity appreciation for the townhouses of Bromsgrove Road! Over the past five years, people who have purchased one of these popular Clarkson townhouses have enjoyed a 64% per cent total gain in their equity.
Bromsgrove Rd. Townhomes - Average Days on the Market
Average days on the market 2016 = 17
Average days on the market 2015 = 25
Average days on the market 2014 = 22
Average days on the market 2013 = 23
Average days on the market 2012 = 25
Average days on the market 2011 = 22
The average days on the market are extremely positive for a neighborhood built during the 1970s.
What's in Store for 2017?
As 2017 begins a new year, how will prices change for these Mississauga townhouses?
All signs point to a continuation of the healthy and positive market conditions that we have enjoyed over the past several years.
We believe that if, as expected, interest rates remain at their current historic lows, and if the overall economy in Ontario remains robust, then the market will continue to rise.
One other factor contributing to the strong real estate market in Mississauga is the incredible influx of people from all around the world, who continue to move into our city. This net gain of new immigrants should continue as long as current immigration rules and quotas remain in place.
We hope you have enjoyed our 2016 summary of the townhouses for sale in Missisauga, located on Bromsgrove Rd - their sales activity and prices.These townhouses are a great housing option for families, singles, and for investors. Their great location near schools, shopping and the Clarkson GO station, combined with their affordability, have make them popular real estate in Mississauga.
If you are thinking of buying, let me show you what key things you need to be doing each day to be able to purchase your next home.
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topics: bromsgrove road townhouse, clarkson real estate, mississauga real estate, mississauga townhomes