Clarkson Real Estate
Updated for 2023
When home buyers look for affordable townhouses for sale in Mississauga, 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.
2022 was a year of change for the real estate market in Mississauga. Unit sales on Bromsgrove Rd from January 1 to December 31 dropped from 64 in 2021, to 36 in 2022.
There are approximately 725 residential condominium units on the street.
The numbers supplied here are courtesy of the Toronto Regional Real Estate Board (TRREB).
Sale Prices – Looking Back at 2022:
|Day on Market||14||7|
Out of 36 Mississauga townhomes which were sold on Bromsgrove Road during 2022, the ‘average’ asking price was $733,603. 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, 36).
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 2022 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 2022 shows that it took 14 days on average to sell a townhouse on Bromsgrove Road during during this timeframe. This is an increase from the 9 days recorded in the previous year.
Let’s take a look at the individual addresses:
2170 Bromsgrove Road
There were 7 sales at this multi-storey townhouse complex during 2022. Range in asking price was from $599,900 to $729,000.
2212 Bromsgrove Road
There were no sales at this newly constructed complex on Bromsgrove Road in 2022!
2232 Bromsgrove Road
There were no sales at this complex in 2022!
2315 Bromsgrove Road
During 2022 there were 10 sales at this popular complex. Asking prices ranged from $669,000 to $799,000.
2340 Bromsgrove Road
There was a single sale here, with an asking price of $749,900.
2380 Bromsgrove Road
There were 5 sales here. There was a wide range in asking prices from $650,000 to $750,000.
2395 Bromsgrove Road
This complex had 4 sales during 2022. Asking price ranged from $699,000 to $950,000.
2440 Bromsgrove Road
There was a total of 8 sales at this large townhouse complex during 2022. Asking prices ranged from a low of $649,000 to a high of $830,000.
2687 Bromsgrove Road
No sales during 2022!
2688 Bromsgrove Road
This complex had 1 sale during 2022, with an asking price of $799,000.
Median Sales Price 2011 – 2022
We can compare the past year’s MLS selling prices for the townhomes on Bromsgrove Rd. to sales from 2011 – 2022:
- Median Sales price 2022 = $805,000, an increase of 13% from 2021
- Median Sales price 2021 = $709,139, an increase of 18% from 2020
- Median Sales price 2020 = $597,850, an increase of 14% from 2019
- Median Sales price 2019 = $522,500, an increase of 5% from 2018
- Median Sales price 2018 = $496,500, a decrease of less than 1% from 2017
- Median Sales price 2017 = $500,000, an increase of 25% from 2016
- 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 13% jump in prices during 2022 was entirely realized during the first four months of the year.
Since then we have seen a pivot in the market. Sales activity and prices have dropped while interest rates have risen.
Despite the current slowdown, over the past eleven years, people who have purchased one of these popular Clarkson townhouses have done very well with their investment.
Average Days on the Market
- Average days on the market 2022 = 14
- Average days on the market 2021 = 9
- Average days on the market 2020 = 19
- Average days on the market 2019 = 18
- Average days on the market 2018 = 27
- Average days on the market 2017 = 12
- 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 (the time it took to sell) came in at 14, still a very good number despite the change in the market. This is especially good for a neighborhood built during the 1970s.
Looking Ahead – What’s in Store for 2023?
As 2023 begins a new year, how will prices change for these Mississauga townhouses?
There has been a dramatic shift in the real estate market, entirely caused by rapidly rising interest rates. We expect that the rates may go up even more, by a small amount, in the first half of the new year.
Then they are expected to plateau for a while, before gradually coming back down. But when they do decline, it will not be to the record lows we have seen over the past couple of year.
Immigration into Canada and the Greater Toronto Area is surging.
This adds more pressure on the demand side.
The current Liberal government has indicated that they will admit over 500,000 people into the country in 2023, and they all need somewhere to live.
About 1/2 of all immigrants into Canada end up in the GTA.
We expect real estate prices to remain soft during the first half of the year. Once interest rates stabilize, then the market will start to recover. But it could take a while.
We hope you have enjoyed our 2022 summary of the townhouses for sale in Mississauga, 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. Get further insights from our Clarkson overview.
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tags: townhouses for sale in Mississauga, townhouse for sale in Mississauga Ontario, Bromsgrove Rd