Townhouses for Sale in Mississauga – Bromsgrove Rd
Clarkson Real Estate
Making Sense of the Numbers
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.
2019 was another great year for sales on Bromsgrove, out of the approximate 660 residential condominium units on the street, there were 49 condominium townhouses that changed hands in the twelve months from Jan 1, 2019 to December 31, 2019. The numbers supplied here are courtesy of the Toronto Real Estate Board (TREB).
Sales Prices – Looking Back at 2019:
|Day on Market||49||18||15||1||72|
Out of 49 Mississauga townhomes which were sold on Bromsgrove Road during 2019, the ‘average’ asking price was $513,265. 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, 49). 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 2019 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 2019 shows that it took only 18 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 13 sales at this multi-storey townhouse complex during 2019. Range in asking price was from $399,000 to $525,000.
2315 Bromsgrove Road
During 2019 there were 11 sales at this popular complex. There was a wide range in asking price from $449,000 to $599,000.
2340 Bromsgrove Road
2019 saw 2 sales. Asking prices were $559,900 and $589,000.
2380 Bromsgrove Road
There was a single sale here. Asking price was $580,000.
2395 Bromsgrove Road
This complex had 6 sales during 2019. Asking price ranged from $499,900 to $589,900.
2440 Bromsgrove Road
There were a grand total of 15 sales at this large townhouse complex during 2019. Asking prices ranged from a low of $450,000 to a high of $579,000.
2687 Bromsgrove Road
A single sale during 2019! Asking price was $599,900.
2688 Bromsgrove Road
No sales during 2019!
Price Rise from 2011 – 2019
We can compare the past year’s MLS selling prices for the townhomes on Bromsgrove Rd. to sales from 2011 – 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 5% recovery in prices during 2019 shows the gradual recovery from the 2018 drop that was a direct result of our government’s attempts to cool the market in 2017. Even with considerable governmental interference to make it harder to buy real estate in Ontario, prices have rebounded. Over the past eight years, people who have purchased one of these popular Clarkson townhouses have more than doubled their money.
Average Days on the Market
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 is down to 18, a very respectable figure for a neighborhood built during the 1970s.
Looking Ahead – What’s in Store for 2020?
As 2020 begins a new year, how will prices change for these Mississauga townhouses?
We believe that, in spite of government intervention to “cool” the market, relatively affordable townhouses such as those on Bromsgrove Rd. will continue to be very popular.
Interest rates are not expected to rise in 2020, in spite of the healthy and robust state of the economy in Ontario.
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 2019 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 Bromsgrove Road overview.
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