Peel Region Home Sales Report: July 2024

Peel Region home sales in July 2024, saw a notable increase compared to last year. This uptick in sales was complemented by a rise in new listings, providing buyers with more options in the marketplace. As a result, there was a slight relief in selling prices on average.

Peel Region recorded 938 home sales through TRREB’s MLS® System in July 2024, a 5% increase from the 893 sales reported in July 2023. New listings surged by 12.4% year-over-year, reaching a total of 3,114. The average selling price decreased by 1.3%, from $1,079,563 in July 2023 to $1,065,043 in July 2024. The average number of days a listing remained on the market increased to 24 days, compared to 17 days in July 2023.

Brampton’s real estate market reported an average home price of $1,010,044, a 4% decrease from the July 2023 average of $1,052,059. Homes in Brampton averaged 21 days on the market, with 1,845 active listings.

In Mississauga, the average home price was $1,042,868, down 1.4% from the July 2023 average sale price of $1,057,640. There were 2,121 active listings, with homes averaging 24 days on the market.

Caledon, however, saw an increase in home prices, with the average price rising by 10% to $1,529,855 compared to $1,389,854 in July 2023. Homes in Caledon stayed on the market for an average of 31 days, with a total of 69 home sales reported.

In summary, Peel Region experienced an increase in home sales and new listings in July 2024, giving buyers more options and slightly lower prices. This trend was evident across Brampton, Mississauga, and Caledon, each showing unique characteristics and shifts in the real estate landscape.