Brampton Housing Market Report
- Brampton’s benchmark home price in April 2024 was $1,028,400, down 3.5% year-over-year.
- The average Brampton home sold price is now at $1,026,582 down by 5.7% compared to last year.
- Detached home average price decreased by 4.2% year-over-year to $1.21M.
- Semi-detached home average price decreased by 6.1% year-over-year to $956k.
- Freehold townhouse average price decreased by 4.3% year-over-year to $903k.
- Condo townhouse average price decreased by 3.3% year-over-year to $710k.
- Condo apartment average price decreased by 6.4% year-over-year to $537k.
- May 11, 2024 Update: Today’s Lowest mortgage rates in Brampton is 4.74% for 5-Year Fixed
Brampton Housing Market Overview
Brampton Housing Market: Price Movements for April 2024
Benchmark Home Price | $1,028,400 | +1.1% 1-Month Change | -3.5% 1-Year Change |
Average Home Price | $1,026,582 | -0.2% 1-Month Change | -5.7% 1-Year Change |
Median Home Price | $985,000 | +1.5% 1-Month Change | -6.2% 1-Year Change |
Home prices in Brampton’s housing market inch lower as sales remain down year-over-year. For April 2024, Brampton’s benchmark home price declined 3.5% year-over-year to $1,028,400. That’s still up 1.1% month-over-month.
Meanwhile, for April 2024, the average Brampton home price was $1,026,582, down 5.7% year-over-year and down 0.2% from last month. That’s quite a difference from the neighbouring Mississauga housing market, which has instead seen prices rise 6.6% compared to last month’s price in March 2024 and up by 4.6% year-over-year.
Brampton’s median home price has declined year-over-year, down 6.2%, to $985,000.
Sales Statistics
There were a total of 517 residential sales in Brampton in April 2024. This represents a decrease of 21.7% compared to the same period last year. The average sale price for all properties was $1,026,582, which is lower than Mississauga's average home price of $1,126,060. However, Brampton’s median home price of $985,000 remains higher than Mississauga’s median home price of $980,000.
Detached Homes
Detached homes in Brampton continue to be the most popular type of property among Brampton homebuyers, with 261 detached homes sold in April 2024. The average sale price for a detached home was $1,208,562, showing a decrease of 4.2% year-over-year. On a monthly basis, detached home prices are up 0.7% month-over-month.
Semi-Detached Homes
Semi-detached homes in Brampton had 108 homes sold last month, a 6.1% decrease in sales year-over-year. The average sale price also decreased 6.1% year-over-year to $956,090.
Freehold Townhomes
The freehold townhome market in Brampton saw a decrease in activity, with 67 units sold last month, down by 17.3% year-over-year. The average sale price for freehold townhomes declined 4.3% year-over-year to $903,037.
Condominium Apartments
Condos sales in Brampton are not as numerous as other property types, with 39 units sold last month, down 15.2% year-over-year. The average sale price for a condo was $536,564, showing a decrease of 6.4% compared to the same month last year. On a monthly basis, the average Brampton condo price is down 6.5%.
Market Conditions
New listings in Brampton’s housing market numbered 1,373, a 41% year-over-year increase. Compared to Brampton’s 517 sales in April 2024, this brings about a sales-to-new-listings ratio (SNLR) of 38%, signalling a market favouring buyers. That’s lower than the GTA’s 42% SNLR and Mississauga’s 43% SNLR.
Home Prices in Brampton
Brampton Housing Market Statistics for All Property Types
Average Sold Price
Total Transactions
Property Type Distribution
Free Home Value Estimator
Housing Markets Across Canada
Market Overview for Detached Homes
Average Sold Price
Transactions
Market Overview for Semi-Detached Homes
Average Sold Price
Transactions
Market Overview for Townhouses
Average Sold Price
Transactions
Market Overview for Condo Apartments
Average Sold Price
Transactions
Greater Toronto Area (GTA) Breakdown by Region
Glossary and Definitions
MLS® HPI: The MLS® Home Price Index (HPI) is an index by the Canadian Real Estate Association (CREA) that tracks the prices of homes in a neighborhood. It allows Canadians to quickly compare home prices across Canada and between periods of time without having to account for specific features of a property. Unlike market prices, which can fluctuate from month to month based on seasonal dynamics, the HPI provides a stable view tracks trends across a longer period of time. The HPI is reviewed every year in May to adjust for changes in the real estate marketplace.
MLS® HPI Benchmark Price: The MLS® Home Price Index (HPI) Benchmark Price is the HPI translated into a real-world price number.
Strata Insurance: Strata insurance is insurance used by a strata like a condominium to covers damages to common areas and assets and liability to the strata. It can also include fixtures built or installed as part of the original construction of each unit, even though these may not be common structures. The insurance can cover:
- Buildings and structures associated with the strata including common areas such as the roof, parking garages, driveways, gyms, pools, etc.
- Liability for any property damage or bodily injury suffered on strata property
- Any fixtures that are part of the "standard unit" or original construction of each unit
Strata insurance does not usually include personal items and appliances that are part of a condo unit. It also does not cover the damages made by individual unit owners, such as in the case of water damage caused by a unit owner. These are usually covered by personal condo insurance.
Property types
Detached home: A detached home is your standard single-family home. It is a residential building that stands alone and is separately titled or legally a single unit.
Semi-detached home: A semi-detached home is similar to a detached home, except it shares a wall with another home. This pair of homes must make up an independent building and each should be separately titled or legally two separate units. There can only be two homes in a semi-detached building.
Townhouses: A townhouse is the middle between a detached/semi-detached home and a condo apartment. Like detached and semi-detached homes, they are often single-family units that have their own land and may be attached to other units. However, like condo apartments, they typically have to pay co-ownership fees for maintenance and may share some common features with their neighbors.
Condo apartment: This category includes all apartments and condominiums. These are complexes of residential units with common areas such as hallways, parking lots, stairwells, etc. They can be low-rise, mid-rise, or high-rise buildings. Unlike townhouses, there are no parts of the lot (the land of the building) where access is reserved for only one owner or occupant. There can be privately owned units and spaces inside the building.
Plexes are multi-story buildings with two to four individual units, usually one on each floor. They are a mainstay in Montreal and other cities in Quebec. Each unit is usually individually accessible via an external entrance with higher floors connected by staircases.
Property Classes
Freeholds: A freehold is any property where the owner owns both the house and the land it is built on. Common freehold property types include: detached, semi-detached, some townhouses, and farmland.
Condominiums: A condominium or condo is any property where the owner owns the home (or unit) but shares ownership of the land and other improvements with a condominium corporation. Common condominium property types include condo apartments and some townhouses.
Leasehold: Leasehold describes the situation where different entities own the land and the structure built on the land. Owner of the buildings has leased the land and pay rent to their landlord while owning the building on the land.
Housing Markets Across Canada
Data sourced from the Toronto Regional Real Estate Board (TRREB) and the Canadian Real Estate Association (CREA). Any analysis or commentary is the opinion of the analysts at WOWA.ca and should not be construed as investment advice. Please consult a licensed real estate professional before making a real estate investment decision. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.