Ontario home sold at $1.1 million loss compared to its 2021 price

An Ontario home sold at a massive $1.1 million loss this month, compared to its 2021 price, and the huge drop in selling price shows just how much real estate has fluctuated across the province in recent years.

The detached Mississauga home was first sold for $4,225,000 in June 2021, at a time when low borrowing rates drove up competition in the region and made dreams of homeownership more attainable.

According to its listing, the home boasts four bedrooms, six bathrooms, approximately 7,100 square feet of living space, and many luxury amenities, including a rooftop terrace, a saltwater swimming pool, a steam shower, and a home gym.

Just three years after being sold, the home was put back on the market for $4,249,000, but the listing was terminated shortly thereafter. Towards the end of 2024, the home was re-listed for $3,999,000, but failed to attract any buyers.

The home's sale history. 

The home was put back on the market for a third time in January 2025, when it was listed for $3,889,000. Finally, the home was listed for $3,245,000 earlier this month, and managed to sell for $3,125,000 — representing a loss of $1.1 million compared to its price in 2021.

Despite this, the Toronto Regional Real Estate Board (TTREB) reported in its latest Market Watch that housing conditions continued to improve throughout June in the GTA, with sales growing year-over-year.

"After a slow start in the first quarter, we saw a marked improvement in home sales in the second quarter of this year," said TRREB President Daniel Steinfeld.

"This result followed TRREB's 2026 outlook, which called for a year of two halves. We expect accelerating transactions and more competition between buyers in the last six months of the year, helping to satisfy pent-up demand and ultimately resulting in renewed price growth."

Overall, GTA realtors reported just over 6,700 home sales through TRREB's MLS System last month, representing an increase of 9.4 per cent compared to last month. On the other hand, the average selling price of $1,058,658 was down by 3.9 per cent compared to June 2025.

"While the average selling price was still down year-over-year in June, the annual rate of decline has receded over the past few months. If market conditions continue to tighten in the second half of 2026, selling prices could move in line with 2025 and eventually post some increases," said TRREB's Chief Information Officer Jason Mercer.

"This would give an increasing number of households the confidence to move back into the marketplace."