Mississauga, Ontario Real Estate & Houses for Sale
Mississauga, ON Real Estate Market & Guide
Mississauga is a suburb of Toronto and Canada’s sixth-most populous city with 727,911 people living there in 2019. It is located on the shores of Lake Ontario offering lush parkland, walking and biking trails as well as a wide selection of very desirable homes. Although it is located within 30 minutes of Toronto, it is a major city unto itself, experiencing explosive growth as more and more people seek more affordable housing within closer proximity to the downtown core of Toronto.
Mississauga – Proud Heritage
Mississauga has a long history dating back to the early 1600s when French traders first encountered Native peoples around the North Shore of Lake Huron. The people were called the Mississaugas, which translated, to “River of the North of Many Mouths.” By the early 1700s, the tribe had migrated south where they settled around the Etobicoke Creek, Credit River and Burlington Bay.
As settlers slowly began to take up lots, over time small settlements were established with the earliest villages of Clarkson, Cooksville, Dixie, Erindale, Malton, Meadowvale Village, Port Credit and Streetsville becoming thriving communities. Prestigious areas such as Lakeview and Lorne Park were established and remain today, while other smaller areas became lost hamlets that failed to survive.
RE/MAX ranked Mississauga as one of the top places to live in Canada in 2019. The report focused on the quality of life based on the factors Canadians consider important for their home-buying decisions. Not surprisingly, this included easy access to shopping, dining and green spaces that are all easy to find in Mississauga.
Mississauga meets many requirements for livability including:
- Availability of work/access to employment opportunities
- Economic development
- Population growth
- Walking and cycling trail
While the lake is always a big attraction, there is also trails and parkland along the Credit River. Another draw to the areas is its availability of prime real estate on Lake Ontario’s shoreline. As well, despite being so close to Toronto, locals can enjoy cultural and arts attractions closer to home. Its shopping and dining experiences have made it a world-class city that can stand on its own. As a strong multi-cultural area, it provides an endless array of international dining opportunities, as well as specialty grocery stores.
Shopping is a snap with two major malls in the area including Square One Shopping Centre and the outlet stores at Heartland Town Centre. You also have the choice of many local neighbourhood villages where the main streets provide unique boutiques covering a multitude of needs.
The city is the Canadian headquarters to more than 60 Fortune 500 companies. It is committed to economic development, announcing a five-year strategy (2020-2025) building on the success of the previous 10-years. It will include three core economic development priorities including support of globally-minded business, developing distinctive places and delivering durable infrastructure.
Mississauga is committed to inspire and attract business innovation to attract a more resilient talent pool. The sectors the city is hoping to attract include advanced manufacturing, smart logistics, life sciences and higher value business services.
It currently is home to 98,000 plus businesses and its initial business strategy helped attract and create over 24,000 businesses creating 26,000 jobs. Mississauga has outpaced Ontario in job growth and generates approximately $55 billion a year.
Two of the best places to live in Mississauga are Port Credit and Streetsville, according to a RE/MAX survey. The survey rated access to green spaces and parks, walkability, retail and restaurants and the ease of getting around/public transit.
Port Credit has a charming little village with an assortment of eclectic shops, bars, and restaurants. It is right on the lake with a vibrant community that attracts people of all ages. Charming mature streets, as well as condos, can be found here offering a variety of different housing options.
Streetsville is known as “The Village in the City” thanks to its Main Street strip. Although there is quite a bit of urban sprawl and new home development here, it also offers a variety of older housing. It pretty much offers everything Port Credit offers sans the lake.
Other popular areas for real estate listings include Mineola and Lorne Park, which offer multi-million-dollar homes, and custom builds on peaceful streets that are close to the City Centre, QEW, and Lakeshore. Meadowvale is a popular choice for families due to its parks and trails and its affordable housing. Next door is Lisgar ideal for those looking for newer housing developments. Central Erin Mills is a mature area that has become very desirable offering traditional 2-storey detached homes as well as new condo projects.
Mississauga elementary and high schools fall under the Peel District School boards. There are also a variety of private and specialty schools available including Oakwood Academy, St. Jude’s Academy, Bronte College and several Montessori schools.
The city also boasts a University of Toronto and Algoma University campus, as well as several top-notch colleges including Lambton and Sheridan.
Getting Around Mississauga
Mississauga has a high walkability score of 80 meaning most neighbourhoods allow you to run errands on foot. Its transit score is lower at 60 based on the MiWay system. It offers travel by bus local and express buses and has a few GO train stations and GO bus routes. The iWay biking infrastructure has a rating of 64 and runs about the town. For those who travel, you can’t get any closer to Lester B. Pearson International Airport than Mississauga!
Mississauga Real Estate
Housing prices continue to rise along with the Greater Toronto Area. In 2019, the average price rose above $800,000, a historic increase. According to the Toronto Real Estate Board (TREB) reports from November 2019, the average sale price for all types of dwellings in October was $816,383.
Condominiums hit a record high at $524,316 while detached homes rose, but not to record levels at $1,172,971. With third-quarter condo rental prices sitting at all-time highs at an average of $2,178, investors interested in finding a rental unit might consider buying in some areas of Mississauga. Two-bedrooms rent for an average of $2,600 and three-bedrooms were $3,099.
If you would like more information about buying or selling a home in Mississauga reach out to our team today.