A Brampton house that was once sold for over $1.8 million just four years ago has changed hands again, this time at a staggering loss of nearly $820,000 as Ontario experiences a slump in resale prices. (Photo: Real Media tours on You Tube)
A Brampton house that was once sold for over $1.8 million just four years ago has changed hands again, this time at a staggering loss of nearly $820,000 as Ontario experiences a slump in resale prices.
The 4+2-bedroom, five-bathroom residence on Midnightsun Trail in Brampton was initially listed in 2021 at $1,299,000 and purchased for $1,261,000 in May of the same year.
It then saw another sale less than a year later in January 2022 with an impressive price increase to $1,802,000.
Fast-forward to last week: the two-storey home featuring an in-ground pool has been resold at a 45.45 percent loss for $983,000. The property – which also includes a finished basement suite with its own entrance – was sold “as is,” with reports indicating the home appeared empty and even had the fridge removed,” according to local real estate expert @Shazi Goalie.
“Four years ago, buyers were fighting to get in. Today, the question is how much further this market can fall,” he shared on X.
🚨 BRAMPTON HOUSING CRASH! $820K GONE!
2022: Sold for $1,802,000
2026: Sold for $983,000
An astonishing loss of $820K (45%).
6 bedrooms. 5 bathrooms. Finished basement with separate entrance. In-ground pool.
Now selling AS IS; the home looks emptied out and missing the fridge.
Just four years back, buyers were eager to get inside.
Now we’re left wondering how much more this market might drop.
– Shazi (@Shazi Goalie) October 21, 2026
Several homes in Brampton that previously sold for over one million dollars have recently been put up for sale under “power of sale” – which allows lenders to foreclose and sell properties when borrowers default on their loans.
A property on Gulfbrook Circle in Brampton was bought back in February 2022 for $1,715,000 and listed several times during 2025 starting at an asking price of $1,429,000 before being reduced to $1,199,900. This detached house was relisted again last August for $969,900 and eventually sold earlier this year for just $968,000 – resulting in a loss of about $747,000.
Data from Equifax released earlier this year indicated that delinquent mortgages are rising across Ontario; notably Banton has the highest rate nationally-more than double the average seen across Canada. The statistics showed mortgage delinquencies surged by 52 percent throughout Ontario during Q1 of 2026 while missed payments increased from 0.24 percent to 0.36 percent compared year-over-year.
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