A house that was bought for over $1.7 million has now been sold at a significant loss in an Ontario city.
With sellers facing challenges due to falling prices in the Greater Toronto Area, properties are going for much less than their original purchase prices.
Recent real estate reports indicate a decline in prices throughout the region.
The average selling price across the Greater Toronto Area dropped 5.1 percent compared to last year, now sitting at $1,006,735, according to the Toronto Regional Real Estate Board’s latest report.
Many homeowners are experiencing losses when selling their properties.
In early January, a bungalow in Mississauga was sold for a $645,000 loss. This month, a three-bedroom detached home in Brampton went for $415,000 less than its previous sale price.
This recent case involves another property located in Mississauga.
The residence at 7129 Gillespie Lane in Meadowvale was purchased for $1,795,000 in April of 2022, as noted in online real estate records.
Less than a year later, it was listed again in February 2023 for $1,699,000 but did not find a buyer. The home went through several relistings with price reductions throughout 2024 and 2025.
Eventually, it sold for $1,250,000 at the end of December-a total loss of $545,000.
“This detached home in Mississauga was bought in 2022 for $1.795 million,” real estate commentator Shazi Goalie shared on X. “After multiple failed listings, price cuts and months of market rejection, reality finally set in. It just sold for $1.25M. A brutal $545K loss on paper.”
The four-bedroom detached home features a double garage along with several upgrades like hardwood flooring. It also boasts a finished basement that includes an extra bedroom and a spacious recreation area complete with a full four-piece bathroom.
📢 Mississauga Meltdown
📍Mississauga, ON Canada
Another day brings another big drop! 😬
This detached home in Mississauga was purchased back in 2022 for $1.795 MILLION. 💰
After numerous unsuccessful listings and price reductions over months without interest from buyers.. 📉
It… pic. twitter. com/g Ccd1n GLW8
– Shazi (@Shazi Goalie) January 11, 2026
Photos: Re/Max Optimum Realty
Last 30 Days: 61,866 Votes
All Time: 1,145,508 Votes
3416 VOTES
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This recent case involves another property located in Mississauga.
The residence at 7129 Gillespie Lane in Meadowvale was purchased for $1,795,000 in April of 2022, as noted in online real estate records.
Less than a year later, it was listed again in February 2023 for $1,699,000 but did not find a buyer. The home went through several relistings with price reductions throughout 2024 and 2025.
Eventually, it sold for $1,250,000 at the end of December-a total loss of $545,000.
“This detached home in Mississauga was bought in 2022 for $1.795 million,” real estate commentator Shazi Goalie shared on X. “After multiple failed listings, price cuts and months of market rejection, reality finally set in. It just sold for $1.25M. A brutal $545K loss on paper.”
The four-bedroom detached home features a double garage along with several upgrades like hardwood flooring. It also boasts a finished basement that includes an extra bedroom and a spacious recreation area complete with a full four-piece bathroom.
📢 Mississauga Meltdown
📍Mississauga, ON Canada
Another day brings another big drop! 😬
This detached home in Mississauga was purchased back in 2022 for $1.795 MILLION. 💰
After numerous unsuccessful listings and price reductions over months without interest from buyers.. 📉
It… pic. twitter. com/g Ccd1n GLW8
– Shazi (@Shazi Goalie) January 11, 2026
Photos: Re/Max Optimum Realty
Last 30 Days: 61,866 Votes
All Time: 1,145,508 Votes
3416 VOTES
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