A house that previously sold for over $1.7 million in Brampton has recently changed ownership at a loss of nearly $750,000.
Brampton’s real estate market experienced a “seasonal slowdown” during the summer, as reported by real estate website Zoocasa, with sales declining by 11.6 percent from July to 440 transactions in August.
The average selling price for all property types fell slightly by 0.1 percent to $886,865 as September approached.
However, one home that had been purchased for almost double that average price in 2022 was resold at a loss of $747,000.
The residence located on Gulfbrook Circle in Brampton was acquired in February 2022 for $1,715,000 and was listed multiple times throughout 2025, initially with an asking price of $1,429,000 before being reduced to $1,199,900.
This detached property was re-listed in August for $969,900 and ultimately sold earlier this month for $968,000.
Local real estate observer @Shazi Goalie highlighted the sale on X and remarked that home prices “are cratering in Brampton.”
A number of homes in Brampton that previously sold for over $1 million have recently been sold under “power of sale” – a mortgage clause allowing lenders to foreclose and sell properties when borrowers default on loans.
Statistics indicate that the number of delinquent mortgages across Ontario has risen this year while Brampton holds the highest rate nationwide – more than double the national average.
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This trend of homes selling at a loss isn’t just happening in Brampton. Sellers in Oshawa (sold for a $750,000 loss), Toronto (sold for a $1.65 million loss), and Mississauga (sold for a $425,000 loss) have also faced significant losses when reselling properties lately.
<p Detached homes continued to lead the market in Brampton despite falling transaction numbers; meanwhile semi-detached homes saw an uptick with sales rising by 6.7 percent in August.
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