{"id":702465,"date":"2026-05-29T22:14:08","date_gmt":"2026-05-29T22:14:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/702465\/"},"modified":"2026-05-29T22:14:08","modified_gmt":"2026-05-29T22:14:08","slug":"over-580k-loss-on-home-once-sold-for-1-66m-in-brampton","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/702465\/","title":{"rendered":"Over $580K loss on home once sold for $1.66M in Brampton"},"content":{"rendered":"<p>Another home which once sold for over $1.6 million in Brampton has been sold at a loss of over $500,000. (Photo: GTA-Homes.com)<\/p>\n<p>Another home which once sold for over $1.6 million in Brampton has been sold at a loss of over $500,000.<\/p>\n<p>Brampton\u2019s real estate market has seen several properties sold at big losses in recent years, including a home that finally sold in March after several re-listings for $1.22 million for a loss of $513,000.<\/p>\n<p>The trend isn\u2019t exclusive to Brampton, with 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) taking hits when reselling properties.<\/p>\n<p>One 4+2-bedroom, two-story home bought in Brampton in February 2022 sold last week for $1,072,999 \u2013 a loss of around $587,000.<\/p>\n<p>\u201cThe owners tried to hold on. The market kept saying no,\u201d said real estate watcher @ShaziGoalie said in a post on X, adding the owners eventually \u201ctook the loss and moved on.\u201d<\/p>\n<p dir=\"ltr\" lang=\"en\">A Brampton detached just sold for nearly $600,000 less than its 2022 purchase price.<\/p>\n<p>\ud83d\udd39 Purchased Feb 2022: $1.66M<br \/>\ud83d\udd39 Sold May 2026: $1.073M<br \/>\ud83d\udd39 Roughly a $587K loss before fees, taxes, and carrying costs<\/p>\n<p>The owners tried to hold on.<\/p>\n<p>The market kept saying no.<\/p>\n<p>First at\u2026 <a href=\"https:\/\/t.co\/SucoZAdj48\" rel=\"nofollow\">pic.twitter.com\/SucoZAdj48<\/a><\/p>\n<p>\u2014 Shazi (@ShaziGoalie) <a href=\"https:\/\/x.com\/ShaziGoalie\/status\/2060382030240575912?ref_src=twsrc%5Etfw\" rel=\"nofollow\">May 29, 2026<\/a><\/p>\n<p>The home was first sold in 2017 for $765,000, and traded hands again the next year for $760,000. Then in 2022, the home sold for $1,660,000. It was listed for sale at $1,325,000 in February, then reduced to $1,239,000 in April before selling for $1,072,999.<\/p>\n<p>Back in August, a home once bought for $1.3 million sold for $469,000 loss in Brampton, while another property bought for over $1.7 million sold at $520,000 loss.<\/p>\n<p>Data shows the number of delinquent mortgages in Ontario is up this year while Brampton has the highest rate in the country \u2013 more than twice the Canada-wide average.<\/p>\n<p>The numbers come from Equifax and show mortgage delinquencies jumping 52 per cent in Ontario during the first quarter of 2026, while delinquent payments have hit 0.64 per cent in Brampton.<\/p>\n<p>Pressures adding to the high rate of delinquent mortgages in Brampton include many homeowners renewing properties purchased during the pandemic era at significantly higher rates, declining home value and prices, rising unemployment, and homeowners who stretched affordability during the peak market.<\/p>\n<p>        <a href=\"https:\/\/www.insauga.com\/editorial-guidelines\" class=\"editorial-guidelines-link d-block mb-4\" rel=\"nofollow noopener\" target=\"_blank\"><br \/>\n            INsauga&#8217;s Editorial Standards and Policies        <\/a><\/p>\n<p>Last 30 Days: 50,528 Votes<\/p>\n<p>All Time: 1,362,883 Votes<\/p>\n<p>    1395 VOTES<br \/>\n    Do you think too many condos are being built compared to family-sized housing?    <\/p>\n<p>\tWIN A $100 GIFT CARD<\/p>\n<p>Subscribe to INsauga\u2019s daily email newsletter for a chance to win a $100 Amazon gift card.<\/p>\n<p>    <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"Another home which once sold for over $1.6 million in Brampton has been sold at a loss of&hellip;\n","protected":false},"author":2,"featured_media":702466,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[194339],"tags":[51759,49,48],"class_list":["post-702465","post","type-post","status-publish","format-standard","has-post-thumbnail","category-brampton","tag-brampton","tag-ca","tag-canada"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/702465","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=702465"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/702465\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/702466"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=702465"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=702465"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=702465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}