A new housing report reveals where homes sold for the lowest (and highest) prices in the Greater Toronto Area last month.

Prices are down compared to this time last year. The average selling price dropped 6.5 per cent in January to $973,289, according to the latest report from the Toronto Regional Real Estate Board.

But not all GTA neighbourhoods are equal.

Each month, real estate platform Wahi lists neighbourhoods with the most and least expensive homes. Wahi used the median home sale prices in GTA neighbourhoods with five or more sales in January to create the lists. Last month, the least expensive neighbourhoods were in areas with large concentrations of condo buildings, including central Mississauga.

Flemingdon Park in North York tops the list with a median sold price of $350,000. Five units were sold here in January, and it took an average of 45 days to sell homes.

Trendy Liberty Village was second with a median sold price of $470,500. A total of 11 homes were sold, and it took an average of 69 days to sell units.

Core Mississauga is third on the list with a median sold price of $480,000. Mississauga had the most units sold on this list, with 37 units sold last month. There were 291 active listings, compared to 69 in Liberty Village and 53 in Flemingdon Park.

Topping the list is Eastlake in Oakville, which is known for high-end custom homes and large, private lots. The median sold price was $2,615,000 in January. There were seven homes were sold here last month, and it took an average of 73 days to sell.

York Mills in North York was second with a median sold price of $2,000,000. Six properties were sold here, and it took an average of 65 days to sell. King was third with a median sold price of $1,825,000. Nine units were sold here, and it took an average of 108 days to sell.