Moving Forward – Indeed it’s hard to believe June is going by so fast and summer is just around the corner. So far this year real estate sales picked momentum in the GTA, from the lackluster days of January. At that time there was a lot of uncertainty in the Mississauga Real Estate market. Namely, housing affordability, anticipation of further rate hikes, the war in Ukraine, and higher cost of living due to inflation in both Mississauga and the GTA. Mississauga House Price Report by Scott Brubacher June 2023
Since then, buyers have come back into the market. The one thing holding back more sales has been the overall lack of inventory.
My prediction for the next few months; we will see a more traditional summer market where families take vacations, and the number of real estate transactions slow down. For that reason August is referred to as the “dog days of summer” Typically we see house sale volumes pickup in September with more buyers and sellers and the second spring market.
My summer vacation and weekend warrior plans are for boating adventure’s with my family and friends. We love Parry Sound and when not working you’ll find us on the waters of Georgian Bay or camping in some of Ontario’s provincial parks. Feel free to reach out if you want to know what your home is worth in this market or can’t find what you’re looking for to buy. I’ve got a great network I’m always available for a chat.
Enjoy your summer and be safe!
GTA Market Snapshot ~ May 2023 Results
Every month we track real estate sales trends and data in the GTA. Here are the leading indicators. The GTA market includes Halton, Peel, York, Toronto and Durham. We can also provide you with data from any market in Ontario that you’re interested in.
2023 January to May ~ Price Appreciation at a Glance
Looking at the overall GTA market & all home types, here’s what happened in May compared to April.
Here’s what happened with Freehold;
- There were 8733 sales – up 18% over the previous month
- Average Days on Market 14 – down from 16 days
- 75% of all GTA areas had more sales
- 60% saw an increase in average sale price
- Overall average price moves upward by 2.3% to $1,207,612
- 62% of sales sold at or above asking price
- Current # of months of inventory for sale: 1.5
Here’s what happened with condo apartments;
- There were 2516 sales – up 21% over the previous month
- Average Days on Market 19 – down from 22 days
- 60% of all GTA areas had more sales
- 62% saw an increase in average sale price
- Overall average price moves upward by 2.4% to $755,186
- 45% of condo sales sold at or above asking price
- Current # of months of inventory for sale: 2.2
The value of a referral Mississauga Real Estate
Mississauga Real Estate House Price Report by Scott Brubacher June 2023
All House Types in Mississauga Average Prices
- Detached: $1,620,829
- Semidetached: $1,132,822
- Free-hold TH: $1,172,076
- Condo TH: $868,034
- Condo Apt: $635,856
- Link: $1,250,000
- Average Mississauga Real Estate: $1,140,328
Average House Prices in surrounding Municipalities
- Oakville Real Estate: $1,554,259
- Milton Real Estate: $1,117,530
- Toronto Real Estate: $1,543,616
- Brampton Real Estate: $1,111,067
Mississauga House Price Report by Scott Brubacher June 2023
COMING SOON!
We will be discussing things such as
Where to move?
What to do with all your stuff?
What will we leave behind?
Overcome the Overwhelm – The Sandwich Generation
Plus bonus profiles of the best places to retire – South Georgian Bay, Lake Simcoe, Kingston & The Niagara Region
For a sample of what to expect click here
Mississauga House Price Report by Scott Brubacher June 2023
Pros and Cons of Living in Mississauga
