Mississauga Real Estate – According to the Toronto Real Estate Board market watch report released in June 2018, across the GTA, the number of sales was down by 22.2% since the same time last year. Moreover at the same time, the number of new listing decreased by 26.2%. Mississauga House Price Report June 2018
In Mississauga supply of homes available for sale continues to be an issue.
- Indeed, the key indicator we use to read the market is the sales to new listing ratio (SNLR) and its right in the middle of a balanced market at 50.2%
- According to a recent report there are over 5 Million empty bedrooms in the GTA. Specifically, the baby boomers are empty- nester’s. Until now they are still living in the family home. So far there is no good alternative for a whole generation to downsize in the GTA. In the meantime, the “missing middle” refers to the gap in housing policy in Ontario which has focused on building detached homes and Condo apartments.
- To be sure, house prices are on the rise due to lower inventory coming on the market.
Mississauga House Price Report
Baby Boomers are empty-nesters and over 5 Millions empty bedrooms in the GTA
Mississauga House Prices reported in May 2018
Avg. house price Mississauga Toronto Milton
(All home types) $ 726897 $ 861970 $ 721718
o Average Days on market (DOM) 19 days
o Average Sale Price to List Price (SP/LP) 98%
o Sales to New Listings Ratio (SNLR) 50.2%
June 2018 All House Types in Mississauga Average House Prices
Mississauga House prices
Detached $1090069
Semi-Detached $ 721379
Condo TH $ 560824
Condo Apt $ 434915
Link $ 737167
Freehold TH $ 682234
Total Average $ 726897
In conclusion the story in Mississauga and the GTA, there continues to be a low supply of housing, with fewer new listings coming onto the market to meet buyer demand.
Mississauga House Price Report June 2018 Video
Altogether we are here to help! Call me. –Scott (O) 905-821-3200 © 647-223-0237