Mississauga Real Estate – June 2020 by Scott Brubacher Broker
Notably across the GTA home buyers are back in the market. So much so we are back to similar housing conditions pre-COVID-19 which was very active. While sales are down by 53.7% (May 2019 to May 2020). Too were new listings also down. This according to the Toronto Real Estate Board. The COVID-19 emergency caused this slow down during March, April and May. Read on for more Mississauga House Price Report June 2020
Home Buyers are Back
In fact, as we move through June, we have seen a significant increase in showings (+121%), offers (+175%) and sold (+127%) over last month. Notably, the number of new listings has not met buyer demand. Resulting in lack of inventory for family style homes. Many buyers are competing and experiencing many multiple offer situations in the lower price ranges of the market.
As well in Mississauga, we are seeing weekly strengthening of showings, offers and new deals. So, it is shaping up to be a delayed but strong spring market for Mississauga Real Estate. Earlier this month, the Canadian Mortgage and Housing corporation announced changes designed to reduce the risk for future home buyers. It remains to be seen how this will impact the local housing market.
Mississauga House Prices reported in June 2020
Avg. house prices in all home types;
- Mississauga $ 796,577
- Toronto $ 863,599
- Milton $ 774,156
Mississauga Real Estate Average Prices
Detached $ 111,8835
Semi-Detached $ 795,856
Condo TH $ 631,185
Condo Apt $ 498,640
Link $ 834,000
Freehold TH $ 756,251
Total Average $ 796,577
In conclusion in the GTA and Mississauga real estate, we are experiencing a surge in the kind of buying activities that lead to more sales. While many sellers are waiting on the sidelines for COVID-19 to clear out. There are more buyers needing shelter and deciding to activity search homes for sale.
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Mississauga House Price Report June 2020 Video
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