Mississauga House Trends Report December 2016
According to the Toronto Real Estate Board strong sales growth continued in November, with an adjusted 16.5% sales volume increase over October last year. The MLS Home Price Index (HPI) was up 20.3% for November over last year. The average house price was up 22.7% over the same period. Mississauga House Trends Report December 2016
Mississauga House Trends Report December 2016 Video
Low Inventory of Mississauga Homes for sale
In Mississauga, low inventory of homes for sale continues to drive strong home price increases. All home types have been in high demand including Detached, semi-detached, Condo Town Homes and Condo Apartments. Mississauga Real estate has been good investment.
Residential Investment Properies
In many cases domestic home owners are taking out Home equity Line of Credit loans on their primary residences to fund the purchase of a second residential property as rental income. Thus they compete with first time home buyers and move up home buyers. The result is low inventory of homes for sale. Further homes are going into multiple offers situations. Buyers are getting fatigue and many are now deciding to not compete in multiple offer situations.
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Mississauga House Prices December 2016
- Average Days on market (DOM) 16 days
- Average Sale Price to List Price (SP/LP) 101 %
- Sales to New Listings Ratio (SNLR) 8% – shows a strong sellers’ market
- Detached $1,065,387
- Semi-Detached $666,809
- Condo TH $497,259
- Condo Apt $340,172
- Link $715,840
- Freehold TH $614,652
- Total $658,925
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Scott Brubacher Real Estate Broker – Royal LePage Meadowtowne Realty Brokerage 905-821-3200 www.mississaugahomedaily.com