I hope you find the Mississauga House Trends Report July 2016 informative – reported from Memorial Park on the Credit River –
Mississauga House Trends Report July 2016 Video
According to the Toronto Real Estate Board July 2016, Strong sales growth continued in June, with a 7.5% sales volume increase over June last year. The board stated that listing were down 3.8% over the same period, which continues the sellers’ market and many buyers finding themselves competing to purchase a home. This shortage of listings has led to rapid price increases across the GTA and Mississauga with the MLS Home price Index up 16.8% over June 2015.
The continued lack of new listings has many home buyers unable to find a suitable home to purchase. In many cases homes prices are increasing faster than buyers can save. According to the recent TD Housing report, the bank prediction is that over the second half of 2016 the GTA housing market will moderate in resale activity and price growth, due to more supply and increased and “stretched” home buyers affordability. They note that bond yields will also increase, which may lead to higher interest rates.
In Mississauga , in June, we have seen a continuation of low inventory and high demand leading to price increases. This area has experienced high immigration and foreign investment. This is especially hard for first time home buyers, who experience high competition to purchase.
Mississauga House Prices – July 2016
- Average Days on market (DOM) 15 days
- Average Sale Price to List Price (SP/LP) 102.4%
- Sales to New Listings Ratio (SNLR) 76.3% – shows a strong sellers’ market
June House Prices
- Detached $985,210
- Semi-Detached $613,770
- Condo TH $458,657
- Condo Apt $320,331
- Link $648,900
- Freehold TH $618,443
- Total $637,660
Thanks we are here to help! We hope you found this months Mississauga House Trends Report July 2016 informative and feel free to contact us with any questions.
Scott Brubacher Real Estate Broker – Royal LePage Meadowtowne Realty Brokerage 905-821-3200 www.mississaugahomedaily.com
Toronto Real Estate Board Market Watch report – Mississauga Homes Daily is a daily review of new listings and Mississauga Homes for sale including – Streetsville, Erin Mills, Meadowvale, Lisgar, East Credit, Creditview, Churchill Meadows, Meadowvale Village