Mississauga House Trends Report for June 2016 – Mississauga Ontario – here is Real Estate information in this months report, call me with any questions.According to the Toronto Real Estate Board June 2016, Strong sales growth continued in May, with a record month and 10.6% volume increase over May last year. The board stated that listing were down 6.4% over the same period, which has led to 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 15% over May 2015.
Many would be home buyers are finding it hard to save as fast as home prices are increasing and home purchase is less affordable. The Greater Toronto area is in Gridlock for residential home sales, due to land constraints’ and fast population growth – Buyers are moving up into Condo Apartments and outside of the GTA region to find affordable housing – Sellers won’t sell until they buy first and are having trouble finding a suitable house. This according to TD Bank – Chief Economic analyst Beata Caranci – many current home owners are deciding to stay and renovate which is fueling a red hot business for renovators and contractors.
In Mississauga we have been seeing many homes selling with multiple offers again in May and buyers coming to Mississauga from Toronto to find more affordable housing and benefit from the amenities that Mississauga has to offer growing families. I’m seeing a movement with the baby boomer generation. Many are experiencing adult children leaving the family home and deciding to downsize or move outside the GTA.
Mississauga House Trends Report for June 2016
- Average Days on market (DOM) 15 days
- Average Sale Price to List Price (SP/LP) 7%
- Sales to New Listings Ratio (SNLR) 5% – shows a strong sellers’ market
June House Prices
- Detached $973,179
- Semi-Detached $611,731
- Condo TH $446,376
- Condo Apt $313,364
- Link $691,592
- Freehold TH $604,263
- Total $653,861
Thanks we are here to help! Hope you enjoy this months Mississauga House Trends Report for June 2016 and find the Real estate information useful.
Check out a couple of my listings:
53 Joymar Drive Mississauga – SOLD
20 Ellen Street Mississauga – Exclusive Listing
-Scott
Scott Brubacher Real Estate Broker – Royal LePage Meadowtowne Realty Brokerage 905-821-3200 www.mississaugahomedaily.com
Mississauga Homes Daily -s a daily blog of Mississauga Homes for Sale including Streetsville, Erin Mills, Meadowvale, Lisgar, East Credit, Creditview, Meadowvale Village by Scott Brubacher Streetsville Real Estate Agent