Mississauga Homes Daily – May 13, 2016 – Mississauga Ontario Mississauga House Trends report – May 2016 is a review of Mississauga house prices and trends in Real Estate.
According to the Toronto Real Estate Board April 2016 was another record month for home sales volume across the GTA, an increase of 7.4% over the same month in 2015. TREB pointed out that a “lack of inventory” along with the “increased sales volume” has led to robust price growth of 12.6% HPI (home price index). This represents a seller’s market. Many Toronto “416” residents are not selling due to the second Toronto land transfer tax. A Strong competition between buyers will continue to push home prices higher across the GTA.
According to the April – Royal LePage “House Price Survey” – there is a “redistribution of Canada’s workforce” with many workers coming to the GTA from other provinces to find jobs.
In Mississauga many homes are selling with multiple offers. Toronto buyers are relocating into Mississauga to avoid the second “Toronto Land Transfer Tax” and take advantage of lower average house prices in Mississauga than Toronto.
- Mississauga – April 2016
- Average Days on Market(DOM) 15 days
- Average SP to LP(SP/LP) 101.8%
- Sale to new Listing Ration(SNLR) 74.6%
- Q1 House Prices in Mississauga:
- Detached $966,468
- Semi-Detached $610,651
- Condo TH $433,858
- Link $637,199
- Condo Apt $302,199
- Freehold TH $608,288
- Total Avg. $654,819 -ScottScott Brubacher Real Estate Broker Royal LePage Meadowtowne Realty Brokerage
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