According to the Toronto Real Estate Board strong sales growth continued in September, with an adjusted 11.5% sales volume increase over October last year. The MLS Home Price Index (HPI) was up 19.7% for October over last year. The average house price was up 21.1 % over the same period. Mississauga House Trends Report November 2016
House Price growth has been the news story for 2016 to date. In October new listings are up slightly but not enough to take make up for buyer demand for housing. The sellers’ market prevails with Sales to new listing ratio of 78.8% – anything over 45% show more buyers than sellers in the market.
First time buyers will get some relief with the recent Ontario Government announcement. They won’t pay the provincial Land Transfer Tax(LTT) on the first $368,000 of a purchase price and they will qualify for a $4000.00 rebate in the LTT. This is a minor tax incentive, but may help ease the burden facing many young families mostly the Millennials’.
In Mississauga, we are experiencing a boom in new Permanent residents settling in our neighbourhoods and buying Mississauga Real Estate. With over 300,000 newcomers to Canada – a record since 1913, demand for housing is outpacing new construction. There is no more Land Left to build on in the Greater Golden Horseshoe Region. Gain more Insight by reading my Blog – https://mississaugahomesdaily.com/whats-fueling-soaring-mississauga-house-prices/ . Mississauga House Trends Report November 2016
Mississauga House Trends Report November 2016 – Real Estate stats
- Average Days on market (DOM) 15 days
- Average Sale Price to List Price (SP/LP) 102 %
- Sales to New Listings Ratio (SNLR) 8 % – shows a strong sellers’ market
Mississauga House Prices November 2016
- Detached $1,009,971
- Semi-Detached $649,991
- Condo TH $483,830
- Condo Apt $332,860
- Link $732,636
- Freehold TH $678,412
- Total $650,290
Thanks we are here to help! Call me.
Scott Brubacher Real Estate Broker – Royal LePage Meadowtowne Realty Brokerage 905-821-3200 www.mississaugahomedaily.com