Mississauga House Trends Report September 2016, Erindale Park 1695 Dundas Street West. According to the Toronto Real Estate Board strong sales growth continued in August, with an adjusted 13% sales volume increase over August last year. The MLS Home Price Index (HPI) was up 17.2% for August over last year. The average house price was up 17.7% over the same period.
TREB attributes the record setting year for local Real Estate Market is due to high population growth in the entire GTA coupled with a strong regional economy, growth in average earnings and low borrowing costs.
According to the recent TD Economics report – they report the Bank of Canada has a “Dovish” tone in statements on interest rates and TD has concerns over weaker-than-expected US second quarter performance.
In Mississauga, our local Ontario economy will benefit from the over 26,000 new jobs added to the Canadian economy in August. There was a healthy balance between Manufacturing and Service employment. In August , we have seen a continuation of low inventory and high demand leading to price increases and high competition between buyers wanting to purchase homes.
Mississauga – Sept 2016
- Average Days on market (DOM) 18 days
- Average Sale Price to List Price (SP/LP) 1%
- Sales to New Listings Ratio (SNLR) 1% – shows a strong sellers’ market
September House Prices
- Detached $964,002
- Semi-Detached $637,780
- Condo TH $482,809
- Condo Apt $417,000
- Link $657,956
- Freehold TH $627,027
- Total $710,410
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Scott Brubacher Real Estate Broker – Royal LePage Meadowtowne Realty Brokerage 905-821-3200 www.mississaugahomedaily.com is a daily blog review of new listings in Mississauga Including Erin Mills, Streetsville, Meadowvale, Lisgar, Churchill Meadows, East Credit, Creditview and Meadowvale Village by Streetsville Real Estate Agent Scott Brubacher