ANDRE  STERNICZUK

ANDRE STERNICZUK

Sales Representative

Royal LePage Realty Centre, Brokerage *

Office:
905-279-8300
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December 2021 Real Estate Market Update

Hello! Here is the December 2021 real estate market update

Mississauga and GTA real estate market in November 2021 was more active than in November of 2020, but less active than in previous month. This is normal seasonal change.The number of sales could probably be higher but there was not enough homes for sale.

Number of sales in November 2021 was 3.3% higher than in November 2020. 

The average home price increased by 21.7%!!! comparing to November 2020.

Sales in 416 area were lower in freehold categories but higher in condo townhouse and condo apartment categories. Sales in 905 area were lower in all categories except for condo apartments.

The biggest dip (-15.8%!!) in sales was in semi-detached category, in 416 area.

The highest jump (44.3%!!!) in sales was in condo apartments category in 416 area.

 

Please have a look below

Source: Market Watch, TRREB

The number of sales in Mississauga and GTA continued to be high. The average home price increased by 21.7%!!! comparing to November of last year, and in terms of dollars it was over $207,000 higher!!! 

The average home price, comparing to previous month went up by only about $8,000.

Please have a look below.

Source: Market Watch, TRREB

It looks like, despite COVID-19, the real estate market is very strong and the average price keeps going up. 

The fixed discounted mortgage interst rates went up by about 0.5%!!! although the variable rates dropped a bit.

 

~                    T h i s   M o n t h                    ~

 

  • Mississauga & GTA Real Estate Market Watch
  • Current Interest Rates

 

GTA Realtors® Release November 2021 Stats

TORONTO, ONTARIO, December 3, 2021 – Home sales reached a new record for the month of November and the average selling price also reached a new all-time high. New listings were down substantially compared to last year for all market segments – further highlighting the inherent supply issue across all home types in the Greater Toronto Area (GTA).

GTA REALTORS® reported 9,017 home sales through TRREB’s MLS® System in November 2021 – 3.3 per cent above the November 2020 result, setting a new record. In contrast, new listings were down by 13.2 per cent year-over-year, with double-digit declines for low-rise home types, and condominium apartments.

“Governments at all levels must take coordinated action to increase supply in the immediate term to begin addressing the supply challenges of today, and to work towards satisfying growing demand in the future. The GTA remains the primary destination for new immigrants, and is at the centre of the Canadian economy. For far too long governments have focused on short term bandaid policies to artificially suppress demand. Current market activity highlights decisively that these policies do not work, and unless governments work together to cut red tape, streamline the approval processes, and incentivize mid-density housing ongoing housing affordability challenges will escalate. On this point, we commend the City of Toronto for moving forward with initiatives to facilitate the creation of more mid-density home types, including their current consultations on options to encourage more multiplex development across the city,” said TRREB President Kevin Crigger.

The MLS® Home Price Index composite benchmark was up by 28.3 per cent year-over-year in November 2021. The average selling price for all home types combined was $1,163,323 – up by 21.7 per cent compared to November 2020.

“A key difference this year compared to last is how the condo segment continues to tighten and experience an acceleration in price growth, particularly in suburban areas. This speaks to the broadening of economic recovery, with first-time buyers moving back into the market in a big way this year. The condo and townhouse segments, with lower price points on average, will remain popular as population growth picks up over the next two years,” said TRREB Chief Market Analyst Jason Mercer.

Source: Market Watch, TRREB

 

Mississauga  & GTA Home Sales

November 2020 - November 2021 Comparison

  

Average home price was up by almost $207,000!!!, number of sales was up by 289 units, time to sell a home was 10 days shorter.

Mississauga & GTA Home Sales

 

October 2021 - November 2021 Comparison

 

  

Average home price was higher by almost $8,000, number of home sales was lower by almost 770 units, time to sell was exactly the same - 18 days.

Current Interest Rates

 

Rates quoted by Invis Canada are subject to change upor down↓ without notice.

 

Quote of the Month

Being willing to change allows you to move from point of view to a viewing point - a higher, more expansive place, from which you can see both sides. 

                                                                                        Thomas Crum ~           

 

Sales and Average Price Up in Calendar Year 2013

January 6, 2014 – Greater Toronto Area REALTORS® reported 4,078 residential

transactions through the TorontoMLS system in December 2013 – up by almost 14 per cent

compared to 3,582 sales reported in December 2012. New listings entered into the

TorontoMLS system were down by almost four per cent over the same period.

Total sales for calendar year 2013, at 87,111, were up by approximately two per cent

compared to 85,496 transactions in calendar year 2012.

“After a slow start to the year, sales growth accelerated to a brisk pace in the second half

of 2013. Despite the inclement weather in December, we finished the year with a

respectable gain in transactions compared to 2012. Looking forward, I believe that home

ownership in the GTA will remain affordable as borrowing costs stay low. The result could

be a further increase in sales in 2014,” said Toronto Real Estate Board President Dianne

Usher.

“The average selling price will be up again in 2014 and by more than the rate of inflation.

The seller’s market conditions that drove price growth in the second half of 2013 will

remain in place in many parts of the GTA. Some neighbourhoods, especially those

characterized by low-rise home types like singles, semis and townhomes, will continue to

have less than two months of inventory,” said Jason Mercer, TREB’s Senior Manager of

Market Analysis.

The average selling price for December 2013 sales was $520,398 – up by 8.9 per cent

compared to the average of $477,756 in December 2012.

The average selling price for 2013 as a whole was $523,036, which represented an increase

of 5.2 per cent compared to the calendar year 2012 average of $497,130.

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