ANDRE  STERNICZUK

ANDRE STERNICZUK

Sales Representative

Royal LePage Realty Centre, Brokerage *

Office:
905-279-8300
Email Me

July 2020 Real Estate Market Update

Hello! Here is the July 2020 real estate market update

Mississauga and GTA real estate market in June 2020, despite Covid-19 pandemic was much more active than in May 2020,and almost the same as June 2019. 

Number of sales was down by only 125 units which is excellent considering pandemic situation!

The average home price increased by 11.9% comparing to June 2019.

Sales of homes were mixed and depended on category.

The biggest decrease in sales was in condo category (22.3%) in 905 area.

The biggest increase in sales was in detached category (10.4%) in 905 area.

Number of active listings decreased by 28.8% in comparison to June 2019.

Number of new listings increased by 2.1%

Please have a look below

Source: Market Watch, TRREB

The number of sales in Mississauga and GTA in June 2020 was almost the same  comparing to June 2019. The average home price still increased by 11.9%!!! comparing to June of last year, and in terms of dollars it was almost $99,000 higher!!! The average home price, comparing to previous month went up by over $67,000.   

It looks like, despite COVID-19 pandemic, the real estate market is getting stronger. The job market is slowly recovering as well. The mortgage interst rates inched down and are historically low! June 2020 avarege home price exceded average price from 2017 which was the highest on record.

 

~                    T h i s   M o n t h                    ~

 

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

 

GTA Realtors® Release June 2020 Stats

TORONTO, ONTARIO, July 7, 2020 - Toronto Regional Real Estate Board President Lisa Patel announced that Greater Toronto Area REALTORS® reported 8,701 sales through TRREB's MLS® System in June 2020. This result represented a very substantial increase over the May 2020 sales result, both on an actual (+89 per cent) and seasonally adjusted basis (+84 per cent), and was only down by 1.4 per cent compared to June 2019.

Year-over-year growth in sales was reported in some areas and market segments. Especially notable were the detached and townhouse market segments in the GTA regions surrounding the City of Toronto.

New listings were up slightly on a year-over-year basis by 2.1 per cent. However, active listings on TRREB's MLS® System at the end of June 2020 were down by 28.8 per cent compared to June 2019. Growth in new listings will need to outstrip growth in sales for a number of months before active listings approach last year's levels.

The MLS® Home Price Index Composite Benchmark was up by 8.2 per cent year-over-year in June. The average selling price for all home types combined was $930,869 - up by 11.9 per cent compared to June 2019. The actual and seasonally-adjusted average selling price was also up substantially compared to May 2020, by 7.8 per cent and 9.8 per cent respectively.

Average and benchmark selling prices were up year-over-year for all major home types. The strongest average annual rates of price growth were experienced in the detached and semi-detached market segments in the City of Toronto at 14.3 per cent and 22 per cent respectively. This, coupled with the fact that average selling price growth outstripped growth in the MLS® HPI benchmarks, points to a resurgence in the higher-end market segments.

Source: Market Watch, TRREB

 

Mississauga  & GTA Home Sales

June 2019 - June 2020 Comparison

  

Average home price was up by almost $99,000, number of sales was down by only 125 units, time to sell a home was 4 days shorter.

Mississauga & GTA Home Sales

 

May 2020 - June 2020 Comparison

 

  

Average home price was higher by over $67,000, number of home sales was higher by over 4,000 units, time to sell was shorter by 6 days.

Current Interest Rates

 

Terms

Posted Rates

Discounted Rates

6 MONTHS

3.75%

3.30%

1 YEAR

3.19%↓

2.24%↓

2 YEARS

3.29%↓

 2.24%↓

3 YEARS

3.89%

 2.14%↓

4 YEARS

4.19%

 2.24%↓

5 YEARS

4.94%↓

 2.19%↓

7 YEARS

5.49%↓

2.99%↓

10 YEARS

5.99%↓

3.19%↓

Variable

 

1.98% (closed)↓

Prime

2.45%

 

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

 

Quote of the Month

I've learned from experience that the greater part of our happiness or misery depends on our dispositions and not on our circumstances.

                                                                                                  ~ Martha Washington ~           

 

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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