ANDRE  STERNICZUK

ANDRE STERNICZUK

Sales Representative

Royal LePage Realty Centre, Brokerage *

Office:
905-279-8300
Email Me

November Real Estate Market Update

Hello! Here is the November 2019 real estate market update

 

Mississauga and GTA real estate market was very active in October 2019.

Number of sales went up by 14.0%!!! comparing to October 2018.

The average home price increased by 5.5%

Sales of all types of homes increased except for semi-detached category in 416 area.

The biggest increase in sales was in townhouse category (25.5%) in 416 area.

Number of active listings decreased by 18.8% in comparison to October 2018.

Number of new listings decreased by 9.6%


 

The number of sales in Mississauga and GTA in October 2019 went up comparing to October 2018. The average home price increased by 5.5% comparing to October of last year, and in terms of dollars it was over $44,600 higher!!! The average home price comparing to previous month went up by over $9,000.

 

 

~                    T h i s   M o n t h                    ~

 

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

 

GTA Realtors® Release October 2019 Stats

TORONTO, November 5, 2019 – Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 8,491 residential sales through TREB’s MLS® System in October 2019. This result represented a 14 per cent increase compared to 7,448 sales reported in October 2018. GTA-wide, sales were up on a year-over-year basis for all major home types.

“A strong regional economy obviously fuels population growth. All of these new households need a place to live and many have the goal of purchasing a home. The problem is that the supply of available listings is actually dropping, resulting in tighter market conditions and accelerating price growth,” said Mr. Collins.

The trend of annual growth in sales versus annual decline in new listings continued in October 2019, with new listings down by 9.6 per cent compared to October 2018. The resulting tighter market conditions compared to a year ago resulted in positive annual rates of price growth across all major market segments, from a GTA-wide perspective.

The MLS® Home Price Index Composite Benchmark was up by 5.8 per cent on a year-over-year basis in October 2019 – the strongest annual rate of growth since December 2017. The average selling price for all home types combined was up by 5.5 per cent to $852,142, compared to $807,538 in October 2018.

“As market conditions in the GTA have steadily tightened throughout 2019, we have seen an acceleration in the annual rate of price growth. While the current pace of price growth remains moderate, we will likely see stronger price growth moving forward if sales growth continues to outpace listings growth, leading to more competition between home buyers,” said Jason Mercer, TREB’s Chief Market Analyst. 

Source: Market Watch, TREB

Mississauga  & GTA Home Sales

October 2018 - October 2019 Comparison

  

Average home price was up by over $44,600, number of sales was up by over 1,000 units,

time to sell a home was 1 day shorter.

Mississauga & GTA Home Sales

 

September 2019 - October 2019 Comparison

 

  

Average home price was higer by over $9,000, number of home sales was higher by 666 units,

time to sell was the same as previous mounth.

Current Interest Rates

 

Terms

Posted Rates

Discounted Rates

6 MONTHS

3.34%

3.30%

1 YEAR

3.59%

2.69%

2 YEARS

3.74%

 2.69%

3 YEARS

3.89%

 2.69%

4 YEARS

3.94%

 2.69%

5 YEARS

5.34%

 2.79%

7 YEARS

5.80%

2.99%

10 YEARS

6.10%

3.04%

Variable

 

2.90% (closed)

Prime

3.95%

 

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

 

Quote of the Month

An optimist may see a light where there is none, 

but why must the pessimist always run to blow it out?

Michel De Saint-Pierre ~          

 

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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