ANDRE  STERNICZUK

ANDRE STERNICZUK

Sales Representative

Royal LePage Realty Centre, Brokerage *

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

Hello! Here is the November 2021 real estate market update

Mississauga and GTA real estate market in October 2021 was less active than in October of 2020, but a bit more active than in previous month. The number of sales could be much higher but there was not enough homes for sale.

Number of sales in October 2021 was 6.9% lower than in October 2020. 

The average home price increased by 19.3%!!! comparing to October 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 (-20.9%!!) in sales was in semi-detached category, in 905 area.

Sales were 33.7%!!! higher 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 19.3%!!! comparing to October of last year, and in terms of dollars it was almost $187,000 higher!!! The average home price, comparing to previous month went up by more than $19,000!

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 discounted mortgage interst rates remain steady and historically low.

~                    T h i s   M o n t h                    ~

 

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

 

GTA Realtors® Release October 2021 Stats

TORONTO, ONTARIO, November 3, 2021 – Home sales in the Greater Toronto Area (GTA) reached the second-highest level on record for the month of October. However, the inventory of homes for sale did not keep up with demand. The number of new listings was down by approximately one-third compared to October 2020. Market conditions tightened across all major home types compared to last year, and the annual rate of average price growth remained in the double digits, including for the resurgent condominium apartment segment.

“The only sustainable way to address housing affordability in the GTA is to deal with the persistent mismatch between demand and supply. Demand isn’t going away. And that’s why all three levels of government need to focus on supply. The federal government has stated that collaboration with provinces and municipalities is required. This collaboration could be spearheaded, at least in part, with housing-related incentives tied to federal infrastructure investment,” said TRREB President Kevin Crigger.

GTA REALTORS® reported 9,783 sales through TRREB’s MLS® System in October 2021 – down by 6.9 per cent compared to the October 2020 record of 10,503. A strong double-digit increase in condominium apartment sales mitigated annual declines in low-rise home sales. The number of new listings entered into the system was down by almost a third over the same period, with consistent declines across all major home types.

The MLS® Home Price Index Composite Benchmark was up by 24.2 per cent year-over-year. The average selling price for all homes combined rose by 19.3 per cent year-over-year to $1,155,345. The low-rise market continued to drive price growth in October, but the annual price growth for condominium apartments was in the double digits as well.

“The tight market conditions across all market segments and areas of the GTA is testament to the broadening scope of economic recovery in the region and household confidence that this recovery will continue. A key part of future economic development in the GTA will be the ability to provide adequate ownership and rental housing supply so that people can continue to move to the region to live, work and spend money in the local economy,” said TRREB Chief Market Analyst Jason Mercer.

Source: Market Watch, TRREB

 

Mississauga  & GTA Home Sales

October 2020 - October 2021 Comparison

  

Average home price was up by almost $187,000!!!, number of sales was down by over 700 units, time to sell a home was 6 days shorter.

Mississauga & GTA Home Sales

 

September 2021 - October 2021 Comparison

 

  

Average home price was higher by over $19,000, number of home sales was higher by almost 740 units, time to sell was shorter by 1 day.

Current Interest Rates

 

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

 

Quote of the Month

People can't live with change if there's not a changeless core inside them. The key to the ability to change is a changeless sense of who you are, what you are about and what you value. 

                                                                                        Stephen R. Covey ~           

 

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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