ANDRE  STERNICZUK

ANDRE STERNICZUK

Sales Representative

Royal LePage Realty Centre, Brokerage *

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

Hello! Here is the October 2021 real estate market update

Mississauga and GTA real estate market in September 2021 was less active than in September 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 September 2021 was 18.0% lower than in September 2020. 

The average home price increased by 18.3%!!! comparing to September 2020.

Sales were lower in all categories except for condo apartments.The biggest dip (-31.1%!!!) in sales was in detached category, in 905 area.

Sales were 16.0 % 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 18.3%!!! comparing to September of last year, and in terms of dollars it was almost $176,000 higher!!! The average home price, comparing to previous month went up by more than $65,000!!

Please have a look below.

Source: Market Watch, TRREB

It looks like, despite COVID-19, the real estate market is very strong and average price has keeps going up. The discounted mortgage interst rates remain steady and historically low, but ... the posted rates quietly went up. The posted interest rate increases are ranging from 0.45% to 1.30% depending on the term lengths. 

~                    T h i s   M o n t h                    ~

 

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

 

GTA Realtors® Release September 2021 Stats

TORONTO, ONTARIO, October 5, 2021 – September marked the transition from the slower summer market to the busier fall market in the in the Greater Toronto Area (GTA). Every year, we generally see an uptick in sales, average selling price and listings after Labour Day, and September 2021 was no different. Sales increased relative to August and were also at the third-highest mark on record for the month of September. The average selling price was up both month-over-month and year-over-year.

GTA REALTORS® reported 9,046 sales through TRREB’s MLS® System in September 2021 – up in line with the regular seasonal trend from August. Compared to last year, market conditions tightened noticeably, with sales representing a substantially higher share of listings, and a significantly lower number of new listings across the board. Resurgence in the condo market was a factor in the higher share of listings sold. The total number of sales was down 18 per cent from 2020’s record September result, in large part due to the lower number of new listings, which were down 34 per cent from the same time last year.

“Demand has remained incredibly robust throughout September with many qualified buyers who would buy a home tomorrow provided they could find a suitable property. With new listings in September down by one third compared to last year, purchasing a home for many is easier said than done. The lack of housing supply and choice has reached a critical juncture. Bandaid policies to artificially suppress demand have not been effective. This is not an issue that can be solved by one level of government alone. There needs to be collaboration federally, provincially, and locally on a solution,” said Kevin Crigger, TRREB President.

The MLS® Home Price Index Composite Benchmark was up by 19.1 per cent year-over-year in September 2021. The average selling price for all home types combined was up by 18.3 per cent year-over-year to $1,136,280.

“Price growth in September continued to be driven by the low-rise market segments, including detached and semidetached houses and townhouses. However, competition between buyers for condo apartments has picked up markedly over the past year, which has led to an acceleration in price growth over the past few months as first-time buyers reentered the ownership market. Look for this trend to continue,” said Jason Mercer, TRREB Chief Market Analyst.

Source: Market Watch, TRREB

 

Mississauga  & GTA Home Sales

September 2020 - September 2021 Comparison

  

Average home price was up by almost $176,000!!!, number of sales was down by almost 2,000 units, time to sell a home was 3 days shorter.

Mississauga & GTA Home Sales

 

August 2021 - September 2021 Comparison

 

  

Average home price was higher by over $65,000, number of home sales was higher by just 450 units, time to sell was longer by 2 days.

Current Interest Rates

 

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

 

Quote of the Month

To put the world in order, we must put the nation in order;

to put the nation in order, we must put the family in order;

to put the family in order, we must cultivate our personal life;

and to cultivate our personal life, we must set our hearts right.

                                                                                        Confucius ~           

 

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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