ANDRE  STERNICZUK

ANDRE STERNICZUK

Sales Representative

Royal LePage Realty Centre, Brokerage *

Office:
905-279-8300
Email Me

October Real Estate Market Update

Hello! Here is the October 2019 real estate market update

 

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

Number of sales went up by 22.0%!!! comparing to September 2018.

The average home price increased by 5.8%

Sales of all types of homes increased.

The biggest increase in sales was in detached category (37.9%) in 416 area.

Number of active listings decreased by 14.1% in comparison to September 2018.

Number of new listings decreased by 1.9%


 

The number of sales in September 2019 went up comparing to September 2018. The average home price increased by 5.8% comparing to September of last year, and in terms of dollars it was over $46,300 higher!!! The average home price comparing to previous month went up by over $50,500!!!

 

 

~                    T h i s   M o n t h                    ~

 

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

 

GTA Realtors® Release September 2019 Stats

TORONTO, October 3, 2019 - Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 7,825 sales through TREB’s MLS® System in September 2019. This result represented strong year-over-year sales growth of 22 per cent compared to 6,414 sales reported in September 2018. It is important to note, however, that sales remain well-below the record September 2016 peak of more than 9,800 sales.

On a preliminary seasonally adjusted basis, the September 2019 sales level remained in virtually the same as the August 2019 result. 

The supply of listings continued to be a concern in September 2019, with new listings down by 1.9 per cent year-over-year to 15,611. We have experienced multiple months this year wherein the annual rate of sales growth outpaced the annual rate of new listings growth, resulting in the overall number of active listings at month-end being well-below last year’s levels. This speaks to tightening market conditions and an accelerating annual rate of price growth. 

The annual rate of price growth in September reached the highest point so far in 2019. The MLS® Home Price Index (HPI) Composite Benchmark was up by 5.2 per cent on a year-over-year basis in September. The average selling price for all home types combined was up by a similar annual rate of 5.8 per cent to $843,115.

On a preliminary seasonally adjusted basis, the September 2019 average selling price was up by 1.2 per cent compared to August 2019.

 
Source: Market Watch, TREB

Mississauga  & GTA Home Sales

September 2018 - September 2019 Comparison

  

Average home price was up by over $46,300, number of sales was up by over 1,400 units,

time to sell a home was 3 days shorter.

Mississauga & GTA Home Sales

 

August 2019 - September 2019 Comparison

 

  

Average home price was higer by over $50,500!!!, number of home sales was higher by 114 units,

time to sell was 2 days shorter.

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%

 2.64%

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

You've got to sing like you don't need the money. You've got to love like you'll never get hurt. You've got to dance like there's nobody watching. You've got to come from the heart, if you want it to work.

~ Susanna Clark ~         

 

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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