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WHAT'S HAPPENING In this Issue: Real Estate Prices UP and Sales Volume UP - Mississauga and GTA Real Estate Newsletter December 2017 - Issue 12:08 Once again, last month was another very strong month for sales and prices in the GTA. TREB reports that the volume of sales was down but prices are up year over year.
See seasonal fluctuations in average prices As can be seen from the chart above, prices are still strong. Number of sales are down, but this could be due to reduced inventory. The Average Detached home in Toronto (not the GTA) is now $1.4 million dollars See the full report from TREB below.
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December 2017 News
The statistics for last month are out, the figures for previous month are out and average GTA sale price and volumes continue to be at or near all time highs, see this page for latest market stats and results from the previous month Mortgage Interest Rates - time to lock in? read more
The statistics for last month are out, the figures for previous moth are out and average GTA sale price and volumes continue to be at or near all time highs, see this page for latest market stats and results from the previous month Mortgage Interest Rates - time to lock in? read more
I hope this finds you healthy and happy! All the best, Mark You are reading the latest newsletter December News Report Last months Resale Housing Results Show Healthy Market! This is the latest monthly report for TREB for the average prices and the number of sales in previous month, both were very strong last month.Record number of Sales and Strong Prices for last monthPrices and Sales continue their strong growth last month Please refer to this page to see a graph of Average prices and More This is the full report from TREB This is the full price and data report from TREB for last monthGTA REALTORS® Release November Stats TORONTO, ONTARIO, December 5, 2017 – Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 7,374 transactions through TREB’s MLS® System in November 2017. This result was up compared to October 2017, bucking the regular seasonal trend. On a year-over-year basis, sales were down by 13.3 per cent compared to November 2016. New listings entered into TREB’s MLS® System in November 2017 amounted to 14,349 – up by 37.2 per cent compared to November 2016, when the supply of listings was very low from a historic perspective. “We have seen an uptick in demand for ownership housing in the GTA this fall, over and above the regular seasonal trend. Similar to the Greater Vancouver experience, the impact of the Ontario Fair Housing Plan and particularly the foreign buyer tax may be starting to wane. On top of this, it is also possible that the upcoming changes to mortgage lending guidelines, which come into effect in January, have prompted some households to speed up their home buying decision,” said Mr. Syrianos. The MLS® Home Price Index (HPI) composite benchmark price was up by 8.4 per cent on a year-over-year basis in November 2017. The average selling price for all home types combined was down by two per cent compared to November 2016, due in large part to a smaller share of detached home sales versus last year. On a year-to-date basis, the average selling price was up by 13.4 per cent compared to the same period last year. High density home types continued to lead the way in terms of price growth, with the average condominium apartment price up by double-digits compared to November 2016. “Changes in market conditions have not been uniform across market segments. In line with insights from consumer polling undertaken by Ipsos in the spring, we are still seeing seller’s market conditions for townhouses and condominium apartments in many neighbourhoods versus more balanced market conditions for detached and semi-detached houses. We will have more insights to share about consumer intentions for 2018 at the end of January when TREB releases its third annual Market Year in Review and Outlook report,” said Jason Mercer, TREB’s Director of Market Analysis. All the Best! Mark Where are mortgage rates heading? The Bank of Canada Prime Lending Rate steady at 2.70% read more A common question I frequently get is "where are mortgage rates heading?" While all we can do is speculate and anything can happen, we can always make predictions based on what tools we have available to us today. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FEATURE HOMES As of today, I have listings that you may be interested in and all the details and photos for them are located on my site at this listings page I have rental properties that are located at this page See More Homes for Sale and Rent Read more reports on the Greater Toronto Resale Housing Market Read the entire report at this page
Variable rates are now about Prime or just a little less at Prime MINUS about .1% to .2% or so, read more Mortgage interest rates have dropped slightly over the past month or so, due to the bank rate increase. Bank of Canada is predicting rates will not increase again for some time, maybe mid 2013, read more Any way you look at it, interest rates are at or near all time lows with bank prime at or near all time lows, , read more. Our market continues to perform very well, prices are up and sales volumes are good. There are a good number of homes currently for sale in Mississauga, we need good homes to sell! It will be interesting to see what the next few months bring as there seems to be a large amount of demand for properties in Mississauga and the GTA. I predict that it will be a very strong market with more properties coming on the market in the next month or two giving a slightly larger selection to buyers. Average prices will likely increase 2-5% over the next 2 months. Volume of sales will also increase every month in the next quarter, if you are thinking of buying now is the time to do it!. Given our very fine weather this winter that is expected to continue for the next while, my observations for the Mississauga marketplace is that we continue to see that prices continue to be strong and increase quite substantially in many areas over the next few months. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bank Prime Interest Rate dropped again and is now steady! You may wish to read about the Power of Sale section at my website that will show you the pitfalls to avoid and the clauses to put into your offer when you buy a Power of Sale property in Ontario. This new section will also explain Power of Sale and Foreclosure in detail. Read more here. Foreclosure and, Power of Sale Properties FAQ's You may sign up for Bank Sales and Power of Sales, Bank Sales and Foreclosure email notices. See a map showing Townhouse Complexes in Mississauga See a map showing Condos in Mississauga Map of Townhouses in Erin Mills ONLY Map of Townhouses in Churchill Meadows See a complete list of names of Condominium buildings in the GTA | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Read more about Sub-Prime Mortgages Read about the controversial Toronto Land Transfer Tax which is now Law Read more about our sales. Average prices for this time of year. Last month was another strong month for sales. Prices and sales volumes were high, read more | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
I have a few calendars left in hand. If you would like to receive one of my calendars, please fill in your information at this form and I would be happy to send you a calendar once they arrive! | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Last month Report for real estate sales figures are now out. Last month statistics are now in the books and the bottom line is Market Remains Strong! Listing inventories are low, so if you are thinking of selling, this is a good time to list your home. The market has been 'very good' for the past month or so and new listings are need. Would you like a Complimentary & Quick Over-The-Net Home Evaluation of your property? Price trends over the past 18 years indicate that prices will likely increase over the next month or so. It appears as if rates may hold steady for the short term. Many feel The Bank of Canada may hold the course in the near future on their current level , (Current Bank prime is shown here), so this should keep mortgage interest rates at their current levels. Average single family residential prices were UP compared to the previous month. This is typical for this time of year. Price trends over the past 18 years indicate that prices will likely increase over the next month or so. Last month was another very solid month to add to another banner year in real estate in the GTA. See graphs of the sales figures, read more See my MLS listings on Google Maps here I regularly add new articles to my blog I hope this finds you and yours happy and healthy! I wish you and your family all the best!
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If you would like more information or have any questions or suggestions, please email me at info@mississauga4sale.com | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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News and Real Estate.
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