Variable rates are now about Prime or just a little less at Prime MINUS about .1% to .5% or so, read more
Mortgage interest rates have fallen slightly "again" over
the past month or so, even though the bank rate has remained steady.
Any way you look at it, interest rates
are at or near all time lows with bank prime at 2.25% , read
Our market continues to do very well, prices are up and so are sales
volumes. There are very few homes currently for sale in Mississauga,
we need good homes to sell!
My observations for the Mississauga marketplace
is that we continue to see that prices continue to be strong and rising in many areas. Moderately of course, but still, they are rising.
It will be interesting
to see what the next quarter brings as the winter market is typically
a weaker marketplace. I predict that it will be a very strong winter
market, prices will escalate, but volume will be down due to low number
of listings on mls.
There are very few listings on the market and this would normally indicate that prices will continue to be very strong.
are reading the latest newsletter
November Resale Housing Results Brings More Positive News
This is the January 2010 report for TREB for
the average prices and the number of sales in previous month, both
were very strong last month.
TORONTO, January 6, 2010 -- Greater Toronto REALTORS® reported
87,308 MLS® transactions in 2009 – a 17 per cent increase
This result included 5,541 sales in December. The 2009
result was in line with the healthy levels of sales experienced between
2004 and 2006, but lower than the record of 93,193 set in 2007.
“After a slow start to the year, existing home
sales rebounded during the second half of 2009,” said TREB
President Tom Lebour. “As consumer confidence improved, many
households moved to take advantage of affordable home ownership opportunities
in the GTA.
The strong residential real estate sector was a key
contributor to overall economic recovery in Canada.”
The average home price in 2009 climbed four per cent
to $395,460. The average price for December transactions was $411,931.
“Market conditions became very tight in the latter
half of 2009. Sales climbed strongly relative to the number of homes
listed for sale, resulting in robust price growth that more than
offset average price declines in the winter,” said Jason Mercer,
TREB’s Senior Manager of Market Analysis. “A greater
supply of listings in 2010 will see home prices grow at a sustainable