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Wednesday, October 3, 2018


In this Issue:

Real Estate Prices UP and Sales Volume UP - Mississauga and GTA Real Estate Newsletter October 2018 - Issue 09:10

Once again, last month was another very strong month for sales and prices in the GTA.

October 2018 News
Greetings from Fabulous Mississauga!

  • The average selling price last month was $$796,786 (it was $765,270 the previous month) and it was up about 2.9% compared to previous same month last year - see graph of prices here

  • Greater Toronto Area REALTORS® reported 6,455 (it was 8,839 last month) residential sales through TREB’s MLS® System last month. This result represented a 1.9% increase compared to sales reported in the same month in 2017.

  • The MLS® Home Price Index (HPI) Composite Benchmark price was up 2.0% on a year-over-year basis.

  • The Bank Prime rate for most lenders now stands at 3.95% read more about Interest rates

  • The Bank of Canada Prime Lending Rate is the same as last month at 1.75% read more

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

TREB reports that the volume of sales and prices were down year over year. 

2018 Average Monthly Price
September $796,786
August $765,270
July $807,871
June $807,871
May $805,320
April $804,584
March $784,558
February $767,818
January $736,783
2017 Average Monthly Price
December $735,021
November $761,757
October $780,104
September $775,546
August $732,039
July $746,218
June $793,915
May $863,910
April 920,791
March 916,567
February 875,983
January 770,745
2016 Average Monthly Price
December 730,472
November 777,181
October 762,975
September 755,755
August 710,410
July 709,825
June 746,546
May 751,908
April 739,082
March 688,181
February 685,278
January 631,092


The average selling price for 2017 as a whole was $822,681 up 12.7 per cent compared to 2016

The overall average selling price for calendar year 2016 was $729,922 – up 17.3 per cent compared to 2015

The average selling price for 2015 was $622,217 up 9.8 per cent from 2014

Average selling price for 2014 was $566,726 and for 2013 was $523,036, which represented an increase of 8.4% compared to 2013 and a 5.2 per cent compared to the calendar year 2012 average of $497,130 - see graph of prices here


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.

See the full report from TREB below.

House prices continue to increase in 2017


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

Graph of Average Sales Prices in the GTA



October News Report

I hope this finds you healthy and happy!

All the best,


You are reading the latest newsletter

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 month

Prices 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 month

GTA REALTORS® Release Last Month Stats

GTA REALTORS® Release September Stats

TORONTO, ONTARIO, October 3, 2018 – Toronto Real Estate Board President Garry Bhaura announced that Greater Toronto Area REALTORS® reported 6,455 sales through TREB’s MLS® System in September 2018 – up 1.9 per cent compared to September 2017.

The average selling price for September 2018 sales was up by 2.9 per cent over the same period to $796,786.

The MLS® HPI composite benchmark price was up by two per cent year-over-year.

New listings entered into TREB’s MLS® System in September 2018 amounted to 15,920 – down by 3.1 per cent compared to September 2017. With sales up year-over-year and new listings down, market conditions became tighter. Many buyers may have found it more difficult to find a home meeting their needs.

“It is healthy to see sales and prices in many areas across the Greater Toronto Area up a bit, compared to last year’s lows. At the same, however, it is important to remember that TREB’s market area is made up of over 500 communities. Market conditions have obviously unfolded differently across these communities. This is why it’s important to work with a REALTOR® who is familiar with local market conditions in your areas of interest,” said Mr. Bhaura.

“While higher borrowing costs and tougher mortgage qualification rules have kept sales levels off the record pace set in 2016, many households remain positive about home ownership as a quality long-term investment. As the GTA population continues to grow, the real challenge in the housing market will be supply rather than demand. The Toronto Real Estate Board is especially concerned with issues affecting housing supply as we move towards municipal elections across the region,” added Mr. Bhaura.

On a monthly basis, after preliminary seasonal adjustment, sales edged up by 0.2 per cent in September 2018 compared to August 2018.

The average selling price, after preliminary seasonal adjustment, edged lower by 0.5 per cent month-over-month.

“Generally speaking, annual rates of price growth have been stronger for higher density home types in 2018, including condominium apartments, townhouses and semi-detached houses. In many neighbourhoods, these home types provide more affordable home ownership options. This is why a policy focus on increasing mid-density housing options throughout the GTA is important,” said Jason Mercer, TREB’s Director of Market Analysis.

All the Best!


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. 
For shorter term predictions, we can follow the bond yield charts, which you can find here:   Fixed mortgage rates are determined by bond yields.  When the yields rise, upward pressure is placed on fixed mortgage rates.  When they drop, downward pressure is placed.   Last spring, we saw a large spike in bond yields within a very short time span which sent fixed mortgage rates skyrocketing as much as 0.75% within a matter of a few short weeks...which is not something that anyone could have predicted.  They didn't start settling down until earlier this year and have been slowly trending downwards ever since.   If the downward trend continues, we may very well see some lower rates soon, and I think this is a definitely possibility. 

The Bank of Canada Prime Lending Rate recently dropped to 2.75% read more

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. 


2008 Real Estate Market Predicitons for the GTA

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!

Ontario Tax Sale Properties

Average Residential Resale Home Price Trends Graph since 1995Average Residential Resale Home Price Trends Graph since 1985

If you would like more information or have any questions or suggestions, please email me at

I wish you and your family All the Best!

Click here to see Mark's Overview Page!

This Month's StatisticsThis Month's StatsRead More about Prices...



News and Real Estate.

Today's Pictures: Astronomy - Earth's Current Temps/Clouds - Earth Images - Earth Science - Kodak - Nat. Geographic - NOAA Image of the Day - Wash. Post Day in Photos - More Weather Pics 

Money Sense Latest Market News

Toronto area attractions

Casa Loma: Toronto's famous castle
Centreville Amusement Park: CN Tower
Harbourfront Centre
Ontario Place
Ontario Science Centre
Paramount Canada's Wonderland
Toronto Zoo
Wild Water Kingdom

Excellent City of Toronto Links
City of Mississauga

Canadian Warplane Heritage Museum:
Children's Own Museum
The Gardiner Museum of Ceramic Art
Hockey Hall of Fame
MZTV Museum
Ontario Museum Association
Royal Ontario Museum



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As of today, I have many listings that you may be interested in and all the details and photos for them are located on my site at this listings page



Click here to see inside photos for this property
Absolute Townhome for rent, Burnhamthorpe and Hurontario $2400/month
- others available

Click here to see inside photos for this property
Beautiful 2 bedroom plus solarium condo at Square One $179,900

Click here to see inside photos for this property

Rental Properties in Mississauga

These properties are all recently sold!

Real Estate Listings and Homes for sale in Mississauga
Outstanding Condo walk to Square One and Mississauga City Centre for $384,900
now sold

Power of Sales Properties


35 Kingsbridge Garden Circle High Rise Condo Building
Semi Detached with an inground pool in the Homelands area asking $519,900

Power of Sales Properties

Real Estate Listings and Homes for sale in Mississauga
The Absolute Complex, Townhouse for rent, all utilities included!  Ultra Luxury for lease $2250/month available immediately

Find me a home!



Today's Mortgage Rates
1 Yr closed 3.64%
2 Yr closed 3.89%
3 Yr closed 4.45%
4 Yr closed 5.04%
5 Yr closed 5.34%
5 Yr Variable 3.97%
5 Yr Open
Variable (+1.8%)
Current Bank of
Canada Prime Rate
Current Bank
Lending Prime Rate
See Best Rates


NOTE: You can often negotiate a discount of 0.3 - .5% or more off posted rates.
"Best" Mortgage Rates


As of Wednesday, October 3, 2018 the Bank Prime Rate was


, read more. The Bank of Canada Prime Rate is 1.75% and the current Prime Lending Rate is 3.95% On September 8th, 2010 the Bank of Canada increased the prime lending rate .25% to make it 1.00%. and it stayed at that amount until May of 2015 when they announced a 0.25% decrease to a total of 0.75%.  The Bank prime rate is typically about 2% higher than this, so Bank Prime charged to the public but in this case, the banks are only passing along .15% of the recently lowered rate, so prime to customers is now 3.95%

The major banks in Canada typically charge their best customers 2% to 2.2% above the Bank of Canada Prime Rate, today, it's 2.20 above prime, which means that the Bank Prime or Prime Rate that we see is now 3.95%

Bank Prime Rate means "best" and this is the rate that banks charge their absolute best customers for loans, which is usually only other lending institutions.

Changes in the Bank of Canada prime rate influence changes in other interest rates, including variable interest rate mortgages. This "bank rate" rate fluctuates based on economic conditions.

Some mortgage companies offer interest rates starting at Prime minus .1% (or more) as an incentive to borrow from them!  These are known as "SUB PRIME" Mortgages and we know what happened in the US when too many sub-prime mortgages were given out in the mid 2000's   One of the dangers with sub-prime mortgages is when they come due too early in the mortgage term and rates have increased, it's difficult to make the change to much larger payments. Read more about Sub-Prime Mortgages

For example, see the
Royal Bank Prime Rates

Bank of Canada Prime rates found here


Benefits of this timely newsletter:

15 KEYS to Selling in Mississauga  8 Mistakes to Avoid When Selling in Mississauga 

Free offer "just for looking" at this newsletter, use one of my FIVE Financial Calculators

FAQ - Real Estate FAQ's
This months feature is: Are Commission Rates Negotiable?


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From the desk of: A. Mark Argentino
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