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WHAT'S HAPPENING 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
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.
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.
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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
October News Report I hope this finds you healthy and happy! All the best, Mark 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 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 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! 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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