April News!
Greetings from Fabulous Mississauga!
- Average price for last month was $504,117 and
this represents almost a 10% increase compared to March
2011 - see
graph of prices here
- Prices were up and sales were up for March 2012 in the GTA
Resale Housing Market
- The Bank of Canada Prime Lending Rate is 3.00% 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 month
Mortgage Interest Rates are on the rise, read
more
March 2012 was another very strong month for sales and prices
in the GTA.
- Total sales for March 2012 amounted to 9,690 – up 8%
compared to March of 2011
- Average prices are up considerably when you compare year
over year. Prices year over year are up nearly 10.51%
- Historically, March is one of the busier months and this
March 2012 was no exception with such tight supply
- There continues to be "pent up" demand and with
such low inventories, anything that comes on the market that
shows well and is priced well get's sold very quick.
- We expect the entire spring market to have tight supply and
prices should increase 2-5 percent between now and end of May,
stay tuned for all the results right here!
I hope this finds you healthy and happy!
All the best,
Mark
Variable rates are now about Prime or just a little less at
Prime MINUS about .3% to .5% 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 3.00% , read more.
Our market continues to do 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 spring market of 2012
brings as the spring market is here and 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 April 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 balance of the winter, 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.
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