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WHAT'S HAPPENING In this Issue:
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December 2015 News
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 month Mortgage Interest Rates - time to lock in? read more 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. See the full report from TREB below. 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 monthRecord Sales in November 2015 TORONTO, December 3, 2015 – Toronto Real Estate
Board President Mark McLean announced that Greater
Toronto Area REALTORS® reported 7,385 home sales Sales through the first eleven months of 2015 amounted to 96,401. “Not only did we see a record sales result for November, but with one month left to go in 2015, we have already set a new calendar year record for home sales in the TREB market area, eclipsing the previous record set in 2007. Sales were up on a year-over-year basis for all major home types, both in the City of Toronto and surrounding regions. This suggests that the demand for ownership housing is widespread, from first-time buyers to long-time homeowners across the GTA,” said Mr. McLean. The MLS® Home Price Index (HPI) Composite Benchmark was up by 10.3 per cent year over year in November. The average selling price for all transactions was
also up by a similar annual rate of 9.6 per cent to
$632,685. Annual rates of average price growth for
November and the first eleven months of 2015 were similar,
with the strongest rates of increase being reported
for low-rise home types, including “Demand for ownership housing has remained strong in the GTA throughout 2015, with sales generally increasing at a greater annual rate compared to new listings. This means that competition between buyers has strengthened
in many neighbourhoods in the City of Toronto and surrounding
regions. The end result has 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 of 3.00% prime, (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!
Mortgage rates and Housing News | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
If you would like more information or have any questions or suggestions, please email me at info@mississauga4sale.com | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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