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WHAT'S HAPPENING In this Issue: Real Estate Prices UP and Sales Volume DOWN - Mississauga and GTA Real Estate Newsletter July 2017 - Issue 07:14 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. The Average Detached home in Toronto (not the GTA) is $1.6 million dollars! See the full report from TREB below.
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July 2017 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
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
I hope this finds you healthy and happy! All the best, Mark You are reading the latest newsletter July 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 monthMore Moderate Price Growth in June July 6, 2017 -- Greater Toronto Area REALTORS® reported 7,974 sales through TREB's MLS® System in June 2017 – down by 37.3 per cent in comparison to June 2016. The number of new residential listings entered into TREB's MLS® System, at 19,614, was up by 15.9 per cent compared to June 2016. While this annual rate of growth was sizeable, it represented a more moderate annual rate of growth compared to May 2017, when new listings were up by 48.9 per cent year-over-year. "We are in a period of flux that often follows major government policy announcements pointed at the housing market. On one hand, consumer survey results tell us many households are very interested in purchasing a home in the near future, but some of these would-be buyers seem to be temporarily on the sidelines waiting to see the real impact of the Ontario Fair Housing Plan. On the other hand, we have existing home owners who are listing their home because they feel price growth may have peaked. The end result has been a better supplied market and a moderating annual pace of price growth," said Mr. Syrianos. Annual growth rates for MLS® HPI benchmark prices have moderated over the past two months, but remain strong. The MLS® HPI composite benchmark price was up by 25.3 per cent on a year-over-year basis in June. June's average selling price for all home types combined for the TREB market area was $793,915, representing a 6.3 per cent increase compared to the same month in 2016. A better supplied market has certainly been a key factor influencing the moderation in price growth. "Recent Ipsos survey results suggest that home buying activity in the GTA will remain strong moving forward. The year-over-year dip in home sales we have experienced over the last two months seem to be the result of would-be buyers putting their decision to purchase temporarily on hold while they monitor the impact of the Fair Housing Plan. On the supply side of the market, it certainly looks as though buyers will benefit from more choice in the second half of 2017 compared to the same period in 2016,"said Jason Mercer, TREB's Director of Market Analysis and Service Channels. 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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News and Real Estate.
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