Homes sales in the GTA and Mississauga were 59% higher in April
of 2010 compared to the same month in 2009. If
you are a buyer looking for a property right now, you know that our
marketplace is very fast right now and almost everything is selling
very quick.
Average prices are up considerably when you compare April
2010 to April of 2009.
February to April of 2010 were extremely active,
you won't find many people who are not optimistic on real
estate in Mississauga and Toronto for 2010
All the best,
Mark
Variable rates are now about Prime or just a little less at Prime MINUS about .2% to .5% or so, read more
Mortgage interest rates have fallen slightly "again" over
the past month or so, even though the bank rate has remained steady. Bank
of Canada is predicting rates will increase again in mid year, read
more
Any way you look at it, interest rates are at or near all time lows with bank prime at 2.25% , read more.
Our market continues to do very well, prices are up and so are sales
volumes. There are very few homes currently for sale in Mississauga,
we need good homes to sell!
It will be interesting to see what the next quarter brings as the
spring market is typically the strongest marketplace. I predict
that it will be a very strong finish to the spring market and our market
will soften in May through to at least July. Prices may escalate
slightly, but volume will be down due to low number of listings on
mls.
My observations for the Mississauga marketplace is that we continue
to see that prices continue to be strong and rising in many areas. Moderately
of course, but still, they are rising.
There are very few listings on the market and this would normally indicate that prices will continue to be very strong.
You are reading the latest newsletter
May Report
April Resale Housing Results Shows Strong sales and
prices!
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.
GTA REALTORS® REPORT FEBRUARY RESALE HOUSING MARKET FIGURES
TORONTO, May 5, 2010 – Greater
Toronto REALTORS® reported 10,898 sales through the Multiple
Listing Service® (MLS®) in April, representing a 34 per
cent increase compared to April 2009. There were also 20,683 new
listings in April – a 59 per cent annual increase.
Both the sales and new listings results amounted to new records
for the month of April under the current Toronto Real Estate Board
(TREB) boundaries. “The GTA resale market is functioning
properly.
Sales were high as buyers continued to take advantage of affordable
home ownership opportunities. Listings grew as home owners reacted
to strong sales and price growth,” said Toronto Real Estate
Board President Tom Lebour. “More balanced market conditions
will result in sustainable rates of annual price growth in the
second half of 2010.”
The average price for April transactions was $437,600 – up
13 per cent compared to the average of $385,641 recorded in April
2009.
“Home sales continue to be driven by many different segments
of the market, with sales growth for all major home types in both
the City of Toronto and surrounding 905 regions,” said Jason
Mercer, TREB’s Senior Manager of Market Analysis. “Home
sales will remain strong in the second half of 2010, but will slip
from the current record pace as
borrowing costs rise.”
If you would like more
information or have any questions or suggestions, please
email me at info@mississauga4sale.com
FEATURE HOMES
Great Value
See them all Here
Feature Homes
Excellent Homes
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
I have rental properties that are located at this page
FEATURE HOMES
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
Beautiful 2 bedroom plus solarium condo at Square One $199,900
Beautiful 2 bedroom condo next to Meadowvale Town Centre $182,500
Excellent 2 bedroom, 2 bathroom townhouse in Meadowvale $216,900
10 Acres of prime land plus large home in north central Oakville $4,500,000
Eglinton and Winston Churchill beautiful 1 bedroom rental $1050 per month plus utilities
2 bedroom rental $800 per month plus utilities
Excellent 4 bedroom 2 family room, 2800 square foot home in Central Erin Mills,
$569,900 - email me for details! SOLD!
1250 Square Foot Condo, 2 bedrooms plus den, huge wrap around Terrace, $249,900! SOLD
Excellent 3+2 bedroom home with basement apartment near Square One, $414,900
- won't last long! now sold
Beautiful 4 bedroom home backing on ravine and Lionhead gold course $819,900 now
sold
Mavis and Derry, beautiful semi, $289,900 sold
Britannia and 10th Line, gorgeous townhome, $269,900 now sold!
Churchill Meadows, Beautiful Townhomes, $304,900 sold!
Needed, more condos to rent at One Park Tower
These properties are all recently sold!
Outstanding Condo walk to Square One and Mississauga City Centre for $184,900 now sold
Semi Detached with an inground pool in the Homelands area asking $319,900 sold
Outstanding panoramic views of Lake Ontario, $199,900 sold
The Absolute Complex, Townhouse for rent, all utilities included! Ultra Luxury for lease $2100/month available immediately no longer
Sorry Sawmill Valley Beauty $599,900
TODAY'S MORTGAGE INTEREST
RATES
Term | Royal Bank Posted Rates |
6 Month | 4.65% |
1 Year | 3.40% |
2 Year | 3.75% |
3 Year | 4.15% |
4 Year | 5.04% |
5 Year | 5.39% |
7 Year | 6.65% |
10 Year | 6.80% |
25 Year | 8.05% |
5 Yr Closed Variable | Bank Prime - .10% "special" |
5 Yr Open Variable | Bank Prime + .7% |
Bank Prime 2.25% |
NOTE: You can often negotiate a discount of 0.5 - .8% or more off posted rates.
"Best" Mortgage Rates
BANK PRIME RATE
As of December 6, 2015 the Bank Prime Rate was
2.25%
The Bank of Canada
prime rate as of May 12th, 2009 was 0.25% and has remained unchanged
since that date.
Bank Prime Rate means "best" and this is the rate that banks charge their absolute best customers for loans.
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