Mortgage interest rates have fallen slightly
over the past month or so, even though the bank rate has remained steady.
Variable rates are now Prime MINUS rather than Prime PLUS .8% or so, 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.
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.
It will be interesting
to see what the next quarter brings as the fall market is typically a strong period in our market.
You
are reading the latest newsletter
November
Report
November Resale Housing Results Brings More Positive News
This is the October report for TREB for the average prices and the number of sales, both were very strong last month.
TREB Reports Strong Growth in October MLS Transactions
TORONTO, November 4, 2009 - In October 2009, Greater Toronto REALTORS® reported
8,476 sales, up 64 per cent from October 2008. The average price
for October transactions was $423,559 – up by 20 per cent compared
to the same month last year.
Year-to-date sales, at 74,721, were up nine per cent compared to
the first ten months of 2008.
Average price, at $392,264 was up by almost three per cent. "After
a short dip in the winter, the average home price in the GTA has
rebounded because sales have been high relative to listings," according
to Jason Mercer, TREB's Senior Manager of Market Analysis. "Watch
for listings to rebound in 2010 as home owners react to the strong
sales and price growth experienced in the latter half of this year."