Mississauga Market Stats

May Mississauga Market Statistics

May Mississauga Market Statistics

GTA REALTORS® Release May 2020 Stats

Toronto Regional Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 4,606 sales through TRREB’s MLS® System in May 2020. This result was down by 53.7 per cent compared to May 2019. While the number of sales was down substantially on a year-over-year basis due to the continued impact of COVID-19, the decline was less than the 67.1 per cent year-over-year decline reported for April 2020.

On a month-over-month basis, actual and seasonally adjusted May sales were up substantially compared to April. Actual May 2020 sales increased by 55.2 per cent compared to April 2020. After accounting for the regular seasonal increase that is experienced each year between April and May, seasonally adjusted sales were up by 53.2 per cent month-over-month.

The number of new listings entered into TRREB’s MLS® System in May was down by a similar annual rate to that of sales, dipping by 53.1 per cent to 9,104. On a month-over-month basis, actual new listings were up by 47.5 per cent.

The MLS® Home Price Index Composite Benchmark price was virtually unchanged in May 2020 compared to April 2020. On a year-over-year basis, the composite benchmark was up by 9.4 per cent. The average selling price for all home types combined was up by three per cent compared to May 2019 to $863,599. On a seasonally adjusted basis, the average selling price was up by 4.6 per cent month-over-month compared April 2020.

The difference in year-over-year growth between the MLS® HPI Composite Benchmark and the average selling price was related to the fact that home sales in the City of Toronto, particularly in the detached segment, were down by a greater annual rate than overall sales in the GTA. This resulted in a compositional impact on the overall average selling price.

Posted by Christine Pecharich in Market Reports, Mississauga
Mississauga April 2020 Market Statistics

Mississauga April 2020 Market Statistics

GTA REALTORS® Release April 2020 Stats

Toronto Regional Real Estate Board President Michael Collins released the following key housing market statistics for April 2020:

Home Sales and Listings

  • Greater Toronto Area REALTORS® reported 2,975 residential transactions through TRREB’s MLS® This result was down by 67 per cent compared to April 2019. Weekday sales remained within a relatively steady range during the month, averaging 130 per day.
  • New listings amounted to 6,174 in April 2020 – down on a year-over-year basis by a similar rate compared to sales (-64.1 per cent).

Home Prices

  • The average selling price for April 2020 transactions was $821,392 – up by 0.1 per cent compared to the average price of $820,373 reported for April 2019. The semi-detached and townhouse market segments experienced annual average price growth above the rate of inflation. The condominium apartment and detached segments experienced year-over-year price declines on average.
  • The trend for the MLS® Home Price Index Composite Benchmark, which had been on an upward trajectory since the beginning of 2019 flattened in April. On a year-over-year basis, the Benchmark was up by 10 per cent.
  • The MLS® HPI indices represent prices for typical homes with consistent attributes from one period to the next. The fact that the MLS® HPI was up year-over-year by a greater rate than the average selling price suggests that the share of higher end deals completed in April 2020 versus April 2019 was down

Posted by Christine Pecharich in Market Reports, Mississauga
March 2020 Market Statistics

March 2020 Market Statistics

GTA REALTORS® Release March 2020 Stats

Toronto Regional Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 8,012 home sales through TRREB’s MLS® System in March 2020 – up by 12.3 per cent compared to 7,132 sales reported in March 2019.

However, despite a strong increase in sales for March 2020 as a whole, there was a clear break in market activity between the pre-COVID-19 and post-COVID-19 periods. For the purposes of this release, the start of the post-COVID-19 period was the week beginning Sunday, March 15.

  • The overall March sales result was clearly driven by the first two weeks of the month. There were 4,643 sales reported in the pre-COVID-19 period, accounting for 58 per cent of total transactions and representing a 49 per cent increase compared to the first 14 days of March 2019.
  • There were 3,369 sales reported during the post-COVID-period – down by 15.9 per cent compared to the same period in March 2019.

For March as a whole, new listings were up by three per cent year-over-year to 14,424. However, similar to sales, new listings dropped on a year-over-year basis during the second half of the month (beginning March 15) by 18.4 per cent.

The MLS® Home Price Index Composite Benchmark price was up by 11.1 per cent year-over-year in March 2020. The average selling price for March 2020 as a whole was $902,680 – up 14.5 per cent compared to March 2019. The average selling price for sales reported between March 15 and March 31, was $862,563 – down from the first half of March 2020, but still up by 10.5 per cent compared to the same period last year.

Milton Summary:

Average Sale Price over this time last year:  + 12.1%

Number of Sales over this time last year:  +9.5 %

Oakville Summary:

Average Sale Price over this time last year:  + 12.4 %

Number of Sales over this time last year:  + 27.2 %

Burlington Summary:

Average Sale Price over this time last year:  + 16.1 %

Number of Sales over this time last year:  + 16.2 %

Halton Hills Summary:

Average Sale Price over this time last year:  + 17.0 %

Number of Sales over this time last year:  + 32.2 %

Mississauga Summary:

Average Sale Price over this time last year:  + 17.9 %

Number of Sales over this time last year:  +16.1 %

Posted by Christine Pecharich
February 2020 Market Statistics

February 2020 Market Statistics

GTA REALTORS® Release February 2020 Stats

In line with the forecast contained in the Toronto Regional Real Estate Board’s recently released Market Year in Review and Outlook Report, TREB President Michael Collins announced a very strong year-over-year sales and price growth in February 2020.

Greater Toronto Area REALTORS® reported 7,256 residential transactions through TREB’s MLS® System in February 2020, representing a 45.6 per cent increase compared to a 10-year sales low in February 2019. However, February 2020 sales were still below the 2017 record result. Year-over-year sales growth, for the GTA as a whole, was strongest for ground-oriented home types.

After preliminary seasonal adjustment, February 2020 sales also exhibited positive momentum, up by 14.8 per cent compared to January 2020.

New listings amounted to 10,613 in February 2020, a 7.9 per cent increase compared to February 2019. This moderate annual growth rate was much smaller than that reported for sales, which means market conditions tightened considerably over the past year.

As market conditions tightened over the past year, competition between buyers has clearly increased. This resulted in a further acceleration in year-over-year price growth in February. The MLS® Home Price Index Composite Benchmark was up by 10.2 per cent. The average selling price for all home types combined was up by 16.7 per cent to $910,290. Double-digit average price growth was experienced for most major market segments, including detached houses and condominium apartments.

Milton Summary:

Average Sale Price over this time last year:  + 8.5%

Number of Sales over this time last year: +9.2 %

Oakville Summary:

Average Sale Price over this time last year:  + 13.4%

Number of Sales over this time last year:  +54.7 %

Burlington Summary:

Average Sale Price over this time last year:  + 20.9%

Number of Sales over this time last year:  +18.5 %

Halton Hills Summary:

Average Sale Price over this time last year:  + 18.4%

Number of Sales over this time last year:  +50.5 %

Mississauga Summary:

Average Sale Price over this time last year:  + 19.3%

Number of Sales over this time last year:  +23.8 %

Posted by Christine Pecharich in Burlington, Georgetown, Market Reports, Milton, Mississauga, Oakville
January 2020 Market Statistics

January 2020 Market Statistics

GTA REALTORS® Release January 2020 Stats

TRREB President Michael Collins announced that Greater Toronto Area REALTORS® reported 4,581 home sales through TRREB’s MLS® System in January 2020 – up by 15.4 per cent compared to January 2019. On a preliminary seasonally adjusted basis, sales were up by 4.8 per cent compared to December 2019.

“We started 2020 where 2019 left off, with very strong growth in the number of sales up against a continued dip in the number of new and available listings. Tighter market conditions compared to a year ago resulted in much stronger growth in average selling prices. Steady population growth, low unemployment and low borrowing costs continued to underpin substantial competition between buyers in all major market segments,” said Mr. Collins.

The MLS® HPI Composite Benchmark price was up by 8.7 per cent compared to January 2019 – the highest annual rate of growth for the Benchmark since October 2017. The condominium apartment market segment continued to lead the way in terms of MLS HPI® price growth, but all home types experienced price growth above seven per cent when considering the TRREB market area as a whole. The average selling price in January was up by 12.3 per cent, driven by the detached and condominium apartment segments in the City of Toronto.

“A key difference in the price growth story in January 2020 compared to January 2019 was in the low-rise market segments, particularly with regard to detached houses. A year seems to have made a big difference. It is clear that many buyers who were on the sidelines due to the OSFI stress test are moving back into the market, driving very strong year-over-year sales growth in the detached segment. Strong sales up against a constrained supply continues to result in an accelerating rate of price growth,” said Jason Mercer, TREB’s Director of Market Analysis and Service Channels.

Milton Summary:

Average Sale Price over this time last year:  + 3.7%

Number of Sales over this time last year:  – 12.0 %

Oakville Summary:

Average Sale Price over this time last year:  + 5.2 %

Number of Sales over this time last year:  + 17.0 %

Burlington Summary:

Average Sale Price over this time last year:  + 16.2 %

Number of Sales over this time last year:  – 0.8 %

Halton Hills Summary:

Average Sale Price over this time last year:  + 8.0 %

Number of Sales over this time last year: + 45 %

Mississauga Summary:

Average Sale Price over this time last year:  + 10.9 %

Number of Sales over this time last year: + 13.7 %

Posted by Christine Pecharich in Burlington, Georgetown, Market Reports, Milton, Mississauga, Oakville
DECEMBER MARKET STATISTICS

DECEMBER MARKET STATISTICS

GTA REALTORS® Release December and Annual 2019 Stats

January 7, 2020 — Toronto Real Estate Board President Michael Collins reported that December 2019 residential sales reported through TREB’s MLS® System by Greater Toronto Area REALTORS® were up by 17.4 per cent year-over-year to 4,399. Total sales for calendar year 2019 amounted to 87,825 – up by 12.6 per cent compared to the decade low 78,015 sales reported in 2018. On an annual basis, 2019 sales were in line with the median annual sales result for the past decade.

“We certainly saw a recovery in sales activity in 2019, particularly in the second half of the year. As anticipated, many home buyers who were initially on the sidelines moved back into the market place starting in the spring. Buyer confidence was buoyed by a strong regional economy and declining contract mortgage rates over the course of the year,” said Mr. Collins.

While sales were up in 2019, the number of new listings entered into TREB’s MLS® System was down by 2.4 per cent year-over-year. For the past decade, annual new listings have been largely in a holding pattern between 150,000 and 160,000, despite the upward trend in home prices over the same period.

“Over the last ten years, TREB has been drawing attention to the housing supply issue in the GTA. Increasingly, policy makers, research groups of varying scope and other interested parties have acknowledged that the lack of a diverse supply of ownership and rental housing continues to hamper housing affordability in the GTA. Taking 2019 as an example, we experienced a strong sales increase up against a decline in supply. Tighter market conditions translated into accelerating price growth. Expect further acceleration in 2020 if there is no relief on the supply front,” said Jason Mercer, TREB’s Chief Market Analyst.

The MLS® Home Price Index Composite Benchmark was up by 7.3 per cent on a year-over-year basis in December 2019. From June 2019 onward, the annual growth rate in the MLS® HPI Composite Benchmark accelerated. The average selling price in December 2019 was $837,788 – up almost 12 per cent year-over-year. For calendar year 2019, the average selling price was $819,319 – up by four per cent compared to $787,856 in 2018.

Milton Summary:

Average Sale Price over this time last year:  + 5.3%

Number of Sales over this time last year:  + 17.5 %

Oakville Summary:

Average Sale Price over this time last year:  + 0.2%

Number of Sales over this time last year:  + 7 %

 

Burlington Summary:

Average Sale Price over this time last year:  + 2.4%

Number of Sales over this time last year:  + 8.1 %

Halton Hills Summary:

Average Sale Price over this time last year:  + 3.8%

Number of Sales over this time last year:  + 17.3 %

Mississauga Summary:

Average Sale Price over this time last year:  + 7.7%

Number of Sales over this time last year:  + 12.0 %

Posted by Christine Pecharich in Burlington, Georgetown, Market Reports, Milton, Mississauga, Oakville
NOVEMBER MARKET STATISTICS

NOVEMBER MARKET STATISTICS

GTA REALTORS® Release November 2019 Stats

December 4, 2019 — Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 7,090 sales through TREB’s MLS® System in November 2019 – a 14.2 per cent increase compared to November 2018. On a GTA-wide basis, sales were up year-over-year for all major market segments. Annual sales growth in ground oriented home types, including detached houses, led the way.

New listings entered into TREB’s MLS® System in November and the active listings count at the end of the month went in the opposite direction compared to last year, with new listings down 17.9 per cent year-over-year and active listings down 27.2 per cent.

“An increasing number of home buyers impacted by demand-side policies over the past three years, including the 2017 Ontario Fair Housing Plan and the OSFI mortgage stress test, have moved back into the market for ownership housing. Based on affordability and stricter mortgage qualification standards, many buyers may have likely adjusted their preferences, changing the type and/or location of home they ultimately chose to purchase,” said Mr. Collins.

As market conditions continued to tighten in November 2019, with increased sales up against an increasingly constrained supply of listings, the annual rate of price growth continued to accelerate. The MLS® Home Price Index Composite Benchmark increased by 6.8 per cent year-over-year. The average selling price increased by 7.1 per cent year-over-year to $843,637. Both the MLS® HPI and the average selling price for the TREB market area as a whole experienced the strongest annual rates of price growth for the year in November.

“Strong population growth in the GTA coupled with declining negotiated mortgage rates resulted in sales accounting for a greater share of listings in November and throughout the second half of 2019. Increased competition between buyers has resulted in an acceleration in price growth. Expect the rate of price growth to increase further if we see no relief on the listings supply front,” said Jason Mercer, TREB’s Chief Market Analyst.

Milton Summary:

Average Sale Price over this time last year:  + 5.2%

Number of Sales over this time last year:  + 19 %

Oakville Summary:

Average Sale Price over this time last year:  + 0.1 %

Number of Sales over this time last year:  + 6 %

Burlington Summary:

Average Sale Price over this time last year:  + 2.2 %

Number of Sales over this time last year:  + 8.7 %

Halton Hills Summary:

Average Sale Price over this time last year:  + 3.4%

Number of Sales over this time last year:  + 16.8 %

Mississauga Summary:

Average Sale Price over this time last year:  + 7.1 %

Number of Sales over this time last year:  + 12.2 %

 

Posted by Christine Pecharich
OCTOBER 2019 MARKET STATISTICS

OCTOBER 2019 MARKET STATISTICS

GTA REALTORS® Release October 2019 Stats

November 5, 2019 — Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 8,491 residential sales through TREB’s MLS® System in October 2019. This result represented a 14 per cent increase compared to 7,448 sales reported in October 2018. GTA-wide, sales were up on a year-over-year basis for all major home types.

The trend of annual growth in sales versus annual decline in new listings continued in October 2019, with new listings down by 9.6 per cent compared to October 2018. The resulting tighter market conditions compared to a year ago resulted in positive annual rates of price growth across all major market segments, from a GTA-wide perspective.

The MLS® Home Price Index Composite Benchmark was up by 5.8 per cent on a year-over-year basis in October 2019 – the strongest annual rate of growth since December 2017. The average selling price for all home types combined was up by 5.5 per cent to $852,142, compared to $807,538 in October 2018.

“As market conditions in the GTA have steadily tightened throughout 2019, we have seen an acceleration in the annual rate of price growth. While the current pace of price growth remains moderate, we will likely see stronger price growth moving forward if sales growth continues to outpace listings growth, leading to more competition between home buyers,” said Jason Mercer, TREB’s Chief Market Analyst.

 

Milton Summary:

Average Sale Price over this time last year:  + 4.6%

Number of Sales over this time last year:  + 18.3%

Oakville Summary:

Average Sale Price over this time last year:  -0.1%%

Number of Sales over this time last year:  + 4.4%

Burlington Summary:

Average Sale Price over this time last year:  + 1.8%

Number of Sales over this time last year:  + 8.1%

Halton Hills (Georgetown) Summary:

Average Sale Price over this time last year:  + 0%

Number of Sales over this time last year:  + 14.6%

Mississauga Summary:

Average Sale Price over this time last year:  + 7.1%

Number of Sales over this time last year:  + 12.1%

 

 

 

 

Posted by Christine Pecharich
SEPTEMBER 2019 MARKET STATISTICS

SEPTEMBER 2019 MARKET STATISTICS

GTA REALTORS® Release September 2019 Stats

October 3, 2019 — Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 7,825 sales through TREB’s MLS® System in September 2019. This result represented strong year-over-year sales growth of 22 per cent compared to 6,414 sales reported in September 2018. It is important to note, however, that sales remain well-below the record September 2016 peak of more than 9,800 sales.

On a preliminary seasonally adjusted basis, the September 2019 sales level remained in virtually the same as the August 2019 result.

The supply of listings continued to be a concern in September 2019, with new listings down by 1.9 per cent year-over-year to 15,611. We have experienced multiple months this year wherein the annual rate of sales growth outpaced the annual rate of new listings growth, resulting in the overall number of active listings at month-end being well-below last year’s levels. This speaks to tightening market conditions and an accelerating annual rate of price growth.

The annual rate of price growth in September reached the highest point so far in 2019. The MLS® Home Price Index (HPI) Composite Benchmark was up by 5.2 per cent on a year-over-year basis in September. The average selling price for all home types combined was up by a similar annual rate of 5.8 per cent to $843,115.

On a preliminary seasonally adjusted basis, the September 2019 average selling price was up by 1.2 per cent compared to August 2019.

Milton Summary:

Average Sale Price over this time last year:  + 4.5%

Number of Sales over this time last year:  + 21.4%

Oakville Summary:

Average Sale Price over this time last year:  + 0.6%

Number of Sales over this time last year:  + 3.4%

Burlington Summary:

Average Sale Price over this time last year:  + 1.7%

Number of Sales over this time last year:  + 10.1%

Halton Hills Summary:

Average Sale Price over this time last year:  + 4.4%

Number of Sales over this time last year:  + 15.3%

Mississauga Summary:

Average Sale Price over this time last year:  + 5.8%

Number of Sales over this time last year:  + 11.1%

Posted by Christine Pecharich, 0 comments
JULY 2019 MARKET STATISTICS

JULY 2019 MARKET STATISTICS

GTA REALTORS® Release July 2019 Stats

August 6, 2019 — Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 8,595 sales through TREB’s MLS® System in July 2019. This result was up by 24.3 per cent compared to July 2018. On a month-over-month basis, sales were up by 5.1 per cent, after preliminary seasonal adjustment.

New listings entered into TREB’s MLS® System in July 2019 were up compared to July 2018, but by a much lesser annual rate than sales, at 3.7 per cent. With annual growth in sales far outstripping annual growth in new listings, market conditions clearly tightened compared to last year. Active listings at the end of July were down by 9.1 per cent year-over-year, further reflecting tightening market conditions.

As market conditions continued to tighten in July, the average selling price increased by 3.2 per cent on a year-over-year basis to $806,755. The MLS® Home Price Index Composite benchmark was up by 4.4 per cent. Higher density home types continued to drive price growth, whereas detached home prices remained down in many communities throughout the GTA.

Broadly speaking, increased competition between buyers for available properties has resulted in relatively strong price growth above the rate of inflation for semi-detached houses, townhouses and condominium apartments. However, the single-detached market segment, which has arguably been impacted most by the OSFI stress test, has experienced a slower pace of price growth, with average detached prices remaining lower than last year’s levels in some parts of the GTA.

Milton Summary:

Average Sale Price over this time last year:  + 5.2%

Number of Sales over this time last year:  + 19.8%

Oakville Summary:

Average Sale Price over this time last year:  + 0%

Number of Sales over this time last year:  + 5.1%

Burlington Summary:

Average Sale Price over this time last year:  + 0.4%

Number of Sales over this time last year:  + 12.1%

Halton Hills Summary:

Average Sale Price over this time last year:  + 3.0%

Number of Sales over this time last year:  + 18.4%

Mississauga Summary:

Average Sale Price over this time last year:  + 5.7%

Number of Sales over this time last year:  + 8.3%

 

 

 

Posted by Christine Pecharich, 0 comments