January Was Hot For Real Estate
The real estate market got off to a hot start this year. The number of homes sold in the GTA was up by 548 over January last year with a totoal of almost 5200 homes being sold. The avarage price of homes sold has jumped $140,000 to $770,745 compared to January 2016.
The reason the prices jumped so much in January is the lack of homes for sale. There were almost twice as many homes on the market last January.
The most popular type of property sold in January is detached homes followed closely by condos. Detached homes accounted for amost 2,300 of the total propeteris that sold last month.
In Mississauga there were 448 active listings which is down over 55% from a year ago.
More homes were sold than active listing with a total of 509 properties selling in Mississauga in January 2017.
The average selling price is up 28% to just over $700,000 which is catching up to the prices in Toronto.
The average sold to list price is 104% meaning multiple offers, bully offers, and bidding wars are the norm these days.
The average time it took to sell a house in Mississauga in January was 17 days.
If you are considering selling your home in Mississauga and are waiting for the spring market the spring market is already here.