Once again this past month the real estate market continued it's rapid upward climb. We have seen unprecedented sales results including the number of sales being a lot higher than the number of active listings. This means that the available inventory is selling faster than the new listings coming on the market.
In all of the GTA over 8,000 homes were sold last month compared to just over 7,500 in February last year. The big news though is the average sale price going form 686,000 to 876,000.
Year over year the number of active listings was down by over 50% and the average price was up 27.7%. but sales were up 5.7%
Mississauga Home Sales
In Mississauga last month active listings were down to 496. Keeping in mind the population of the City is over 700,000 people. In total 779 residential units were sold last month, well outpacing the number of active listings. To put it in perspective in Feb of 2013 there were 1,711 active listings and sales and prices were up from the year before that.
The average selling price in Mississauga was $714,930 which is still considerably lower than the City of Toronto.
Here’s how the sales break down
Condo Apartments 161 active listings vs 277 condos sold with an average time to sell of 15 days.
Condo Townhomes 58 active listings vs 123 town houses sold with an average time to sell of 9 days.
Freehold Properties 300 Active listings vs 407 homes sold with an average time to sell of 10 days.
In a balanced market the average time to sell is about 30 days.
In Lorne Park 19 homes sold with an average sale price of $1,680,000
In Clarkson 18 homes sold with an average sale price of $1,130,000
In Erin Mills 47 homes were sold with an average sale price of $1,150,000
In Port Credit including Mineola 14 homes sold with with an average price of $1,488,000
The least expensive home in Mississauga that sold in Mississauga last month was in Lakeveiw and sold for $673,000
The most expensive home sold was in Lorne Park at over $4,100,000
To search homes for sale in Mississauga click here