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Market Update - from Your Lorne Park Realtor

Blog by Gord Honor | December 7th, 2016

The Market is HOT!

Residential home sales in Mississauga November were outstanding!

The stats below are for detached homes in all of Mississauga:

Between $700,000 t0 $1,000,000 there were 103 active listings and 177 homes sold!  The average time to sell was only 12 days. Most if not all of these listings would have been holding offers. I think if they hadn't held offers the time to sell would actually be much lower. In this price range there are currently 2 weeks of inventory. That means that if no new homes come on the market, all the existing listings (inventory) will sell within two weeks.

Over $1,000,000 there were 197 active listings and 97 homes were sold. The average sold price was 102% of the asking price, yes bidding wars were very much a factor here. The average time to sell was a little longer at 19 days. Currently there are 2.2 months of inventory available in the over $1,000,000 price range.

If you are thinking about selling your home and want to find out how much is my home worth in Lorne Park, Port Credit or Erin Mills give me a call at 647-242-2743

or click here to get a market evaluation of your home.