Real Estate Locations
Mississauga Real Estate and GTA Market Statistics
If you’ve been watching the news and following the pundits and commentary, essentially the message has been that real estate prices have declined in the 905 region, including Mississauga of course, by about 8% from October of 2007. Keeping factors in perspective, there are bright spots. Mississauga and the surrounding 905 area have had prices decline by 8%, however they’re still 1% higher than October of 2006. The average price of a home in October 2006 was $332,822, and October 2008 is $336,049. As opposed to any kind of market downward trend, many analysts believe we are simply witnessing a market adjustment.
Mississauga Real Estate statistics summarized in the totals of all sales in the 905 region, also known to most as the GTA (Greater Toronto Area), indicate sales figures from January 1, 2008 to Mid November 2008 to be 70,474. During that same period for 2007 sales totaled 84,994.
Real Estate in Mississauga showed a total of 1791 new residential listings added to the local multiple listing service in the month of October 2008 increasing by 16% over October 2007. The total number of residential properties listed for sale in Mississauga at the end of October 2008 was 3,101. Real estate buyers will have a larger inventory to choose from along with lower pricing. Purchasers will have a larger inventory of real estate to choose from.
In the first two weeks of November 2008 the average price in the 905 region was $358,130 from $358,610 recorded a year ago. During the first half of November 2006 the average price was recorded at $336,576.
In summation, a study by the International Monetary Fund based upon housing markets in seventeen countries determined that Canada was only one of two nations where house prices are supported by the economy. Canada is positioned very well to ride the economic downturn due to many factors, including more stringent regulation within the banking system. Canadian regulations have assisted in averting the kind of massive upheaval being experienced in the US real estate market.
The above real estate statistics can be found discussed in greater detail at either the Toronto Real Estate Board or The Canadian Real Estate Association.
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