Demand for housing ownership in the GTA still remains VERY strong from a historic perspective in January this year. In fact, Toronto just became the most expensive metro market in Canada, beating Vancouver!
In comparison to the same time last year, sold prices have gone up another 28.6% here in the GTA! Many (including myself) have said we've had low inventory, but the truth of it all is that we are experiencing more demand than we've ever had. If we take a look back at 2021, we actually saw the most number of sales in history with 121k! (that 7.65% more than our previous high in 2016)
Here are the numbers you need to know for the month of January:
Months of Inventory:
For GTA: 0.73MOI
For Mississauga: 0.57 MOI (17 days of inventory)
Mississauga Housing Segments:
Detached homes: 0.81 MOI
Townhomes: 0.58 MOI
Semi-Detached: 0.42 MOI
Condos: 0.49 MOI
Why are we experiencing such a high volume of demand in real estate?
1. People have easy access to money (low-interest rates)
2. Immigration
3. Lifestyle changes from the pandemic
SELLERS
Right now is a great time to sell! Even in a hot market like this, with our strategic marketing plan, our sellers are getting 6% more than their neighbours!
BUYERS
Don't be discouraged! We should be seeing an increase of homes for sale in the coming months as the Spring market approaches. We also helped 16 buyers last year win in an extremely competitive market, so get into it before you get priced out!
If you're thinking of making a move in 2022, we're here to help! Contact us today to get started!
Call or text 647-504-0690
Email: steven@mistersauga.ca