September marked the transition from the slower summer market to the busier fall market in the GTA and City of Mississauga. The market has seen an uptick in sales since Labour Day passed, along with an increase in the average selling price which was up both month-over-month and year-over-year.
There are still many opportunities to be found in the real estate market and a good way to identify which would be best for you is by looking at the Months of Inventory of the different segments (the lower the value, the stronger the market)
Here are the numbers you need to know for the month of September:
Months of Inventory:
For GTA: 1.01 MOI
For Mississauga: 0.84 MOI
Mississauga Housing Segments:
Detached homes: 0.83 MOI
Townhomes: 0.30 MOI
Semi-Detached: 0.48 MOI
Condos: 1.18 MOI
From the same time last year, price has gone up 18%! There are a few reasons why the real estate market is currently SO HOT:
1. Interest rates are still very low
2.Inventory is very low
3. Immigration is still lagging behind
4. The pandemic has ultimately changed peoples buying habits/perception
SELLERS
If you're thinking of cashing out, you need proper guidance to capitalize in a hot market. Average agents are selling their listings for 106% of asking price. Here, at Mister Sauga Real Estate, we are selling for 113% of asking price (7% MORE for your largest investment)
BUYERS
We helped 16 buyers last year win in an extremely competitive market, so get into the market 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