Real Estate Curve

These Stats Are Compared to February 2009:

Active Listings –> 32% LESS

Monthly Sold –> 77% MORE

Year To Date Sold –> 81% MORE

Year To Date Average Selling Price –> 19% MORE

Sold Price To List Price –> 4% MORE

Average Days On Market –> 51% LESS

$200,001-$300,000
Sold to List Price: 98.37%
Average Days On Market: 42

$300,001-$400,000
Sold to List Price: 100.33%
Average Days On Market: 13

$400,001-$700,000
Sold to List Price: 99%
Average Days On Market: 15

$200,001-$300,000
Sold to List Price: 98.61%
Average Days On Market: 23

$300,001-$400,000
Sold to List Price: 99.17%
Average Days On Market: 22

$400,001-$700,000
Sold to List Price: 98%
Average Days On Market: 41

Although we are getting more and more listings in Mississauga and around the GTA, there isn’t enough. There are tons of buyers and still there isn’t enough listings. We have bidding wars and some people still over pay for a dream house because the supply is low and demand is high. Let us wait for March to come, in the past few years, March is the typical month where real estate starts to pick up. My predictions are, there will be alot of activity before July(HST will come on effect) and prices should stay stable.

Happy New Year to all the readers, may this year bring the real estate market to a steady balance.

- realestatecurve

Happy Holidays to everyone, may your holidays be safe and joyful.

Since when did we go into bidding wars in Mississauga, once in a while before but now it seems each good listing has a bidding war. Buyers are becoming angry and feel the pressure to buy. First time buyers are shocked and feel extreme pressure from their agents as well.
Banks are appraising the properties and wonder where are the sale prices coming from. Well its easy, in a bidding war the final price comes from the person who is willing to pay the most for the house.
People now is Mississauga are even buying real estate without inspections, what’s next?
Houses selling in 1-4 days, others over listed are staying on the market or getting low ball offers.
The majority of the activity is coming from the 300-500K homes.

Stay tuned for the next update…

Through out the last few weeks, the market in all parts of Mississauga specifically in Meadowvale, Clarkson, Port Credit Real Estate has been moving like hot cakes. If the property is rennovated or not but priced right, it will sell quick. People are not being that picky as they use to be due to the lack of extreme LOW inventory.
Have you been looking for a house, did you find one, were there mulitple offers on it or even worst did it sell before you could take a look at it? These are all the symptoms which buyers are experiencing currently in Mississauga Real Estate and through out the GTA.

As of November 2, the inventory of Mississauga and the GTA is extremly low, ATTENTION SELLERS IT IS YOUR MARKET!!!

As we moved on from the summer the housing inventory in real estate in Mississauga and Toronto was at the lowest possible, tons of buyers but not a lot of sellers. What this mean is, that currently it is still a sellers market. The buyers are fighting for the homes which may not be worth that much, but since there is a limited inventory buyers are on fire to buy. What happened to the market it use to be a buyers market? It quickly changed to a sellers market, what will the next few months bring? I believe it will be the same as the last past 3 months, low invetory and a bit of a slow down beacuase of the holidays…

Here are the latest stats for the Mississauga and Toronto Real Estate Market

Compared to 2008 Sales are up by 22%

Compared to 2008 Inventory is down by 40%

What does this mean, is that people are buying virtually everything if it is priced right and if the condition of the property is decent.

For hot properties this mean…yes a “Bidding war”, nothing to be thrilled of if you are a buyer. On the other hand for sellers this is an ideal type of a market.
List it and sell it fast.

With all the bad inventory in the Gta’s market, buyers are getting mad on their agents. Is this right? I don’t think so, but apperntly if your agent can’t find you a home it is the agents fault. People have to think before they accuse other people, they have to ask themselves as a buyer,”am I too picky” ? Are the houses over priced or if there is no good inventory available. Before blaming your agent ask yourself all those questions. Real estate agents are there to help you purchase the biggest investment of your life, they want to be referred again and again (well some just want to make a quick buck) but most of them will work for your best interest. So before you start screaming at your agent, sit down with him or her and talk about the market and why it is what it is.

Well another 2 weeks have passed and the Gta’s inventory is horrible, what I mean to say is that there isn’t many home that are priced at market value that are kept up. On the other hand there is tons of homes that are out of shape and outdated and people still are asking alot of $$$$$ for them. People need to wake up and start renovating or dropping the price. I know alot of people are shopping around but with this inventory is it really hard to find a good solid home.

Energy costs are rising now and will in the future, this great video will go through a bunch of pointer where to check and how to check your home (to get best results contact a professional) Here are some key point which they use to measure in the audit. They measure the whole house inside and outside, starting measurements form outside, they check where the windows are pointed, look into the attic, info red camera to check insulation inside walls, kitchen appliances, old fridges over 10 years old change them with energy star rated, compact florescent bulbs, water efficiencies (energy shower head save 20 gallons a day) . Check out this great informational video.

The statistics show that an average family will change their home every 3-5 years. Now in most cases this is true, but there are exceptions. For example, you get married buy your first condo, live there 2 years have 1 or 2 kids, the condo gets smaller you have to get a bigger living space(most likely a house) After the next 3-5 years the kids get bigger, you need more room, one for each child or even a older parent to help them out, so what now, you sell and buy bigger. Once you get older (kids move out)you don’t need that big house and you down size. Now this case doesn’t apply to all people there is tons families that live in a house for over 10, 20 or even 30 years, but the statistics show 3-5 years an average a family changes their home.
People change for many reasons they slowly move up to that Dream Home, over many moves/years. Buying your dream homes won’t happen on your first home purchase, well unless you got the cash or win the lottery. Just though this could be useful to know.

As a lot of people from Ontario know most likely on July 1,2010 Ontario will get slapped with the one 13% tax which will go on virtually everything, even food under $4. The only products which will receive a cut are women products and child products (diapers, car seats, etc).

This tax won’t affect homes under the $400,000 mark but the homes between $400,000 - $500,000 mark will get taxed but will receive some kickback from the government. So what will happen to the homes valued more the $500,000 they will pay full tax, which isn’t fair at all. Why should someone be taxed more if their home is valued more, because they earn more? or they had more money when buying a bigger house at the first place? this isn’t fair. Complain to your government, lets prevent this!!!