Friday, January 01, 2010

Mississauga Real Estate 3rd quarter residential activity

Activity was up in the 3rd quarter

















Residential Activity





MLS® home sales activity in Mississauga rebounded sharply in the third quarter of 2009, reaching the highest level on record for activity in the third quarter period. Residential activity numbered 3,377 units in the third quarter, up 21 per cent from the same period last year.



Seasonally adjusted sales activity rose 13 per cent from levels in the second quarter (seasonal adjustment removes normal seasonal fluctuations). Building on consecutive increases in the two previous quarters, seasonally adjusted activity now stands 64 per cent above the low from the end of 2008.



MLS® home sales rebounded by 10 per cent or more from year-ago levels in all major housing categories. Condo apartment sales set a new record, while sales of single detached homes and condo townhouse units reached the highest levels on record for the third quarter period.



The number of active listings dropped by more than 25 per cent from year-ago levels in all major housing categories. Combined with a strong increase in sales activity, the MLS® market was considerably tighter, and buyers spent less time shopping than they had a year earlier.



Median sale prices in all major housing categories posted new quarterly records, due to significant increases in activity in the highest price ranges.



The median sale price for MLS® single detached homes rose seven per cent from year-ago levels to $485,000 in the third quarter of 2009.



The median sale price for MLS® semi-detached units was up two per cent year-over-year to $350,000, while the price for MLS® condo townhouse units was up five per cent from the previous third quarter to $279,000.



The median sale price for MLS® condo apartment units rose five per cent from year-ago levels to $213,000.


































Unit sales


Category


Q3 2009


Q3 2008


Year-over-year percentage change


Single detached


1,113


893


+25


Semi-detached


458


417


+10


Condo townhouse


637


532


+20


Condo apartment


870


728


+20



































Median sale price ($)


Category


Q3 2009


Q3 2008


Year-over-year percentage change


Single detached


485,000


455,000


+7


Semi-detached


350,000


343,000


+2


Condo townhouse


279,000


267,000


+5


Condo apartment


213,000


203,450


+5



I hope this finds you Happy and Healthy!


All the Best!


Mark


A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate


Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS Newsletter
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