Thursday, December 06, 2012

Mississauga and GTA real estate market results for last month are now in the books!

TREB reports that the sales volume of homes is down but prices are up year over year.  In fact prices are down from the previous month about 4% and this is a trend we have seen recently.

It could be the time of year or a trend, nobody can know for sure.  We will need to wait a few more months to determine if it's a longer term trend.

See the full report from TREB below.

See graphs at this link

Sales Dip in November while Selling Prices Increase

TORONTO, December 5, 2012 – Greater Toronto Area REALTORS® reported 5,793 sales in
November 2012 – down by 16 per cent compared to November 2011.

“Transactions have been down on a year-over-year basis since June, after being up substantially in the last half of 2011 and the first half of 2012. Some buyers pulled forward their decision to purchase, which has impacted sales levels in the second half of 2012,” said Toronto Real Estate Board (TREB) President Ann Hannah.

“Stricter mortgage lending guidelines, including a reduced maximum amortization period and a purchase price ceiling of one-million dollars for government insured mortgages, have prompted some buyers to move to the sidelines. This situation has been exacerbated in the City of Toronto because the additional upfront Land Transfer Tax takes money away from buyers that otherwise could be used for a larger down payment,” continued Hannah.

The average selling price was up by 1.6 per cent annually to $485,328. The MLS® Home Price Index (MLS® HPI) Composite Benchmark was up by 4.6 per cent compared to last year.

“The moderate annual rate of price growth compared to previous months was largely due to a different mix in detached home sales this year compared to last, particularly in the City of Toronto. The share of detached homes that sold for over one-million dollars was down substantially, which influenced the overall average price,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

“The MLS® HPI detached benchmark price, which tracks the price for a home with the same attributes over time, was up by almost six per cent in Toronto, suggesting that market conditions for low-rise homes remain quite tight despite a changing mix of sales,” added Mercer
For more information please contact A. Mark Argentino

A. Mark Argentino, Broker, P.Eng.,
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc., Brokerage
2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1
BUS. 905-828-3434
FAX. 905-828-2829


see the average price and sales volumes each year since 2001 to 2011 in the table below
historical annual price and sales volumes since 2001 to 2011


  1. You say month over month decline in the fall to winter is a recent trend!!!. Infact it is the trend for the last 10 years. Are you representing the doomsayers?

  2. If you look at the graph at this link below you will see that the trend has been up consistently every year except 2009 since 1995

    Thank you,

  3. I just updated the post above and you can see the average price since 2001 in the table at the end of the post