Mineola Market Report - Larose Team · 2018. 4. 24. · 3% vs. Q1 2017 20% 35% 8% vs. Q1 2017 vs....
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3% vs. Q1 2017 20% 8% 35% vs. Q1 2017 vs. Q1 2017 vs. Q1 2017 Mineola Market Report April 2018 laroseteam.com 905.278.7355 Real Estate Team Toronto Real Estate Board MLS Stats Sales Activity* Average Price* March 2018 7,228 11,954 $784,558 $915,126 *Year-Over-Year Summary - All home types combined March 2017 March 2018 March 2017 Detached/Semi Townhouse Condos 19 N/A N/A # Houses Sold Detached/Semi Townhouse Condos $1,455,921 N/A N/A Average Price Detached/Semi Townhouse Condos 23 N/A N/A Days on Market Detached/Semi Townhouse Condos 97% N/A N/A Sale-to-List Price Mineola Stats (Q1 2018) We’re not #1. You are. In the first quarter of 2018, sales in the Mississauga area have followed those in the GTA with unit sales plunging more than 29% and the average sales price down 11% com- pared to 2017. Average days on market are back to a normal 24 from 11 and sales to list price is a sustainable 98% from 109% in the first quarter of 2017. At this time last year ‘the fear of missing out’ prevailed as prices continued to spike and inventory was at an all time low. Some of the dip in average selling price was also reflective of the type of properties sold this March- unit sales of detached homes which generally rep- resent the highest price points, declined by 66% which was significantly more than other home types. Condo sales are outperforming the average partially due to the fact that 48% of GTA condos are bought by investors who rent the units. As baby boomers look to make chan- ges in their living arrangements, purchasing a condo here in Mississauga and buying a vaca- tion or second home has become an important lifestyle change. This year is bringing a new set of mortgage rules and a different mindset of potential buy- ers and sellers as the market presses the reset button and we move into 2nd quarter. Sales and prices have started to climb as we exit March and with 2-3 months of inventory we are in a good position to see sales rise in the 2nd quarter which is typically the strongest quarter for home sales. “We are still experi- encing a shortage of good properties in high demand areas fuelling predictions of stronger growth in the next several months” says Kevin Larose of the Larose Team. The fundamental economic drivers in the GTA are strong- low unemployment rates, increased immigration and higher minimum wages. In March, the number of new MLS list- ings in the GTA posted on Treb totaled 14,866 – a 12.4 per cent decrease compared to March 2017 and a three per cent decrease compared to the average for the previous 10 years. For more information regarding your com- munity and or sold prices in your area contact us at 905.278.7355 or [email protected] SOUTH MISSISSAUGA MARKET SET TO RISE Join us on Social Media! Stay connected and join us on social media. It’s a great way to keep up-to-date with our current listings, market reports, events, and much more. The team is exceptional, with high standards, excellent communication and a program that makes the competition pale by comparison! It is such a pleasure to work with a true sales pro- fessional with a team that sets a new level of service. Full service from the first meeting to the final detail in the closing! Complimentary Evaluation CONTACT US and we will provide you with a complimentary and confidential evaluation of the market value of your property. It may be worth more than you think! 905.278.7355 Contact us at www.laroseteam.com - Brad & Maureen Cox #gohomehappy Photo: Brad Cox Here’s what are clients are saying...
Transcript of Mineola Market Report - Larose Team · 2018. 4. 24. · 3% vs. Q1 2017 20% 35% 8% vs. Q1 2017 vs....
3%vs. Q1 2017
20%
8%35%
vs. Q1 2017
vs. Q1 2017 vs. Q1 2017
Mineola Market ReportApril 2018
laroseteam.com
905.278.7355Real Estate Team
Toronto Real Estate Board MLS Stats
Sales Activity* Average Price*
March 2018
7,228 11,954 $784,558 $915,126
*Year-Over-Year Summary - All home types combined
March 2017
March 2018
March 2017
Detached/SemiTownhouse
Condos
19N/AN/A
# Houses SoldDetached/Semi
Townhouse Condos
$1,455,921N/AN/A
Average Price
Detached/SemiTownhouse
Condos
23N/AN/A
Days on MarketDetached/Semi
Townhouse Condos
97%N/AN/A
Sale-to-List Price
Mineola Stats (Q1 2018)
We’re not #1. You are.
In the first quarter of 2018, sales in the Mississauga area have followed those in the GTA with unit sales plunging more than 29% and the average sales price down 11% com-pared to 2017. Average days on market are back to a normal 24 from 11 and sales to list price is a sustainable 98% from 109% in the first quarter of 2017. At this time last year ‘the fear of missing out’ prevailed as prices continued to spike and inventory was at an all time low. Some of the dip in average selling price was also reflective of the type of properties sold this March- unit sales of detached homes which generally rep-resent the highest price points, declined by 66% which was significantly more than other
home types. Condo sales are outperforming the average partially due to the fact that 48% of GTA condos are bought by investors who rent the units. As baby boomers look to make chan-ges in their living arrangements, purchasing a condo here in Mississauga and buying a vaca-tion or second home has become an important lifestyle change. This year is bringing a new set of mortgage rules and a different mindset of potential buy-ers and sellers as the market presses the reset button and we move into 2nd quarter. Sales and prices have started to climb as we exit March and with 2-3 months of inventory we are in a good position to see sales rise in the 2nd quarter which is typically the strongest
quarter for home sales. “We are still experi-encing a shortage of good properties in high demand areas fuelling predictions of stronger growth in the next several months” says Kevin Larose of the Larose Team. The fundamental economic drivers in the GTA are strong- low unemployment rates, increased immigration and higher minimum wages. In March, the number of new MLS list-ings in the GTA posted on Treb totaled 14,866 – a 12.4 per cent decrease compared to March 2017 and a three per cent decrease compared to the average for the previous 10 years. For more information regarding your com-munity and or sold prices in your area contact us at 905.278.7355 or [email protected]
SOUTH MISSISSAUGA MARKET SET TO RISE
Join us on Social Media!
Stay connected and join us on social media. It’s a great way to keep up-to-date with our current listings, market reports, events, and much more.
The team is exceptional, with high standards, excellent communication and a program that makes the competition pale by comparison! It is such a pleasure to work with a true sales pro-fessional with a team that sets a new level of service. Full service from the first meeting to the final detail in the closing!
Complimentary Evaluation CONTACT US and we will provide you with a complimentary and confidential evaluation of the market value of your property. It may be worth more than you think! 905.278.7355Contact us at www.laroseteam.com
- Brad & Maureen Cox #gohomehappy Photo: Brad Cox
Here’s what are clients are saying...
Mineola Market Report April 2018
Laroseteam.com
905.278.7355
Rattray Marsh
Mineola East • Offered at $2,695,000 Mineola East • Offered at $649,999
Mineola East • Offered at $1,750,000Mineola West • Offered at $4,750,000 Port Credit • Offered at $2,999,900
Lorne Park • Contact Kevin for more details
Lorne Park • Offered at $1,798,000
Lorne Park • Offered at $1,489,000
Mineola EastLakeview Port Credit
SOLD SOLD SOLD BUYER REPRESENTED
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NOT YOUR AVERAGE SPRING FLING If you haven’t heard, a lot’s abuzz in Mississauga’s most charming (not to mention up and coming) neighbourhood this season. From farmers markets like no other to an epic art fest you have to see, here are a few good reasons to put Port Credit in your home buying plans.
We’re going to let you in on some insider info—Port Credit’s the next place to be.
And remember—you heard it here first.
And with home prices downtown not budging anytime soon, we’re continung to see that slow, but steady exodus to outlying, yet newly sought-after GTA neighbourhoods continue unabated. One of those areas is Port Credit, and with Lake Ontario at arm’s reach, it’s little wonder why the waterside neighbourhood community is attracting more attention. Not to mention, an abundance of acclaimed bou-tiques, cafes, and restaurants that dot Port Credit’s legendary strip of Lakeshore Road.
Events are a mainstay in Port Credit, and the place is teeming with them. There’s the annual Waterfront Festival, a big hit that runs from June 15th to the 17th. For fans of live, local country music and tribute bands that have no business being as awesome as they are, then this is the festival for you. Also, don’t miss the farmers market each and every Saturday which run from June to October - located in the parking lot at the corner of Lakeshore Road East and Cayuga.
Plus there’s the mettle-testing Mississauga Marathon on May 4th (don’t worry, they’ve got short circuits), and new for this year Mississauga’s ‘Vegfest’, a festival for vegetarians on May 12th at the Port Credit Memorial Arena. Not to be missed is this year’s Canada Day Parade on Lakeshore Road and Memorial Park Celebration on July 1st.
Don’t just take it from us, though. Ask anyone in this neighbourhood and they’ll tell you—it’s hard to beat lakeside living!
