Market Update – Mississauga, Oakville

Thank you for tuning in. I’ve decided to give video blogging up for a bit and switch to writing. Let me know if you prefer this over video.

Let’s a have a quick look at the market in the West GTA for November 2013. Mississauga currently has 1,790 active listings and actual sales posted for November are 705. The total number of sales are actually down by 1% from this time last year, however the listing to sale ration of 2.5 suggests that we are still in a seller’s market. You wouldn’t think when you listen to all the negative press these days. Oakville had 176 sales in November and presently there are 520 active listings. Now this is much higher than last year and with a 3.0 month supply of homes (same as active listings to sold ratio) we are in a seller’s market. This means that all things being equal, prices will continue to rise. This is not a ticket for overpricing your home, in which case it will not sell.

A lot of people are holding off in listing their homes till the New Year. I do understand that December can be a hectic month with kids at home, shopping, Christmas parties, etc., it is still a very good time to get your home on the market. You can decorate your home for the Holidays and make it look very festive and appealing to prospective buyers. You’d be surprised how many people are actually out there looking for homes during this time – maybe even more seriously than any other time of year.

We’ll talk soon.     – Andy