Formed in 1974, Mississauga is now recognized as Canada’s 6th largest and fastest growing major city with a population of 729,000 residents representing cultures from around the world. Home to Canada’s largest airport, Toronto Pearson International, Mississauga is considered Canada’s gateway.
Mississauga has more than 480 parks and 23 major trail systems including part of a 485 mile (780 km) waterfront trail running from Niagara-on-the-Lake to the Quebec border.
Mississauga offers family-oriented sports, leisure and arts facilities with 11 community centres and a vibrant downtown city centre with major retail, office, entertainment and condo living.
May 2020 Summary
The Toronto Regional Real Estate Board reported the following for the GTA for the month of May 2020:
- The AVERAGE SALE PRICE in May 2020 was up by 3% year over year
- The NUMBER of SALES was down by 53.7% compared to May 2019
- The NUMBER of NEW LISTINGS was also down 53.1%
These numbers include ALL of the GTA and ALL housing types (detached, semi, town, condo apt, condo town). As expected, the number of sales AND the number of new listings were down across the Greater Toronto Area (GTA). All things being equal, the inventory of homes for sale is very low, so demand still far exceeds supply in most markets. This means that home prices will continue to trend upwards so long as conditions remain the same.
To help decipher the data in the adjacent table, when the Sales to New Listings Ratio (SNLR) is:
- 55% or more = SELLER’S MARKET = more buyers than properties for sale
- Between 36% and 54% = BALANCED MARKET = about the same number of properties for sale as there are buyers
- 35% or less = BUYER’S MARKET = more properties for sale than there are buyers
|Average Sale Price||$1,118,835||$1,098,973||1.8%|
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