Mississauga Real Estate Market Update Mid March 2011

As the spring Mississauga real estate market gets in to full swing and more and more people get ready to sell or buy a home in Mississauga, the Toronto Real Estate Board has released their Mid March housing market update.

Following the same trend as last month, the number of sales is down close to 5% compared with the same time last year. Another interesting trend is that the number of listings is significantly down- close to 14%. Prices are up almost 5% from the same time last year, all signs indicating a strengthening economy and a healthy buyer demand for homes.

Jeff O'Leary's take on the Mississauga Real Estate Market is that we are still experiencing a sellers market, where well priced, well presented homes are selling fast and for top dollar. It is a great time if you are thinking of selling.

If you are a buyer, it's also a good time. Unlike last year where it seemed every home was in a bidding war with multiple offers, the tempo this year has slowed down to a point where you can negotiate and get a home for a good deal.

Update- as of March 18th, the 35 year ammoratization on CMHC insured mortagages has ended meaning the longest ammoratization period for anyone buying with less than 20% down is 30 years. In terms of interest rates, while they have gone up slightly over the past few months they remain at historically low levels.