Mississauga and GTA Real Estate Market December 2020

Monday Jan 11th, 2021

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Mississauga and GTA Real Estate Market December 2020

 

In this post I will examine how Mississauga compared to the rest of the GTA Real Estate Markets in December 2020.

 

Watch the video below, or keep scrolling!

 

 

The Toronto Real Estate Board tracks a total of 27 towns/cities in the Greater Toronto Area.  I'll show you the Top 5 markets for the following statistics, as well as where Mississauga placed:

1) Number of Solds

2) Average Sold Price

3) Average Days on Market

4) Sales to New Listings Ratio

5) Sold Price to Listing Price Ratio

 

Number of Sales:

1) Toronto Central    1396

2) Brampton             735

3) Toronto East         683

4) Mississauga          673

5) Toronto West        634

 

Being the 2nd largest city in the GTA, it's not surprising that Mississauga is in the top 5 here.  You'll notice that Toronto is divided into West/Central/East in TREB stats.

Average Sold Price:

1) King                          $1 671 311

2) Caledon                  $1 321 989

3) Oakville                   $1 306 329

4) Richmond Hill      $1 142 803

5) Vaughan                $1 137 935

19) Mississauga         $872 865

 

Cities like Toronto and Mississauga - with lots of condos - usually won't be found here.  These cities are usually larger land/estates.

 

Average Days on Market:

1) Oshawa                   10

1) Whitby                     10

1) Ajax                           10

4) Milton                      12

5) Brampton              14

14) Mississauga         23

 

Average Days on Market will show you how popular these markets are - the homes don't last long!  You'll be seeing the Durham cities of Oshawa, Whiby and Ajax in the next two statistics as well.  Mississauga homes took about two weeks longer to sell than the top markets!

 

 

Sales to New Listings Ratio (SNLR) (12 Month Average):

First a short explanation as to what this means:

Less than 40%: indicates Buyer's Market (more new listings than buyers)

Between 40 to 60%: Balanced Market

Greater than 60%: indicates Seller's Market (more buyers than new listings)

The ratio is given as a 12 month average, individual months can sometimes swing dramatically.

 

1) Ajax                         79.7%

2) Halton Hills           78.9%

3) Oshawa                  78.7%

4) Whitby                   77.6%

5) Brock                       77.1%

19) Mississauga         60.8%

 

The top 5 cities here are firmly Seller's markets.  As we saw above with Days on Market, now is a great time to be a seller in Durham (Oshawa, Ajax, Whiby).  Mississauga is so close to the "Balanced" range, that it's not responsible to call it a Seller's Market at this time.

Sold Price to Listing Price Ratio:

Anything over 100% means that properties are selling for MORE than listing price.

1) Oshawa                   110%

2) Ajax                          107%

2) Whitby                    107%

2) Clarington              107%

5) Toronto East           105%

16) Mississauga           100%

 

Again we see that it's a good time to be a seller in Durham!  Homes there are selling 7 - 10% over listing price on average.  Nothing exciting to report in Mississauga - we're getting exactly what we ask on average!

 

Toronto and Peel were under lockdown all of December, and the GTA followed after Christmas.  How will the lockdowns affect the GTA Real Estate Market?  

 

Bookmark my blog or subscribe to my YouTube channel if you want to find out!

 

Have a Question or Comment? Want to know the value of your home?  Feel free to reach out!

 

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