By: Ricardo Medeiros

Mississauga Real Estate Market Report for March 2020

Tags: Detached house prices in Mississauga, Semi-Detached house prices in Mississauga, Townhouse prices in Mississauga, Condo prices in Mississauga, Freehold house prices in Mississauga

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Hello, Ricardo Medeiros here with Re/Max Real Estate Center making you the detached market report for Mississauga for March 2020. Today's April 15, 2020. I know these are some difficult times and I hope you who is watching this video are doing well, as well as your family and everybody you know. All the best goes out to you. Anything I can do to help, any questions that you have, my information's below and wishing you all the best.

This is my first detail report for Mississauga and we are going to go over detached homes, semi-detached homes, condos, townhouses and freehold. The first one, as you can see on the screen, is for detached homes. It's a little bit more detailed than my usual reports for the GTA. We'll start off with the average sale price. This is for $1.26 million is the average sale price for detached homes in Mississauga for March of 2020. I want you to also keep in mind that we had a hot market in the first half of March, but when everything started going on lockdown and the restrictions were really strict with showings and so forth and people were backing away from selling and buying, the market started shifting towards mid to late March. I'm sure you'll see these numbers change in April. I just wanted to make you aware of that. That is the average price for March.

Now let's go on to the new listings for March of 2020, 514. New sold properties, 226. The average asking price is $1.46 million. Average days on the market, 13 days. Average ask to sell ratio 1.02. Now, let's look at this here, the average price of $1.26 million. It says here, March 2020 the average sell price was $1.26 million. This is a 12.87% increase from March of 2019. Year to date, 2020 the average sale price was $1.25 million at 13.47 increased from March 2019.

Let's look at the sold properties here. March 2020 there were 226 properties sold. That's an 11.02 decrease from March of 2019. Year to date 2020, there were 617 sold properties, a 16.86% increase from March 2019. Here you'll see blue indicates current year, red indicates prior year, so these were all for your solds. So basically March of this current year, 226 solds for detach, last year was 254. So there's the decrease in sales from March 2019 to March 2020. You'll see all these details here on the page. It's pretty in depth, getting more into the detail of the numbers.

We could also email this to you as a digital copy or even print one out and mail it to you to your home if you'd like. Always request any type of update that you would like, any market report, we're more than happy to share that with you.

Let's move on to semi-detach. So semi-detach, the average sell price is $838,000 for March of 2019. Sorry, for 2020. I apologize. And the average days in the market was only six, so there was a very high demand for the semi-detaches. Again, being on the lower price point, they do tend to sell a lot quicker, and you'll start seeing the difference in prices will gradually go down from condos, townhouses, and freeholds. So usually the most expensive, naturally, is detached. Your second will be semi-detach, third will be freehold, then townhouses, then condo. Condo usually the most cheapest you can buy.

New listings. 184 new listings for March for semi-detach. 110 were sold. The average asking price 847. Average ask to sell ratio, 1.045. So most properties were selling over asking. That's why you're seeing this average ask to sell ratio. So most properties were selling over ask.

Let's have a look here. March 2020, the average sell price was $838,000, a 16.11% increase from March of 2019. Year to date 2020, the average sell price was $835,000 a 13.25% increase from March of 2019. Now when it says year to date 2020, I just did these reports yesterday, which was April 14. So although I'm doing a report for you for March of 2020, when I'm saying a year to date anywhere, you'll still be for April 14 of 2020. But these numbers here are for March, okay. So property sold in March 2020 were 110. March 2020 there were 110 properties sold, a 0.92% increase from March of 2019. Year to date 2020 there were 252 sold properties, a 16.13% increase from March of 2019. So this is for your semi-detached.
Let's move on to freehold. So freehold, the average sold price was 819,000. So we see this here. New listings for freehold, 32. Sold freeholds for March of 2020 were 21. The average asking price, 823,000. Average days on the market, only five. Now keep in mind, I've been very active with the market myself with my clients and when you're seeing six days or five days or even more, it's because some agents hold off on offers, because the market has been so hot that properties would sell immediately on the day that they hit the market. So that's probably why, just in case you're thinking why is it five days or six days or 11 days or so forth, it's just because some agents hold off on offers for those.

Let's go here to March 2020. The average sale price was 819,000, a 17.02% increase from March 2019, and year to date. So that's til April 14 when this was done. The average sale price was 808,000, a 10.04% increase for March 2019.

Let's go on to townhouses. The average sold price for a townhouse was 671,000. New listings for March 2020, 203. Sold in March for townhouses, 143. Average asking price, 652. The average days in the market, nine. So March 2020, the average sale price was 671,000, a 13.74% increase from March 2019. Year to date 2020, the average sale price was 660,000, a 12.58% increase for March 2019. Again, you'll see these stats here, current year and prior year, March, February, January. This will go back six months. So you can have a better look at that there. You can always pause if you want to look at any of these reports more in detail, or again, if you want me to email you one out, send you a digital copy or print, I'm more than happy.

Let's go on to the fifth and final type of home in Mississauga for market updates for March of 2020. So this is for the condos. So 540,000 is the average price for a condo in Mississauga in March of 2020. There was 366 new listings, 193 that were sold. Average asking price, 565,000. Average days on the market, 11. Average ask to sell ratio of 1.04. So March 2020, the average sale price was 545,000 at a 17.34% increase from March of 2019. Year to date 2020, the average sale price was 548,008, a 20.37 increase for March of 2019.

So again, very strong market, but we are definitely going to see a difference in all these numbers when I do my April report, because the market was still very strong for the first half of March. So I'm looking forward to helping any od you with your buying or selling needs. Any questions, any information regarding the real estate market, I'm always a phone call or email away.