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Year-End Offers Opportunities for Investors and First Time Home Buyers in Real Estate Market

The November average sale price of residential properties across the Greater Toronto Area dropped in November, as was expected, with the average price coming in at $418,460.   But no need to panic as this was still up 14% from last year, when the market had taken a severe dip.

AVG Monthly Selling to December 2009

  
Toronto Real Estate Board President, Tom LeBour, who is a Past President of the Mississauga Real Estate Board, credits the healthy GTA real estate market as being at least partially responsible for helping Canada to pull out of the recession. No doubt he is correct, as every time a family moves, there is a lengthy list of businesses that benefit, such as movers, decorators, repairmen, appliance suppliers, etc. This “ripple” effect is very important to the Canadian economy.

December prices will no doubt also decline from the previous high in October, as many buyers will cease looking for a new home and pause to celebrate the festivities, before resuming an active search in January.  This means that for the next 15 days, or so, astute buyers will do just the opposite.  An added bonus is likely to be the relative absence of multiple offers which would otherwise drive up sale prices in such instances. Wise first-time buyers and real estate investors will benefit substantially if they are willing to act now.  If you are looking for a property in Mississauga, Brampton Oakville and Milton, please do not hesistate to visit my website at http://www.gailsellshouses.com.

Keller Williams Real Estate Associates.
BUS 905-812-8123
 FAX 905-812-8155 DIRECT 905-785-7282
 E-MAIL : mailto:gail@gailsellshouses.com?subject=Mississauga
Website : www.gailsellshouses.com

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