Home sales valuing a total of $174,793,011 were recorded in Mississauga this December. That's down 42 per cent from the November total, and 20 per cent higher than the total in December 2006.
Over the course of the month, 515 residential properties traded hands in the area served by the Board. This is a decrease of 40 per cent from November; this represents a two per cent decrease over December 2006.
The average price of homes sold this December through the local MLS® system in Mississauga was $339,404, which is two per cent lower than the average recorded in November 2007 and 22 per cent above that recorded in December 2006. The Board cautions that the average residential price is a useful figure only for establishing trends and comparisons over a period of time. It does not indicate an actual price for a home due to the wide selection of housing available in the area.
The latest residential MLS® forecast prepared by The Canadian Real Estate Association says that national MLS® home sales activity will break all previous annual records in 2007 before easing next year to its second highest level ever. Activity is forecast to edge slightly lower in 2008, but prices are forecast to set new records this year and in 2008.
The CREA forecast notes that MLS® average price increases will be smaller next year. In Ontario, the CREA forecast says 206,850 residential units will be sold through the MLS® systems of Boards and Associations in Ontario in 2008, a 2.5 per cent decline from 2007. The average MLS® residential price in Ontario is expected to increase 4.5 per cent in 2008, to $308,700.
A total of 556 new residential listings were added to the local MLS® system in Mississauga this December, down 52 per cent from November. At the end of the month there were 1,406 active residential listings posted by Mississauga REALTORS® on the local MLS® system.
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