How is the real estate market? To truly appreciate what is happening in a neighbourhood, you need to look at statistics specific to that neighbourhood. That is why we generated this report for the Square One neighbourhood of Mississauga.
In December, there were 13 One Bedroom + One bath Condos that sold. The average sale price for the one bedroom + one bath suites was $259,362. The sale prices ranged from $213,000 to $309,000. The lowest price suite that sold for $213,000 was from 55 Elm Drive. The Mississauga condo that sold for the highest price of $309,000 was from 360 Square One Drive.
How fast are these suites selling for? The average days on market for these one bedroom + one bath condos in the month of December was 20 days. In the month of December, the average sold price per listing price was 98%.
How large can you expect these condos for sale in Mississauga to be? The square footage of suites sold in December ranged from 500 – 799 square feet.
What does the future entail for those in search of Mississauga Condos for sale? Though nothing can be assured with absolute certainty, it is always a good rule to calculate months of inventory when predicting future trends.
As of January 30th while we are carrying out these calculations, there are 31 one bedroom + one bath suites available for sale.
Looking back, we know that 13 condos sold in December, 23 sold in November and 27 sold in October. This gives an average monthly sold rate of 21 condos per month. If the demand keeps up, the existing inventory of condos should be leased within 1.5 months.
With 1.5 months of inventory in the market, we can continue to expect prices of Mississauga condos to keep going up at a steady pace. Though it is not common to see many multiple offers, condos will sell close to asking price as we are seeing happen with sellers receiving 98% of asking price on average for these 1 Bedroom + 1 Bath condos.
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The Relationship between Inventory and Prices of Mississauga Condos for Sale