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 Hurontario neighbourhood of Mississauga.
In December, there were 5 One Bedroom + One bath Condos that sold. The average sale price for the one bedroom + one bath suites was $228,800. The sale prices ranged from $185,000 to $295,000. The lowest price suite that sold for $185,000 was from 119 Bristol Rd East. The Mississauga condo that sold for the highest price of $295,000 was from 50 Eglinton Ave West.
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 22 days. In the month of December, the average sold price per listing price was 96%.
How large can you expect these condos for sale in Mississauga to be? The square footage of suites sold in December ranged from 500 – 899 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 5 one bedroom + one bath suites available for sale.
Looking back, we know that 5 condos sold in December, 10 sold in November and 5 sold in October. This gives an average monthly sold rate of 6.7 condos per month. If the demand keeps up, the existing inventory of condos should be leased within 22 days.
With just over 3 weeks 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 96% 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