khris
Senior Member
Condos make a comeback
By: John Stewart
jstewart@mississauga.net
June 19, 2009 09:59 AM - After a dip at the beginning of the recession, the resale condo market in Mississauga appears to be making a comeback.
The Toronto Real Estate Board has released new figures showing that, after falling behind sales of single family homes and townhouses in earlier months, condominiums are being resold at a healthy rate once more.
In May, GTA 4,561 condos were sold in the Greater Toronto Area, a two per cent jump over the same period last year.
The average selling price for all homes sold sold was $399,811, a slight drop from $400,817 a year earlier.
"Sellers here in Mississauga are getting between 85 per cent and 105 per cent of the listing price," Debbie Cosic of Sutton Group Signature Realty Inc. of Mississauga told The Globe and Mail.
Cosic said prices for resale condos are particularly strong in the high end markets of Lorne Park, Mineola and the Credit Reserve, located south of the QEW at Hurontario St.
“Calls to our office are up 60 per cent from March and showings of properties are up about 60 per cent as well,†Cosic said.
Part of the reason may be that there are more bidders for fewer properties. Jason Mercer of the Toronto Real Estate Board told The Globe that the number of listings to resell condos have dropped but there are still many anxious potential buyers out there, so units tend to sell quickly and often go for more than the asking price.
Source
By: John Stewart
jstewart@mississauga.net
June 19, 2009 09:59 AM - After a dip at the beginning of the recession, the resale condo market in Mississauga appears to be making a comeback.
The Toronto Real Estate Board has released new figures showing that, after falling behind sales of single family homes and townhouses in earlier months, condominiums are being resold at a healthy rate once more.
In May, GTA 4,561 condos were sold in the Greater Toronto Area, a two per cent jump over the same period last year.
The average selling price for all homes sold sold was $399,811, a slight drop from $400,817 a year earlier.
"Sellers here in Mississauga are getting between 85 per cent and 105 per cent of the listing price," Debbie Cosic of Sutton Group Signature Realty Inc. of Mississauga told The Globe and Mail.
Cosic said prices for resale condos are particularly strong in the high end markets of Lorne Park, Mineola and the Credit Reserve, located south of the QEW at Hurontario St.
“Calls to our office are up 60 per cent from March and showings of properties are up about 60 per cent as well,†Cosic said.
Part of the reason may be that there are more bidders for fewer properties. Jason Mercer of the Toronto Real Estate Board told The Globe that the number of listings to resell condos have dropped but there are still many anxious potential buyers out there, so units tend to sell quickly and often go for more than the asking price.
Source
