Category Archive: News

The Port Credit Annual Real Estate Review For 2017 Is Here

Real Estate activity in Port Credit for the year of 2017 was a tale of two markets.

The intense demand during the first half of 2017 produced 82 sales at an average sale price of $1,027,412. Listings where selling for 102% of list price and taking just under two weeks to sell on average. Fast forward to the six month period ending December 31, 2017 and these four benchmarks had all trended down. The last six months of 2017 saw 61 sales at an average sale price of $910,969, and these properties took 25 days to sell on average.

The same balancing pattern was found in the overall average list to sale price ratio as it dropped to 96% for the last six months of 2017. On average, during this time frame condo apartments where generating a sale at 98% of list price and townhouses at 97% of list while detached home listings produced a sale at 94.5% of list price on average.

By the time the year was over, the Port Credit real estate market saw 324 new listings come on the market on The Toronto Real Estate Board. However, this six year high in listings also produced a six year low sales to new listings ratio with 44% of new listings resulting in a sale.

Despite the fact that a lower percentage of listings generated a sale, the overall annual trend in sale prices continued to increase.

2017 saw the overall average sale price rise by 3% from 2016 to $969,190 for 2017. Detached houses saw the largest annual increase of any property type as the average sale price hit $1,440,500. With only six out of thirty five detached home sales selling for under one Million dollars, the brass ring of home ownership in Port Credit cost over 21% more on average than it did in 2016.

All that our neighbourhood has to offer continues to make Port Credit a destinantion of choice for home buyers.

For help finding your home in Port Credit or along the Lakeshore West, I invite you to contact me here.

For a more detalied report on detached home sales in Port Credit in 2017 click here. Townhouse activity can be found here, condo apartments here and semi-detached home sales activity can be found here.

The Port Credit Autumn 2017 Real Estate Review Is Here

The balancing continues but Port Credit remains an exclusive real estate destination.

The third quarter of 2017 saw 75 new listings came on the market in Port Credit. Considerably more than the 45 new listings for the same period in 2016, but a drop of 31% less than the stream of 106 new listings that came on the market during Q2 of 2017. This steady supply of inventory resulted in 28 sales and a return to more balanced negotiations between buyers and sellers. Properties sold at an average of 95% of list price versus the full 100% acheived by sellers during Q2 of 2017.

As buyers where happy to see bidding wars become more rare during Q3 2017, the cost of buying a home in Port Credit remained at a premium. When considering the average sales price of $733,627 for all of Mississauga, buyers proved willling to pay over one third more to live in the Village On The Lake as the average sale price in Port Credit year-to-date at September 30, 2017 hit $978,118.

My breakdowns on activity by property type in Port Credit are available here for detached homes, here for semidetached homes, here for condo apartments, and here for townhouses. The overal market breakdown is here.

For help with your Port Credit and Lakeshore West real estate questions I invite you to contact me here.

GTA Lakeshore West Real Estate At A Glance. Spotlight On South Mississauga.

If you are moving to the Greater Toronto Area West and want a detached home, townhouse, semi or condo apartment within minutes of the GO station, the lake, parks, shops and restaurants, then the GTA Lakeshore West is certainly worth checking out. From Mimico to Kerr Village, the neighbourhoods located along the Lakeshore West provide a walkable lifestyle and housing options for diverse home buyers.

For help with your home search I invite you to contact me here. To help get you started, I have organized this breakdown of property types and average sale prices ( based on TREB stats from January 1, 2017 to June 30, 2017 ) for homes found in the unique Lakeshore West neighbourhoods of South Mississauga.

Port Credit

Lakeview South

Clarkson

 

GTA Lakeshore West Real Estate At A Glance. Spotlight On Downtown Oakville.

If you are moving to the Greater Toronto Area West and want a detached home, townhouse, semi or condo apartment within minutes of the GO station, the lake, parks, shops and restaurants, then the GTA Lakeshore West is certainly worth checking out. From Mimico to Kerr Village, the neighbourhoods located along the Lakeshore West provide a walkable lifestyle and housing options for diverse home buyers.

For help with your home search I invite you to contact me here. To help get you started, I have organized this breakdown of property types and average sale prices ( based on TREB stats from January 1, 2017 to June 30, 2017 ) for homes found in the unique Lakeshore West neighbourhoods of downtown Oakville.

Downtown Oakville

Kerr Village /West River

 

 

 

GTA Lakeshore West Real Estate At A Glance. Spotlight On South Etobicoke.

If you are looking for a home in the Greater Toronto Area West within minutes of the GO station, the lakefront, parks, shops and restaurants, then the GTA Lakeshore West is certainly worth checking out. From Mimico to Kerr Village, the neighbourhoods located along the Lakeshore West provide a walkable lifestyle and diverse housing options for home buyers.

For your home search questions I invite you to contact me here. To help get you started, here is a breakdown of property types and average sale prices ( based on TREB stats from January 1, 2017 to June 30, 2017 ) for homes found in the unique Lakeshore West neighbourhoods of South Etobicoke.

Mimico

 

New Toronto

 

Long Branch

The Port Credit Summer Real Estate Review 2017 Is Here!

Summer has brought the sunshine and a welcome upturn in temperature, but the red hot Port Credit real estate market shows signs of balancing. New listings during Q2 2017 where up in a big way and sale prices increased, but the rate of sales did not keep pace.

106 new listings came on the market in Port Credit in Q2 2017 providing 60% more options than the 66 new listings during the same time period in 2016, and 49% more than the 71 new listings in Q1 2017. Year-to-date as of June 30, 2017, 177 new listings had come on the market in Port Credit. An increase of 40% more than the 126 new listings during the same period year-to-date in 2016.

Despite the surge of inventory, the sales to new listings ratio dropped from 55% in Q1 2017, to 41% of new listings in Q2 2017 resulting in a sale. A 30% drop from last year’s feverish spring market of Q2 2016 which saw 71% of new listings lead to a sale. Although the total of 43 sales in Q2 2017 was up by 10% from the 39 sales in Q1 2017, it was down by 8.5% compared to Q2 in 2016, despite having 40% more new listings than last year. Overall for the year to date as of June 30, 2017 the 177 new listings have translated into 82 sales. Only two more than the 80 sales year-to-date for the same period in 2016.

Average and median sale prices where up. Thirteen detached and five in-fill semi-detached home sales helped push the average sale price up to $1,124,079 in Port Credit for Q2 of 2017. Thats almost 25% more than the $900,410 average sale price during the same period of 2016, and over 20% higher than the $930,746 average sale price seen in Q1 2017. Year-to-date at June 30, 2017 the average sale price in Port Credit broke the Million dollar mark at $1,027,412.50. Again, up by almost 15% compared to the average sale price of $894,984 for the same period year-to-date at June 30, 2016.

The 18 combined sales of detached and infill semi-detached homes in Q2 2017 also raised the median sale price up to $1,125,000. An increase of over 28% above the median sale price of $875,000 during the same time period in 2016. However, a larger sample size of YTD numbers at June 30, 2017 reveals a more moderate median sale price of $888,000. An increase of 5% over the median sale price of $845,000 for the same time period in 2016.

If you would like a full breakdown of the Port Credit sales activity in Q2 2017 by property type, please contact me and I would be happy to send you a copy.

Happy house hunting!

The Port Credit Spring 2017 Real Estate Review Is Here!

Fewer listings and sustained demand combined to create a brisk start to the real estate market in Port Credit for 2017.

On average, during the first quarter of 2017, homes in Mississauga’s jewel on the lake where selling in 14 days and for 105% of list price. Thats 42% faster than the 24 days it took on average one year ago, and over 7% more than the already impressive 98% sale/list price ratio experienced during the same time in 2016.

 

 

 

 

 

 

 

 

 

 

The Toront Real Estate board reported the sale of 31 properties made up of 5 detached, 2 semi-detached, 13 townhouse and 11 condo apartments. Although that figure is down from the 37 sales in the previous quarter of 2016, it kept pace almost exactly with the 32 sales reported for the same time period in 2016.

The full breakdown of activity is available here in my Port Credit Market Update for Q1 2017.