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.