Mississauga home sales up year-over-year in December
Residential property sales recorded through the MLS® System of the Mississauga Real Estate Board came in above last year’s softer levels in December 2013; however, the improvement in activity in the second half of 2013 was not quite enough to offset the slow start to the year, leading to a small decline in the 2013 annual sales figure.
Home sales numbered 453 units in December, rising 15 per cent from levels at the same time last year.
On an annual basis, sales in 2013 numbered 9,996. This was a decrease of just 1.5 per cent from 2012.
“December saw another big year-over-year increase in sales activity in Mississauga, although it was again mostly a reflection of a very quiet market at the end of 2012,” said Allan Todd, President of the Mississauga Real Estate Board. “For 2013 as a whole, sales more or less held stable at 2012 levels while average price gains tapped the brakes a bit. That said, prices in the region were still up almost five per cent in 2013.”
The average price of homes sold in December 2013 was $454,935, up 2.3 per cent from December 2012.
The average price of all homes sold in 2013 was $480,982, an increase of 4.8 per cent compared to 2012.
New residential listings numbered 449 units in December 2013, down 18 per cent from last December.
Active residential listings on the Board’s MLS® System numbered 1,260 units at the end of December 2013. This was down 13 per cent from the end of December 2012.
There were 2.8 months of inventory at the end of December 2013, down from 3.7 months recorded one year earlier and below the long-run average for this time of year as well. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
The total value of all residential sales in December was $206.1 million. This was up 18 per cent from December 2012.