Mississauga real estate market May 2010

Mississauga real estate market May 2010

A buyer’s market condition takes place when supply of homes exceed demand. The sales-to-new-listings ratio measures the balance between demand and supply.

A ratio of 55 to 60 percent for a sustained period of time points to the seller’s market conditions. A ratio below 55 percent is consistent with more balanced market conditions. The buyer’s market represents a downward trend in sales and the sales-to-new-listing ratio of below 35 percent.

Mississauga real estate market May 2010

A quick glance at April 2010 Toronto Real Estate Board’s (TREB) market watch will show Downtown Toronto’s condo apartment market’s (C1) sale to active listing ratio (S-A ratio) of 38.5%, meaning we are almost in a buyer’s market.

In Downtown Mississauga (W15), things still look pretty balanced; condo apartments’ S-A ratio is 50.2%. I already see a downward trend in condo apartment prices since past two months or so. The interest rates hike and HST have already started to show their short term (hopefully) effects.

This may be a good time for buyers looking for bargain sales. There could be some sellers looking to cash out soon.

If you are thinking of selling in today’s market, let me know.

A good combination of right pricing and marketing strategy can bail you out. Local experience and a strong support of real estate professionals should be working in your favour, when you need the most.

Take a look at some of Mississauga listings for sale and rent.