Mississauga real estate market conditions
The real estate market is always changing. It helps to understand how
Mississauga market conditions can affect your position as a buyer or a seller. Amit can provide
you with current Mississauga real estate market conditions-buyer's market/seller's
market/balanced market and explain their impact.
One can experience a buyer's, seller's or a balanced market at the same
time. This can be true for different price ranges or types of properties
at a given time, e.g. there can be a buyer's market for homes/ condos in
a particular price range and a seller's market for another price range.
Again, this can be true for different neighbourhoods/
condominium complexes.
|
Market Conditions |
Characteristics |
Implications |
Buyer's Market: The supply of homes on the market exceeds demand.
|
High inventory of homes. Few buyers compared to availability. Homes
on the market longer. Prices tend to drop. |
More time to look for a home. More negotiating leverage. |
Seller's Market: The number of buyers wanting homes exceeds the supply
or number of homes on the market.
|
Smaller inventory of homes. Many buyers. Homes sell quickly. Prices
usually increase. |
May have to pay more. Make decisions quickly. Conditional offers
may be rejected. |
Balanced Market: The number of homes on the market is equal to the
demand or number of buyers.
|
Demand equals supply. Sellers accept reasonable offers. Homes sell
within an acceptable time period. Prices generally stable.
|
More relaxed atmosphere. Reasonable number of homes to choose from. |
The sales-to-new-listings ratio measures the balance between demand
and supply. A ratio of above 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 home/condo sales and the sales-to-new-listing
ratio of below 35 percent.
If you are thinking to buy or sell your home/condo or a new builder
condo apartment in Mississauga, call Amit to
know more about the present real estate market conditions- buyers,
sellers market, or balanced market that may be at play.
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