Spring is (almost) in the air, and with it comes a shift in the real estate market (Usually)! Staying on top of the latest trends is crucial—so we’ve done the work to weed out what really matters.
Here’s what you need to know (keep reading for an exclusive behind the scenes take below that will surprise you):
Home Prices
The average selling price is currently $1,084,547, reflecting a slight dip of -2.2% compared to last February.
How Long Does It Take to Sell?
On average, homes are receiving offers in about 28 days, with closings typically happening within 30 to 90 days after that. If you’re thinking of listing, now’s the time to start prepping!
More Homes Hitting the Market
New listings have increased by 5.4% compared to last year, meaning buyers have more choices.
What This Means for You
With a modest price adjustment and more inventory, the market is offering some relief to buyers, particularly in the condo and townhouse segments. Sellers, while prices have softened slightly, well-presented homes are still moving at a steady pace. The key? Strategic pricing and proper preparation.
Thinking about making a move? Let’s talk about your plans and put together the right strategy for you.
Behind the Scenes
In just two days, the Bank of Canada will make its next big announcement—and all eyes are on whether they’ll cut rates again. Economists are leaning toward another reduction, but nothing is set in stone just yet.
With recent cuts already giving homeowners and buyers some relief, another drop could mean even lower borrowing costs. But as always, lenders move at their own pace, and not all rate changes are created equal.
What We’re Seeing in the Market Right Now
We’re seeing more buyers coming back! Right now, over 40 homes in Mississauga are sold conditionally, and another 30 have sold in just the past six days. In certain areas, well-priced homes are selling over asking (25% of the 30 homes sold over asking in March). If you’ve been holding off on selling, now might be the time to start prepping!
Unsure about how this impacts you? I am here to chat.
