Mississauga and Toronto Real Estate Market Update

With the summer weather now upon us, buyers and sellers are making up for lost time with that quick spring, in this summers real estate market. As most Canadians are watching mortgage rates rise, they are deciding now is the time to buy and lock in at these relatively lower interest rates before they rise. With the housing prices on the increase and limited inventory in Mississauga and Toronto areas, sellers are also enjoying a great market as they are getting top dollar for their property.

Last month we saw a new record set for the number of properties sold. The Toronto Real Estate board announced over 11,000 sales took place in the month of May 2007 up 18% compared to May 2006. In the Mississauga W12 areas of Cooksville and Port Credit saw an increase in sales compared to a year ago. The Multiple Listing Service MLS® showing over 23000 listings last month resulted in 11000 sales. This is quite a stat to behold and thus indicates a very hot real estate market.

With the weather cooperating now, people have been busy looking at new places to buy and looking for that perfect place and location that fits their needs.

Buying or Selling – Call Leif Kalaas today