According to stats released by the Mississauga Real Estate Board (MREB), 7,265 homes have traded hands so far this year, up 1.4 percent from the first eight months of 2013. The average price of homes sold in August 2014 was $483,885, up 5 percent from August 2013.
There were 807 home sales during August 2014, down about 3 percent when compared to August 2013. New residential listings numbered 1,401 units in August 2014, down three per cent from last August.
Active residential listings on MREB’s MLS system numbered 2,046 units at the end of August 2014. This was down 6 percent from the end of August 2013.
There were 2.5 months of inventory at the end of August 2014, unchanged from the same time last year and below the long-term average for this time of year. 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 August was $390 million. This was up two per cent from August 2013 and the highest dollar volume for any August on record.