Potential homebuyers in the Mississauga area are still dealing with lack of supply, an issue that has been ongoing for close to a year. According to the Mississauga Real Estate Board (MREB) there are more buyers competing for fewer homes, which has led to continuously rising prices.

Property sales recorded through MREB’s MLS System came in below year-ago levels in February 2015. Home sales numbered 609 units in February, down six percent from levels in the same month in 2014.

The average price of homes sold in February 2015 was $536,489, up nearly 10 percent from February 2014. New residential listings numbered 1,008 units in February 2015, tumbling 17.6 percent from February 2014.

Active residential listings on the Board’s MLS System numbered 1,315 units at the end of February 2015. This was down 13.8 percent from the end of February 2014.

The total value of all residential sales in February was $326.7 million. This was up 3.1 percent from February 2014.