Over the past 2-3 weeks I have been working with several buyers, all looking for a condo at or near Mississauga’s downtown core. The universal problem I am experiencing is locating a property, that fits my clients’particular criteria and which doesn’t sell within the first 5 days, while on the market. By the time my clients get to see the condo, think it over and give me the “go-ahead” to make an offer; that property ends up being sold. Just last Saturday, I had 9 showings booked ahead of time, only to be told that there are no more viewings for 4 of those condos as the properties were already sold conditionally.
What does that mean for Mississauga condo buyers? The Mississauga condo market is hot and time is of essence. If you see a property you like, consider the fact that it might be off the market in a few hours. Also be prepared to go into a multiple offer situation and don’t be surprised if a unit ends up selling over asking price.
The next interesting fact which I would like to point out is the current residential locations of my potential condo buyers. I am having clients contact me from London (Ontario), Hamilton, Brampton, Barrie, Ajax and even Ottawa and Montreal, all hoping to find a condo in downtown Mississauga. When asked why they want to move to Mississauga, I am given a number of reasons ranging from economic growth to believing that Mississauga is a good investment in terms of both personal and private aspects.
This of course is a great sign that people do in fact want to move to Mississauga, since they see the city as, fast paced, expanding and hence with arising opportunities as compared to the city they currently reside in. I do expect this trend to follow in the coming months.
Questions?Comments? Please contact me.
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