Eric Skicki

Breaking New Records In Square One

missisauga-market

The first quarter has been a great start to the 2016 real estate market. With home prices once again at all-time highs, buyers found themselves scrambling in multiple offers trying to find the perfect home. Typically this only occurred with freeholds (houses, semi-detached and townhouses), but for the first time this year, we saw this phenomenon carry out into the condo market.

The following trends are now happening in downtown Mississauga.

More Sales / Low Inventory

The number of condo sales in City Centre in 2016 is up by 30% over the same time period last year.

 

This spike is mainly the result from a few new condo projects that were completed since 2015. This includes Pinnacle Uptown’s Crystal condos and Mirage.

We expect to have even more inventory later on this year as we get ready for the completion of PSV 1 and PSV2.

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