Mississauga Real Estate
The city of Mississauga is located in the Greater Toronto Area. City has an important role to play in the national economy as the contribution of its FIRE sector, that is, the Finance, Insurance and Real Estate sectors boasts of the third largest labor force. The current real estate statistics of the region are indicative of the condition of the local market. People, who were secure about their financial standing, even in this dismal global economic scenario, went ahead with their plans of buying property in Mississauga.
The city has recorded the highest population growth in the span of 1986-91 and is at present the fourth most populated municipality in Canada. The growth of this suburban area, within the Greater Toronto Area, is due to its location. It lies close to Toronto. Oakville and Milton lie to the west and southwest of the city respectively. Toronto is located on its east and Brampton on its north. The south and southeastern parts of the city are bordered by Lake Ontario. All these factors have played an instrumental role in the development of Mississauga real estate business.
An analysis of the Mississauga real estate statistics of the year 2008-09 indicate that the sales figures were 50,632 at the end of July 2008 and had experienced a drop of 1.2%. Going with the flow of the market the average price of Mississauga real estate has gone down approximately by 1.5%. The median price recordings show that it touched $339,900 from $325,000 of July 2008.
If one looks at the Mississauga real estate market trends over a period of time, the growth of the market will not go unnoticed. Though the economic downturn may have taken its toll on the same, the market is slowly gaining back its momentum. Reports that date back to January 2008 indicate that the average price of Mississauga homes was around $339,655. It recorded a one percent increase over the figures of January 2007. These figures were inclusive of the sales of detached homes, which accounted 196 sales thereby demonstrating an 8% increase in comparison to the previous year.
The growth in the sales figures was evident in 2006 as well, with a 7% increase over sales figures of 2005. Of the total properties that were sold, 201 were detached homes that were sold at an average price of $448,889. There were 171 Mississauga condominium apartments as well that were sold during this period at an average price of $193,481.