The housing market in the GTA
continues to flourish, with Toronto at its most expensive center point. As the
average price for detached houses in Toronto climbs north of one million
dollars, interest in cities like Mississauga and Brampton have also climbed. In
April of 2016, house price surveys indicated that versus 2015, the Mississauga
housing market had shown exemplary growth. Average
house prices increased by 8.2%, attributing to an increasing trend: bidding
wars. The demand for reasonably priced real estate is getting higher and
higher, and there aren’t many properties left to take a hold of. This creates a
situation where multiple offers are placed on one property. The seller can take
advantage of this and drive the price even higher, getting the most money for
their investment! The Mississauga housing market is thriving because of this.
Mississauga home sales hit a record nine-year high in 2016,
according to the Canadian Real Estate Association (CREA). If more properties were
available on the market, it is likely that the municipality would have seen
double-digit growth. In December of 2016, the average price of homes was around
$650,000 – up more than 20 percent over the previous year! In such a competitive housing market, it is
important if you are buying or selling in Mississauga to work with the right real
estate team who has experience and a proven track record.
Finding the Right Agent for You
The starting point for a real
estate agent search for many is online. However, there are some online
resources that will offer a bit more information then common searches will. The
Real Estate Council of Ontario (RECO) has their own search tool, and blogs
offering tips and information about the real estate industry and markets in
Ontario. It also offers explanations of the codes and laws binding real estate
agents under the law. Specifically the Real
Estate and Business Brokers Act (REBBA) must be followed and RECO is the
organization that enforces the rules in Ontario on the Government’s behalf.
Using the RECO search agent, you
will only connect with real estate agents who are registered under REBBA. This
search gives you the good news, and the bad news, about any real estate agent
in Ontario. Regulatory activities against the sales agent could include:
- RECO proposal to revoke or refuse the conditions
of a registration
- Any charges under REBBA, or related convictions
- If there are any immediate suspensions ordered
by RECO
- Any disciplinary action related to ethical
conduct by the sales agent
Narrow your search by using this
great tool available to buyers and sellers interested in the Mississauga
housing market. Great firms like JN Asensio, will be able to help guide you
through important decisions about buying or selling property in this area of
the GTA. They are not only experienced with the market, but they live there
too. They have a vested interest in the community and ensuring your
expectations are exceeded. Use the online search to discover more about this
great team of REALTORS®.