TORONTO, ONTARIO, March 3, 2021 – Record home sales in the Greater Toronto Area (GTA) continued in February as buyers remained confident in their employment situations and took advantage of ultra-low borrowing costs. With multiple buyers continuing to compete for many available listings, double-digit annual price growth was the norm throughout the GTA, with stronger rates of growth in the suburbs surrounding the City of Toronto. GTA REALTORS® reported 10,970 sales through TRREB’s MLS® System in February 2021 – a 52.5 per cent increase compared to 7,193 sales reported in February 2020. Looking at all areas of the GTA combined, thecondominium apartment segment led the way with a 64 per cent sales increase compared to last year, with similar rates of increase in the ‘416’ and ‘905’ area codes.

“It’s clear that the historic demand for housing experienced in the second half of last year has carried forward into the first quarter of this year with some similar themes, including the continued popularity of suburban low-rise properties. It’s also evident that the supply of listings is not keeping up with demand, which could present an even larger problem once population growth picks up following widespread vaccinations later this year and into 2022,” said TRREB President Lisa Patel.

The MLS® Home Price Index Composite Benchmark was up by 14.8 per cent year-over-year in February 2021. Over the same period, the average selling price was up by 14.9 per cent to $1,045,488. While market conditions were tight throughout the GTA region in February, the detached, semi-detached and townhouse market segments in suburban areas were the drivers of average price growth, with annual rates of increase above 20 per cent in all three cases. “In the absence of a marked uptick in inventory, the current relationship between demand and supply supports continued double-digit average home price growth this year. In addition, if we continue to see growth in condo sales outstrip growth in new condo listings in Toronto, renewed price growth in this market segment is a distinct possibility in the second half of the year,” said TRREB Chief Market Analyst Jason Mercer.

Full Report here [PDF]

Formed in 1974, Mississauga is now recognized as Canada’s 6th largest and fastest grow­ing major city with a population of 695,000 residents representing cultures from around the world.
With well-established infrastructure and state-of-the-art facilities, the City is considered to be an employer of choice, delivering quality municipal programs and services to its citizens. The city is a dynamic, diverse and progressive municipality, known for its economic strength and for being Canada’s safest city.

Mississauga Is Canada’s Gateway

Home to Lester B. Pearson International Airport and the greatest concentration of major highways in the country, all of which position Mississauga to serve local, national and international markets and travelers. Also, local public transit is linked to Toronto and other neighboring cities, offering a comprehensive network of bus, subway and commuter train routes.

Mississauga Is Safe

Recognized for being the safest city in Canada, Known major focal point for commercial activity, rich in arts, cultural facilities, parks, entertainment, nightlife and world-class sport and recreational facilities for all interests that attract residents and visitors alike. Therefore, full of tremendous shopping opportunities and home to Square One, Ontario’s largest mall, is the place to shop till you drop.

Mississauga Is A Corporate Capital

Home to more than 18,000 businesses and a major employment center within the GTA, Mississauga houses 50 of Canada’s Fortune 500 offices providing residents with an opportunity to work close to home.

Mississauga Is Green

We have over 481 parks and woodlands with serene tranquil settings or passive and active recreational facilities with our lakefront parks becoming a boater’s haven.

Mississauga features nightlife, world-class sport and recreational facilities, and one of the best and largest shopping malls in Ontario, Square One. For instance, Mississauga also features an extensive corporate district, offering a home to thousands of businesses providing residents with an opportunity to work close to their home. If you’re a student, the city is home to several universities and colleges. For example, one of the best universities situated in Mississauga is the University of Toronto at the Erindale Campus.

It offers a wide selection of dining options, restaurants in Mississauga offer a unique ambiance. The perfect location for a quick bite or a romantic dining experience. Hence, be sure to check out the extensive list of restaurants.

Mississauga appeals to all ethnic communities. Diverse neighborhoods allow you to learn about various cultures and arts. Mississauga is clean, safe and well-maintained. So then, Mississauga real estate has also become the preferred location for technology-driven companies in Eastern Canada and is home to Microsoft.

You can be sure that the city has high standards in education, policing, fire and other services. As a result, the city also features several public and private art galleries, community theatre groups and a state-of-the-art Living Arts Centre situated right at Mississauga City Hall.

A modern city minutes from Toronto’s business core

Connected to Toronto with a convenient transit system that can take you directly to the subway system in Toronto as well as around Mississauga. The popular light rapid rail system called GO Transit is readily available with stations interspersed on two separate lines running through Mississauga to Toronto.

Mississauga has a pleasant mix of housing types most of which is under thirty years old. Match your housing needs with your lifestyle! Single-family homes for all income ranges from the most modest to the most demanding. Single family, semi-detached, condo townhomes, freehold townhomes, and condo apartments are all here for you.

If you’re looking into Mississauga real estate as an investment or as a great city in which to live, you have come to the right place!  With just a few clicks, you can search for homes and everything else Mississauga has to offer.

Mississauga Real Estate Agent Gyanesh Paliwal works with:

REMAX Realty Specialists Inc., Brokerage
(An Independent Member Brokerage)
6850 Millcreek Drive, Mississauga, Ontario L5N 4J9
Phone: 905 858 3434 (24 Hr); Cell: 905 363 2883