Mississauga Home and Condo Prices for December 2011

The average selling price in December was $451,436 – an increase of 4% over December 2010. For all of 2011, the average selling price was $465,412, an increase of 8% in compared to the average of $431,276 in 2010. “Months of inventory remained below the pre-recession norm in 2011. Very tight market conditions meant substantial competition between Buyers and strong upward pressure on selling prices,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “TREB’s baseline forecast for 2012 is for an average price of $485,000, representing a more moderate four per cent annual rate of price growth. This baseline view is subject to a heightened degree of risk given the uncertain global economic outlook,” continued Mercer.