Erin Mills Market Has Changed
Tags: Buyers, Chrchill Meadows, erin mills, full recovery, Homes, houses, mississauga, neighbourhood, resl estate, Sellers, sellers market, townhomes, townhouses
We have seen a dramatic change over the past 6 months in Erin Mills. We have seen a strong buyers market change to a strong sellers market.
Over the past couple of years you heard how prices and sales of real estate in Erin Mills had been diminishing. During the past 6 months we have seen a full recovery and more. Our prices are up over 5% from this period last year. Sales are up over 260% which has driven inventory down by 54%
Homes are on the market 38% less time than last year and we are seeing sellers get 99% + of asking price.
So what does this mean? It means if you are thinking of selling get your home on the market today. Ride the wave that we are experiencing as we have no idea how long it will last. For buyers make sure you have a realtor looking for you as there are deals to be found but the best deals are selling in days. First time buyers get pre-approved now so you can act quickly; know what you can afford and not lose out to someone who has their mortgage financing already in place.Erin Mills is a community that has been created through 4 phases. The first phase, which is known as Erin Mills South, later known as Erin Mills, was built in the early 1970s and continued development through the decade. Erin Mills West was phase 2 of the “New Town” development, and was completed in the mid 1980s. This area used to be part of the town of Oakville until 1974, when the City of Mississauga was established and its westerly boundary had been extended. Erin Mills Central is phase 3, and for the most part, it is fully developed. In this section of Erin Mills, you can find everything from hi-rise condominiums to large low density housing. The focal point of Erin Mills Central is the Erin Mills Town Centre, a great shopping centre for anyone. Erin Mills Town Centre was completed in 1989, and today it is one of the most well known shopping centers in Mississauga. You can also find the Credit Valley Hospital, which is the largest in Mississauga. The final phase, phase 4 is Churchill Meadows and is currently under development. Many of the new buildings are medium density residential, single detached, town or row houses. This section of Erin Mills borders the mostly rural section of the town of Milton.
Unlike most areas of Mississauga which are limited to resale homes. Erin Mills continues to grow with “Churchill Meadows” continuing to be developed. You can still buy a new home or one a few years old if you are looking for all the modern upgrades and conveniences. Here you will find affordable, detached, town homes or row houses with the convenience of Erin Mills Town Center within walking distance.
Homes are on the market 38% less time than last year and we are seeing sellers get 99% + of asking price.
So what does this mean? It means if you are thinking of selling get your home on the market today. Ride the wave that we are experiencing as we have no idea how long it will last. For buyers make sure you have a realtor looking for you as there are deals to be found but the best deals are selling in days. First time buyers get pre-approved now so you can act quickly; know what you can afford and not lose out to someone who has their mortgage financing already in place.Erin Mills is a community that has been created through 4 phases. The first phase, which is known as Erin Mills South, later known as Erin Mills, was built in the early 1970s and continued development through the decade. Erin Mills West was phase 2 of the “New Town” development, and was completed in the mid 1980s. This area used to be part of the town of Oakville until 1974, when the City of Mississauga was established and its westerly boundary had been extended. Erin Mills Central is phase 3, and for the most part, it is fully developed. In this section of Erin Mills, you can find everything from hi-rise condominiums to large low density housing. The focal point of Erin Mills Central is the Erin Mills Town Centre, a great shopping centre for anyone. Erin Mills Town Centre was completed in 1989, and today it is one of the most well known shopping centers in Mississauga. You can also find the Credit Valley Hospital, which is the largest in Mississauga. The final phase, phase 4 is Churchill Meadows and is currently under development. Many of the new buildings are medium density residential, single detached, town or row houses. This section of Erin Mills borders the mostly rural section of the town of Milton.
Unlike most areas of Mississauga which are limited to resale homes. Erin Mills continues to grow with “Churchill Meadows” continuing to be developed. You can still buy a new home or one a few years old if you are looking for all the modern upgrades and conveniences. Here you will find affordable, detached, town homes or row houses with the convenience of Erin Mills Town Center within walking distance.
Not only has the market of Erin Mills changed; so has the appearance. With the new developments underway Erin Mills has been given a facelift in a sense attracting a younger population. I do recall driving by the farms on Winston Churchill and passing the slower drivers who were on horse back; I guess, “The times they are a changing.”
Ed Horbaczyk
Sales Representative with Signature Service GMAC Real Estate
http://www.gtagent.com
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