Hi Everybody...

We are searching freehold townhouse/semi in mississauga..
The location we are interested in is around erin-mills, churchill medows, medowvale...basically near GO stations and good school areas..

We have been looking houses past one month..but whenever we like any house, there seem to be multiple offers on it, causing the price shoot..Being first time home buyer I really hate this situation.

Can any expert give me advice as what are the going prices for semis in these areas..Will waiting till december help??

seeking advice from experts..

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Yes the market is very hot. Especially for homes in affordable price ranges.

There are two main reasons:

1. Historical low interest rates
2. Acute shortage of listings (imbalance)

Three out four homes that I listed last month were sold with multiple offers in just 4-5 days.

If you are working with a Realtor chances are that you will see new listings as soon as they hit the TREB MLS (same day).

In case you are relying on realor.ca (public website) your chances to find a good home becomes far less, because good listings get snapped up in matter of hours.

Having said the above, there is no need to panic and it may not be a bad idea to wait for the real estate market to cool down.

If you cannot wait then you should be prepared to bid over asking price (make sure that you do not end up paying way over fair market value).

Here are some options when in multiple offers scenario http://condopundit.com/wordpress/?p=121

Semis detached homes range from approx. $325,000 to $420,000 ( approx. 1400 to 2000 sq ft)

Regards,

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Amit Kalia, Broker, REALTOR®
RE/MAX Real Estate Centre., Brokerage
independently owned & operated
100 City Centre Dr, Unit 1-702
Mississauga, ON L5B 2C9
Phone No.: 905-339-5111
Website: https://www.realestate-ontario.com/
Condo Blog: https://condopundit.com/blog/