Erin Mills real estate, for the first time this year, along with the rest of the Mississauga market has softened. In June, we saw unit sales decrease over last year at this same time by approximately 20% which is the first sign that the market has cooled slightly. The average home price in June 2009 was $385,766. This has increased to $448,285 in the W16 area for June 2010 - which includes the Erin Mills neighbourhood. This is a slight decrease in average price from this year's spring market.

In the last couple of months, we have seen an increase in properties on the market. The average days on the market for a home has declined by almost 30% over last year to 19 days from 29 days. The final % of sale price has remained the same from June 2009 - being 98%.

What does all this mean? For sellers, correct pricing and condition of your property are of utmost importance. I can advise you on both these important issues.

For the buyers, with increased inventory there is more to choose from. There are less bidding wars and prices have softened slightly. It is important that you are working with a realtor so that you are able to receive new listings the moment they come on the market. If you search on your own, you will be looking at older listings that tend to be overpriced.

For more information, call or email Diane Adler.