December - Mississauga Market Report

04 January 2021
Larose Team

A Message from Kevin 

First and foremost, knowing that COVID has affected families in so many different ways, our thoughts are with you and your love ones. Wishing you best health and happiness through this very different holiday season.

Looking back, it was late February I had my regular Friday poker night with the same friends for the past 10 plus years... talking about our families, politics, our businesses (all 7 poker players are in the real estate business) and of course this virus that was in the news. That Friday in February was my last poker night with some of my dear friends... we never thought for a second that we would be where we are today. Life as I knew it was turned upside down for my family as well as my business family.... I remember thinking how fortunate my family is - all healthy and together facing these unforeseen challenges with the mindset that “ we will get through this and how can we make a difference“. Fear is a funny thing? It can stop you, or challenge you to provide the courage you need to move forward. I was a told many years ago that when one is stressed with anxiety, focus on doing the work you are passionate about and make a difference in the lives that surround you.

It was the end of March and all our staff were now working from their homes. We put a plan in place that focused on the safety of our team and the families that we had the honour to help. Our one goal was to ensure proper protocols and strategies were in place that would remove the risks and at the same time guarantee a successful outcome for our clients. We as professional Realtors have the responsibility to understand the real estate market, what are the risks involved and opportunities that an individual or family that are buying or selling can expect? Here is where the rubber meets the road. I am proud of the people that make up the Larose Team. Our culture is one of caring, working together and supporting one another, with a high level of service as our clients are our number one priority .... clients first always.

With interest rates at an all time low and families talking about the future, real estate has become a priority for many families. Baby boomers downsizing earlier than planned - families planning to purchase a larger home that allows for in home office space - more green space is a requirement. Early April we started to see a real push for detached homes - really every sector other than condos started to see higher than previous years stats. Recreational properties were in high demand. People were excited about change and took on the challenge of making the move.

This pandemic has allowed us to re-evaluate the systems and tools and to ensure that all areas in our business are sealed tight and working at the level needed to create a safe environment for staff, team members and the clients we serve.

2020 has been the Larose Team's most successful year in the 21 years in business serving over 150 families with many great stories of kindness and appreciation.... I am thankful to my team and honoured to have the opportunity to make a difference in our clients lives.

It has always been our teams commitment to give where we live and this year more than others, giving back is so important . Our local food bank supporting the homeless is a cause that we support - our local Port Credit businesses need our community support more than ever. When thinking of giving, please consider your local food bank and shop in your local communities and help our local retailers and businesses.

2021 will be a different year yet again, and I am optimistic that a new better norm will have us gather with friends and family very soon.

Wishing you all the very best and have a safe holiday season.




November - Mississauga Market Report

07 December 2020
Larose Team

Housing Markets 'Resiliency' Continues During the Pandemic

Mississauga November 2020 -  Real estate typically slows at this time of year but October 2020 home prices had the strongest gain for an October in 22 years. Robust sales have been record setting in Toronto with a 25.1 percent increase in unit sales over 2019 and a 15% increase in average price. Sales of detached houses increased 33.9 percent while active listings dropped 30 percent. Low inventory is driving multiple bidding on good properties. Mississauga experienced similar results.

The Toronto condo market is still struggling as October sales and prices fell 9 percent in the 416 area. In Mississauga, condo sales fared a little better and were flat to last year. For buyers who intend to live in a condo unit or investors who are in it for the long term, this could prove to be an excellent time to purchase. Pre-construction condos sold out at a record pace at both the Westport and Brightwater developments here along the Lakeshore corridor. The largest inventory gains are showing up in the condo segment as new projects come to market.

In the prime areas of South Mississauga, we are experiencing buyers willing to compete for luxury properties. Inventory is tight and the best properties are selling in multiple offers. People want more space for their families and those who live in the city are finding out about Mineola and why this is such a great neighbourhood to live in. If you own a luxury home here in Mineola and are thinking about downsizing, it's a great time to consider a move. At the very least, it's an excellent time to take some of the built equity in your home and purchase an investment property. Interest rates are at an all-time low and new pre-construction projects will be coming to market in early 2021.

Contact us for a professional, confidential home evaluation and see how you could use your current property to help you build wealth. Call 905-278-7355 or email us at



October - Mississauga Market Report

02 November 2020
Larose Team

Sales Activity And Prices Set New Records In The GTA

Mississauga September 2020- Last month we reported record sales numbers for August 2020 in the GTA as well as Mississauga. September has broken some new records with a 42% increase in unit sales over September 2019 and a 14% increase in average price. Of note, there was a surge of activity in the suburbs and regions surrounding the GTA and the 3rd straight month of record sales.

There has been a trend with buyers moving outside the downtown core- we are seeing them snap up detached and semi-detached properties here in South Mississauga because of value and more space for family living. Its a short commute to downtown along the Lakeshore Go train line which makes our neighbourhoods very desirable.

Our Local Market Insights:

  • Unit sales for all property types in September were up 37 percent in Mississauga
  • Detached and semi detached homes were in huge demand as competition for these properties helped increase the average price 15% year over year. A record number of detached homes sold resulting in a 59% increase in unit sales
  • Mortgage rates are now at historical lows as money continues to be cheaper and cheaper which is driving demand for bigger properties. The 5 year fixed mortgage rate can be had at below 2 percent right now
  • Our inventory numbers in Mississauga are still favouring a Sellers market with only 1.5 months of supply at the end of September
  • The average sales to list price in September was 100% which indicates many properties are selling in multiple offers


The 'Back Door' Sale

Another noteworthy trend is the rise of the ‘back door sale’ otherwise known as the ‘pocket listing’. Its difficult to quantify at this moment- but as local agents, we are seeing an increase in the number of our new listings which are never getting to MLS. 

We are finding homes for our Buyer clients through our extensive local database as well as by keeping in touch with other local agents through our exclusive Agent Broker portal. Agents usually list a property exclusively on this portal as a home is being prepared and staged. If this continues, many of the best properties will never see MLS.

If you are  looking for a special home in this area- contact us and we will sign you up to receive pocket listings that fit your criteria.


Pricing Properties In This Market

One of the first questions we get asked when meeting with a prospective Seller is what is my home worth?

‘Pricing a home is all about strategy and there are several factors to consider when choosing the right one for your home’ says Kevin Larose of The Larose Team.’ We look at setting the asking price right when the property is ready to show- and not before. Market conditions can change from week to week and you have one chance to get it right’ he says.

If you are considering selling, ‘contact Kevin’ for a pricing strategy conversation to see how you can achieve the most money out of the current market.

September - Mississauga Market Report

01 October 2020
Larose Team

Real Estate Market Continues To Defy The Odds

Mississauga September 2020- The local real estate market continues to defy the odds and there are good reasons for it. Unit sales are up 22%, average price is up 27% and you can get a 5 year closed mortgage for less than 1.99%.The detached market has been exceptionally strong with the biggest price gains.

We live in a very desirable area in the GTA close to the lake and fabulous parks. It is easy to get into the city with GO transit and our schools and amenities offered here in south Mississauga are excellent. Covid-19 is affecting the way people want to live their lives now and here is what we are seeing:

  • working at home is fuelling the trend towards detached homes with home offices, more sqft and larger yards
  • young people locked out of the job market are moving back home which is creating a need for more space for some families
  • family communal living- this trend continues again with the need for larger homes and more  space for extended families to live together
  • some who have lost their jobs will need to sell and rent- or move outside the GTA
  • leisure homes are on the radar for many who are choosing to downsize to a condo and buy their cottage property

We need more inventory of detached properties as we move into the fall market as this segment is hot. If you are considering selling your home, contact us for a confidential evaluation of your
property. It will be worth more now than
you think.

Tax On Principle Residences In Canada

As we see it, the support provided by the government during Covid-19 will most definitely result in future tax increases. We are hearing that taxing principle residences will be strongly considered especially due to the hot real estate market and continuing price gains.

What could this look like? Consider the principal residence exemption has been abused by some and this will most likely get tightened up. In Canada, anyone including a builder- can purchase a property, designate it as a primary residence and sell it within 6 months. In the USA, to qualify for the exemption, you have to have lived in the home for 2 years out of the last 5 years leading up to the sale.

This change alone would put a stop to those looking for a fast reno/flip. Also in the USA, you can only designate one property as a principal residence and it can’t be the family cottage.

Whatever changes they make, for many Canadians their homes represent their largest asset and this will have an impact on property values. Stay tuned...


What Is A Pre-Emptive Offer?

Also known as a ‘bully’ offer, a pre-emptive offer is an offer registered on a property by a purchaser prior to the scheduled date and time the agent has placed on the listing. Pre- emptive offers typically tend to be well above the asking price on the listing and can include a hefty deposit and few or no conditions.

There are various reasons why buyers would want to ‘bully’ an offer on a property. Usually it is to get ahead of the competition by trying to get the seller to accept their offer before many others have a chance to bid.

Not all sellers will allow a bully offer as they believe they will get a better price and terms if they wait until the offer date.

If the listing does allow pre- emptive offers, all parties who have seen the property will be notified and have a chance to enter their best bid. If a pre-emptive offer is accepted, the scheduled offer date and time will be cancelled.

Sellers who do accept a preemptive offer will do so as they believe the price and terms are better than they will get by waiting.

Hot Summer Housing Market Fuels Price Increase

01 September 2020
Larose Team

Mississauga July 2020-  The strength of the housing market recovery in the GTA has been surprising to say the least. July saw one of the largest gains on the Toronto Real Estate Board in years as the average price of a home topped the record breaking prices set in April 2017.  Covid-19 hasn’t dimmed expectations for Canadians looking to own their own home.

Detached homes led the way with a 14 percent increase in the 905 areas of the GTA in July with an average sale price of 1.06 million. Condo prices rose 10 percent in the same areas.

Mississauga reported strong results in July with unit sales up 17% and an increase in average price of of 18%. Total new listings were up significantly on a year-over-year basis by 27% percent although the number of active listings at the end of July were down by 7.0 percent.

Historically sales dip in July however, with pent-up demand from COVID-19 related closures, July saw strong gains that made up from the lack of activity in the spring season.

Our Insights as to why prices are increasing:

• Competition between buyers is accelerating which is resulting in multiple offers and is fuelling price increases. Listing agents continue to set offer dates for properties as a strategy to drive up the price

• New property listings are not keeping pace with the sales which is also putting upward pressure on prices

• With the popular five year fixed mortgage currently less than 2 percent, there is more demand today than pre Covid- 19. With rates this low, it costs less to carry the mortgage which has an effect on affordability

• Investors are taking advantage of the low rates as they compete for properties and add to the buyer pool

• We are seeing a spike in demand for larger properties with more space as more people have decided to continue working from home

• Buyers are looking outside of the downtown core and the areas of south Mississauga are more affordable. With larger lots, great schools and the advantage of only one land transfer tax (which saves $$), our area has become a hot spot

• The strong recovery in residential real estate has given confidence to developers to launch new projects- especially condo projects here in Port Credit

Bottom line is, it’s really hard to lose money in Toronto real estate and we don’t see things changing much as we move into fall. If you are considering selling over the next 6 months, now would be a great time to talk with us to get a current market evaluation of your property. It’s probably gone up in value and worth more than you think.

Support the Port- Port Credit’s Gift Card Initiative

22 July 2020
Larose Team

The Port Credit BIA has put together a great initiative to help support our local Port Credit businesses. A homegrown initiative, launched bythe Port Credit BIA in partnershipwith Brightwater, Edenshaw and thePort Credit Community Foundation,asks people to purchase a gift cardfor use at a participating business.For every purchase made, amatching donation will be madeto The Compass Food Bank.

With a goal of $20,000, the initiative has reached a milestone of just over $15,000! If you haven't yet contributed to the cause, visit:

Property Values Remain Unchanged Despite Drop in Sales

24 June 2020
Larose Team

Its very challenging to predict whats ahead for the housing market. What we do know is the market is rebounding with strong pent up demand as we move into summer. Some of the larger percentage gains were due to the declines in March and April- but we are encouraged by the inquiries and the amount of buyers out there looking to purchase. As many buyers return to the market, they are finding a drastic reduction in the number of listings.

Our Mississauga Market Insights:

  • Unit sales in Mississauga were down 55% over May 2019 with the number of new listings down 54% year over year

  • The average sales price was $767,500 up from $756,400 last year

  • There will be areas in the City that will rebound stronger and quicker especially in the prime areas of South Mississauga

  • This is historically the peak time in the residential real estate market

  • From our experience, we don’t expect to see significant price changes this year as inventory levels remain tight

Mortgage Update– The Bottom Line

Three months into the Canadian response to COVID-19 and the impact of social distancing, work-from-home, job loss and major economic impact has been felt across the board. 

The effects to the real estate and lending markets has been significant. Most recently, on Thursday, June 4th, CMHC announced the following changes apply to new applications for homeowner transactional and portfolio mortgage insurance, effective July 1, 2020:

  • The GDS/TDS ratios will now be limited to CMHC’s standard requirements of 35/42 from 39/44
  • The minimum credit score required for at least one borrower will increase from 600 to 680
  • Borrowers are now required pay the down payment from their own resources rather than non-traditional sources like a line of credit for example.

Although these changes could impact purchasing power by 10% it is not widespread, and there are options and solutions to service home buyers through Genworth and Canada Guaranty. If you are looking to lending options, these new changes are not applicable to clients looking to put 20% or more down.  For clients looking to buy with less than 20% down, even after July 1, 2020 (when the new rules are in place) we still have options available to us where your buying power has not been impacted.

From an interest rate perspective, the five year 2.29 percent mortgage has arrived. At the very least, this new rate will entrench the 5 year fixed as Canada’s most popular term.

My advice to anyone looking to become a homeowner and into the market is to engage a mortgage professional and realtor early in the process. Complete a full pre-approval and ensure your credit and savings are in place.

For more information on mortgage financing, contact:
Emily Miszk- The Mortgage Coach  /  416-669-6322

Business– not as usual

18 March 2020
Larose Team

First and foremost, we at the Larose Real Estate Team would like to extend our best wishes for health and safety to you and your families in these uncertain and challenging times.

The rapidly evolving coronavirus ( COVID-19) situation is changing daily life as we know it for everyone. At the Larose Team, we recognize we are all in this together. We are working diligently to balance the health, safety, and unique circumstances of our valued clients with those of our team members and partners.

Our team continues to receive showing requests, offers on properties and appointment consultations and as a result, we have implemented strict guidelines and put protocols in place to prevent the potential spread of the virus.

Throughout this crisis, there are people who still need to buy and sell real estate . That being said, we remain active and available to serve our current clients and take care of any future business.

Our business has been built on a platform of dependability, high service standards and the confidence that we can take care of our clients, no matter the market or situation.

Thank you for your trust and stay healthy everyone.

February 2020 Market Report

26 February 2020
Larose Team


MISSISSAUGA, February 2020- Its official. “Its a Sellers market and buyers will have to get used to it’ says Kevin Larose from the Larose Team.

2020 has started where 2019 left off with strong sales growth against a continued decline in the number of new listings. This has resulted in a 12
percent year-over-year average selling price increase in January in the GTA. Low borrowing costs and low unemployment continue to fuel the housing market and combined with new changes to the stress test rules, we don’t expect things to change.

New stress test rules: Starting on April 6th, a new and improved benchmark rate will be used to
calculate the stress test affordability. It will be based on the country’s median five-year fixed insured-mortgage rate, plus two percentage points. If that rate were in existence today, it would be about 4.89 per cent, says the Department of Finance. That’s 30 basis points less than the current (minimum) stress-test rate of 5.19%. This new benchmark rate will offer more flexibility- as economic prospects dim and rates decline, more people will qualify for a mortgage. That gives our housing-dependent economy a boost when it needs it most and slows economic growth when it gets too hot. Makes sense.

Assuming rates stay the same by April, calculations on a 30 basis point reduction in the stress test would give most borrowers upward of 3 per cent more buying power. This should help buyers trying to qualify for just a bit more than they would have, particularly heading into the high season for home buying.

Here in Mississauga, sales results are similar. January saw a 13.7% increase in unit sales with an 11% jump in average price. The average price of a property sold in Mississauga in January was $782,400.00. The detached market is strong with a lack of inventory driving price growth. We are seeing multiple offers again in this area as we move into spring. “We can’t get new properties listed quickly enough and have an extensive list of buyers looking to buy in these areas” says Kevin. Many properties are selling in multiple offers right now and the ‘fear of missing out’ which fuelled the market in the spring of 2017 seems to be the cause. ‘It feels like 2017 right now’ says Kevin.

If you are looking to move this season, contact us and we will provide a professional, confidential market evaluation and help prepare the property so you get top dollar. Contact us at 905 278-7355 or email

January 2020 Market Report

30 January 2020
Larose Team

TORONTO, January 2020 - The Toronto Real Estate Board reported total sales for calendar year 2019 were 87,825 units – up 12.6 per cent compared to the decade low 78,015 sales reported in 2018. On an annual basis, 2019 sales were in line with the median annual result for the past decade.

Sales were particularly strong in the second half of the year as many home buyers who were initially on the sidelines moved back into the market. Buyer confidence was buoyed by a strong economy and declining mortgage rates in the 2nd half of the year.

While sales were up in 2019, the number of new listings entered into TREB’s MLS® System was down by 2.4 per cent year-over-year. For the past decade, annual new listings have been between 150,000 and 160,000 units, despite the upward trend in home prices over the same period.

Sales in Mississauga were up 12% with 8,765 units sold in 2019. Average price was up 8% which indicates the mix of properties sold has shifted. See year end results in the chart.

Further analysis indicates:

> The average price of single detached and semi detached homes sold in Mississauga in 2019 was up 6.5% - while condo apartments showed an increase of 15%.

> We had a strong fall market with the largest gains in the number of units sold in the 3rd quarter.

> There were record condo sales in 905 as GTA prices reach $1,000.00 per sq ft. With the Toronto areas population increasing, the influx of new residents has fuelled the housing shortage and triggered a building boom of condos.  South Mississauga has been slow to get condo developments  to market and now that prime waterfront land has been remediated and slated for development, several exciting new projects including Edenshaw’s new Ann Street and Brightwater will be coming available in the next 2-3 months.

> Mortgage rates are low and lenders are finding ways to finance properties keeping within the stress test rules.

> As we continue to experience a strong sales increase up against a decline in supply, we can expect further price increases in 2020. Sales were unusually strong in November and December and what we don’t have moving into January this year is carry over supply.

This will result in higher prices in the first few months with some levelling off as new properties come to market. Buyers are out there and they looking for good properties in prime areas.

We predict a strong sellers market this year- so if you are thinking of selling contact us at 905 278-7355 or We will provide you with a confidential market analysis and a solid plan to get your home sold for top dollar on your terms.

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