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August 2018 Market Report
| # | Municipality | Active | Sold / Month | Sold / Year | Avg$ / Month | Med$ / Month | Avg$ / Year | Med$ / Year |
|---|---|---|---|---|---|---|---|---|
| 1 | Brampton | 1584 | 675 | 4960 | $708,989 | $670,000 | $696,187 | $660,000 |
| 2 | Caledon | 287 | 65 | 572 | $849,738 | $785,000 | $920,489 | $820,000 |
| 3 | Mississauga | 1411 | 712 | 5483 | $683,071 | $625,000 | $700,523 | $631,000 |
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First time Homebuyers will get Incentives under 2019 Budget !
For example, say you’re hoping to buy a $400,000 home with the minimum required five per cent down payment, which works out to $20,000. With the new incentive, you could receive up to $40,000 through the CMHC. Now, instead of taking out a $380,000 mortgage, you’d need to borrow only $340,000. This would lower your monthly mortgage bill from over $1,970 to less than $1,750
The incentive would be 10 per cent for buyers purchasing a newly built home and 5 per cent for existing homes. Only households with an annual income under $120,000 would be able to participate in the program.
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