Elizabeth Janak Real Estate

The market stats for May are out! In May, the housing market in the Greater Toronto Area (GTA) continued its upward trajectory, displaying an impressive rally in home prices. The average price surged by $42,832, marking the second consecutive month of substantial gains exceeding $40,000. This surge is particularly noteworthy when compared to the market bottom observed in January, where properties were selling at an average of $1,038,668. Since then, home values have experienced a commendable recovery, reclaiming $157,433 of the previously incurred losses. The resilience of the GTA housing market is undeniably apparent, with an extraordinary rebound that has recouped 53% of the losses incurred during an 11-month period marked by eight consecutive interest rate increases. Remarkably, this substantial recovery has materialized in just four months, reflecting the market's exceptional resilience and adaptability.

Full report here:

May 2023 Market Update | J&D

The market stats for March are out! Springtime has arrived for the housing market in the Greater Toronto Area (GTA), where sales prices are trending upward once again. The aggregate average sales price for March settled at $1,108,606, with detached homes increasing to $1,468,651 or a 9.6% rise compared to January. Similarly, townhouses rose to $1,036,571, an increase of 6%. The interest rate environment has stabilized, and previously sidelined buyers have released their pent-up demand on the market, creating a shortage of inventory.

Full report here: https://ebook.royallepagecorporate.ca/view/493680562/

Elizabeth Janak Real Estate Elizabeth Janak has over 20 years of sales experience working in the real estate industry in Central Toronto.

www.elizabethjanak.com

The market stats for December are out! While the housing market in the Greater Toronto Area (GTA) experienced a shift in 2022, it also showed its resiliency in the face of rising interest rates. The average selling price last year in the GTA was $1,189,850, representing an 8.6% increase over the 2021 average of $1,095,333. The increase in average price growth is attributed to the strong start we saw in 2022.

Go here to read the full report: https://ebook.royallepagecorporate.ca/link/121733/

The market stats for July are out! In July, sales activity in the GTA continued to slow as compared to 2021. Prices also continued to moderate following the peak seen earlier this year, however, average home prices are still higher than they were in July 2021 and benchmark home prices remain 12.9% higher than they were a year ago.

Go here to view the full report: https://ebook.royallepagecorporate.ca/link/868220/