Elizabeth Janak Real Estate

02/25/2024

Thats my girlie

06/14/2023

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:

04/20/2023

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

www.elizabethjanak.com

03/07/2023

The market stats for February are out! During the month of February, the housing market in the Greater Toronto Area (GTA) experienced a noticeable revival, characterized by a surge in property values across all asset classes. Notably, the average sales price for all property types increased by 5.4% when juxtaposed with January's data, culminating in a February average sales price of $1,095,617. The gains in property values were observed across all asset classes, with the detached market realizing an impressive uptick of 7.2%, resulting in an average sales price of $1,439,735, the largest increase since January 2022. Similarly, the condominium market increased month-over-month with an appreciation of 2.5%, translating into a final average sales price of $705,472 for the month of February. Pressure on inventory led to a substantial drop in average days on market which now sits at 22 days, the lowest since August 2022.

Click here for the full report: https://ebook.royallepagecorporate.ca/view/925093592/

02/07/2023

The market stats for January are out! The average selling price in the GTA for January 2023 at $1,038,668, slightly lower than December 2022 averages, while benchmark prices remain steady month-over-month, a trend which has continued in the GTA since late summer. The GTA saw 3,100 sales in January, slightly below December 2022 volumes, and down 44.6% from the blistering pace of sales we saw last January. The sales total represents the second lowest instance of sales since 2009. The only other time sales dipped to these levels was April 2020, which of course turned out to be an anomalistic low created by Covid uncertainty. The 2020 uncertainty for the real estate market was short-lived and sales rapidly increased all the way to 15,652 by March of 2021, an all-time high. It is noteworthy that those purchasers willing to come off the sidelines and enter the market were able to realize substantial equity gains since April 2020.

Click here for the full report: https://ebook.royallepagecorporate.ca/link/382420/

01/17/2023

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/

11/29/2022

The market stats for October are out! October marks the third straight month prices have held steady in the GTA, after values retreated following interest rate increases in the spring and early summer. The average price of a home in the GTA is just under $1.1 million, up 1% since August of this year. One of the drivers behind this resiliency is persistent low inventory. Current sales activity is similar to what we saw in the GTA in October 2008, however, available inventory is around half of what was for sale at that same time. New listings in October were down by 11.6% year-over-year and reached a level not seen since 2010.

Go here to read the full report: https://ebook.royallepagecorporate.ca/link/1024048/

09/14/2022

The market stats for August are out! In August, sales activity volume remained below average. 5,627 homes were sold in the GTA in August, which is a 20-year sales volume low and 34.2% lower than last August, but represented 15% more sales than we saw in July, a jump which is atypical for this time of year and may signal an early start to the fall market.

Go here to read the full report: https://ebook.royallepagecorporate.ca/link/627619/

08/10/2022

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/

07/12/2022

The market stats for June are out! In June, the GTA real estate market changed pace from the torrid year-over-year price increases seen earlier in 2022. However, average home prices are still 5.3% higher than they were in June 2021, and benchmark home prices are a significant 17.9% higher than they were only one year ago. In addition, the pipeline of potential buyers remains strong, with younger millennials, poised to become homeowners in the near and medium term, comprising a significant portion of the population in our largest cities

06/16/2022

Just Listed - 88 Broadway Avenue #1502
For sale for $838,000

Elegant, stylish, and chic. This bright two bedroom, two bathroom unit is conveniently located at Yonge and Eglinton. This split floor plan offers a stunning kitchen renovation which was just completed, with KitchenAid appliances, a breakfast bar with quartz countertops and backsplash, and lots of cupboard space. Bright and airy with lots of windows displaying north and east city views off a high floor, as well as an open balcony. Featuring nine foot smooth ceilings, 900 square feet of living space, custom closets with built-in shelving, hardwood floors, and a contemporary aesthetic throughout. One parking plus a locker completes this offering.

24 hour concierge, gym, indoor pool, party room, and a ninth floor terrace with a barbeque, and ample visitor parking are just some of the many features this building has to offer. 88 Broadway offers quick access to the best restaurants, schools, and shops at Yonge and Eglinton. Only a short walk to TTC and the new LRT. In district for North Toronto CI. Urban living at its best!

Visit my website www.elizabethjanak.com for more information and a virtual walkthrough.

06/06/2022

The market stats for May are out! In May the GTA real estate market saw more adjustments, mainly as a reaction to rising interest rates as a measure to combat inflation. Historically speaking, the GTA real estate market has seen strong growth, especially over the past 10 years. This data shows the resilience of the GTA real estate market.