Elizabeth Janak Real Estate

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/

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