The Vatandoust Sirrs Team with Keller Williams Energy Real Estate

The Vatandoust Sirrs Team Blog

Read what's happening in the local real estate market, get tips for home owners,  buyers, and sellers, find out community news, and more.

Durham Region Housing Market in February 2017

Durham Region Realtors(R) reported 833 sales during February 2017. This was 1.4% lower than February 2016, though since 2016 was a leap year the number of sales per day was still up this year compared to last. For the broader Greater Toronto Area, REALTORS® reported 8,014 residential sales through Toronto Real Estate Board MLS® System in February 2017. This result was up on a year-over-year basis by 5.7 per cent compared to 7,583 sales reported last year.
 

GRAPH - homes sold in Durham Region


 
While the demand for homeownership  grew over the past year, new listings entered into TREB's MLS® System in February were down on a year-over-year basis by 12.5 per cent to 9,834. In Durham Region, new listings declined year-over-year by 7.3% from February 2016.
 
The average sale price for homes in the Durham Region for February 2017 was $665,005, showing a 35.7% jump from last year February!  For the GTA, the average selling price was up by 27.7 per cent year-over-year to $875,983.
 

GRAPH - average sold price in Durham Region


 
The shortage of listing supply we are seeing in the GTA has undoubtedly led to the double digit home price increases we are now experiencing. Until we see a marked increase in the number of homes available for sale, expect this strong price growth to continue.
 
Do you have questions about the real estate market? We'd love to help! Give us a call at 905-448-2921 or reply back to this email.
 
 

GRAPH - sold versus available homes in Durham Region

 


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Toronto Real Estate Board - IDX Last Updated: 8/22/2017 6:44:07 AM