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.

March 2017 Sizzling spring market

 

Durham Region Realtors(R) reported 1,349 sales during March 2017. This was 15.7% higher than March of last year. For the broader Greater Toronto Area, REALTORS® reported 12,077 residential sales through the Toronto Real Estate Board MLS® System in March 2017 - an increase of 17.7% compared to March 2016.
 
In the Durham Region, the number of new listings coming on the real estate market in March 2017 rose by 22.1% from last March, and outpaced the increase in sales. For the GTA, new listings increased 15.2% on a year-over-year basis, with the strongest growth in the detached market segment.

"It has been encouraging to see that policymakers have not implemented any knee-jerk policies regarding the GTA housing market,” said TREB President Larry Cerqua. “Different levels of government are holding consultations with market stakeholders and TREB has participated and will continue to participate in these discussions. Policy makers must remember that it is the interplay between the demand for and supply of listings that influences price growth.”

The average home sale price in the Durham Region for March was $697,896. This was 42.5% higher than the average price in March 2016. Strong competition between buyers continued to cause high levels of price growth in all major market segments. The MLS® Home Price Index (HPI) Composite Benchmark Price was up by 28.6% year-over-year for the TREB market area as a whole.

Do you have questions about the real estate market? We'd love to help! Give us a call at 905-448-2921.


40 KING AVENUE EAST
NEWCASTLE, ON   L1B 1H6

Office: 905-448-2921

Trademarks owned or controlled by The Canadian Real Estate Association. Used under license.

The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale or lease of real estate and may not be used for any commercial purpose or any other purpose.

Information is deemed reliable but is not guaranteed accurate by TREB.

Toronto Real Estate Board - IDX Last Updated: 10/23/2017 6:39:42 AM