Greater Toronto REALTORS(R) reported 7,922 transactions through the TorontoMLS(R) system in July 2011, representing a 23 per cent increase over July 2010. In Durham 906 homes sold - well above the 707 homes sold during last July but short of the record high of 1,033 in July of 2009.
Total sales in Durham through the first seven months of this year are down by 1.3 per cent compared to the same period in 2010.
Number of Homes Sold in Durham Region
"Strong home sales continued in July, with a substantial rebound over last summer's slow-down brought about by higher mortgage rates, new lending guidelines and misconceptions about the HST. The greatest rebound was seen in the condominium apartment segment in the City of Toronto," said Toronto Real Estate Board President Richard Silver.
The average selling price of Durham homes in July was $329,956.00 compared to the July 2010 average of $295,505.43.
Average Home Sale Price in Durham Region
"Tight market conditions have boosted the annual rate of price growth this year. However, the listings situation is starting to improve. A better supplied market later this year and into 2012 would lead to a more sustainable rate of price growth," said Jason Mercer, TREB's Senior Manager of Market Analysis.
Sales / Active Homes in Durham Region
