Toronto Real Estate Board reported 981 homes sold in Durham Region in March compared to the record 1,110 homes sold in March 2010. The average price of homes in Durham Region for the same period was down by 1.46% compared to a year ago. The overall Greater Toronto home sales followed a similar pattern. In the GTA 9,262 transactions were reported through the TorontoMLS(R) system in March 2011. This result was 11 per cent lower than the record sales reported in February 2010.
Number of Homes Sold in Durham Region
The average selling price for March 2011 sales in Durham was $301,668, representing a slight drop of 1.46% compared to the average of $306,140 reported in March 2010.
The average prices for the first quarter, however, have gone up by 2.8%.
Average Home Sale Price in Durham Region
"The strong home sales reported in March and throughout the first quarter of 2011 have been based on a solid affordability picture and improving economic conditions in the GTA and country-wide," said Toronto Real Estate Board (TREB) President Bill Johnston.