Toronto Real Estate Board reported 688 transactions in October within Durham Region. This number finally takes the number of homes sold above the record low numbers of 2008. For the past five months the sales have been lower than the 2008 sales but it looks like we have finally turned around.
Number of Homes Sold in Durham
The average price for October transactions in the Greater Toronto Area was $443,729 - up five per cent compared to the average of $423,559 reported in October 2009. In Durham Region the prices increased by almost the same percentage. The average price of homes sold in Durham in October was $302,489 compared to last October's average price of $289,003.
"The average selling price in the GTA has continued to grow relative to 2009 because home ownership has remained affordable," said Jason Mercer, the Toronto Real Estate Board's Senior Manager of Market Analysis. "A household earning the average income in the GTA can comfortably afford the mortgage payments associated with the purchase of an average priced home."
Average Price of Homes in Durham
The ratio of homes sold compared to available homes on the market improved again in October and started heading back toward a more balanced market.
Percentage of Sales to Active Listings in Durham
