Lower Sales, Higher Prices!
The resale housing market in Durham Region slowed down in April with 949 sales through the Multiple Listing Service(R), a reduction of 3.26% from March's 981 and 19.9% drop from the record high of 1,185 sales in April of 2010.
"This number is only slightly lower than the 5 year average of sales for the month of April," President of the Durham Region Association of REALTOS(R), Dierdre Mullen, commented.
Number of Homes Sold in Durham Region
Despite the lower sales the average price in April was $321,042, up 6.4% from $301,668 in March and 5.45% higher than April, 2010's $304,435.
Average Home Sale Price in Durham Region
The number of available listings on the MLS(R) system continues to rise. In April a total of 2,033 homes were available for sale, up 6.3% from 1,912 last month but down 16% from 2,426 at the same time last year.
The ratio of homes sold compared to available homes on the market dropped to 46% in April which is the indication of a more balanced market.
Average Home Sale Price in Durham Region
