Healthy Durham Fall Market Continues in November
Greater Toronto REALTORS(R) reported 7,092 residential transactions through the TorontoMLS(R) system in November - up 11 per cent in comparison to November 2010. At the same time, the number of new listings was up by 14 per cent in comparison to last year.
A similar picture emerged in Durham region. In November 771 homes sold in Durham compared to 661 during November of 2010. this number was down from October when 800 homes sold. This is typical as we approach the Christmas season.
Number of Homes Sold in Durham Region
The average price for November transactions in Durham region was $317,106, slightly lower than October but higher than November of 2010 when the average price was $295,697.
Average Home Sale Price in Durham Region
"Despite strong price growth this year, the housing market remains affordable in the GTA," said Jason Mercer, TREB's Senior Manager of Market Analysis. "The correct method of assessing affordability is to consider the share of the average household's income that is dedicated to mortgage principal and interest, property taxes and utilities. Currently, this share remains in line with generally accepted lending guidelines. Given this positive affordability picture, average price growth is forecast to continue in 2012, albeit at a more moderate pace."
Sales / Active Homes in Durham Region
