The Durham Region Association of REALTORS® (DRAR) President Tina Sorichetti reported a significant increase of residential transactions year-over-year. Home sales in Durham Region reached 1,075 in April 2019 representing a 16 per cent increase compared to 930 in April 2018. On a month-over-month basis residential transactions were up 28 per cent. Durham Region’s average sale price reached $612,195 in April 2019. This was slightly higher than the $609,815 for April of 2018. According to the index and benchmark price in April 2019, Durham has the most affordable single-family detached homes compared to neighbouring markets. The average days on market in ...
Real Estate Market Update for April 2019
May 14, 2019
Real Estate Market Update for March 2019
April 8, 2019
Durham Region Association of REALTORS reported 839 residential transactions in March 2019, a 43 per cent increase from the previous month but very similar to 846 homes sold in March of 2018. The average selling price in Durham reached $604,796 last month. In comparison, the average selling price was $580,743 in February 2019 and slightly higher than $598,412 of March 2018. The recent Federal Budget addressed housing affordability and providing support for first-time home buyers. The budget included the launch of The First-Time Home Buyer’s incentive program, increase to the Home Buyer’s Plan (HBP) withdrawal limit from $25,000 to $35,000, as ...
Real Estate Market Update for February 2019
March 8, 2019
Durham Region Association of REALTORS® (DRAR) reported 585 residential transactions in February 2019. This represents a 15.16 per cent increase on a month-over-month basis and a decreased from the same time last year by 3.15 per cent. The average selling price in Durham for the month of February was $580,743. This is a moderate increase from January 2019. The average selling price for all home types decreased by 1.8 percent on a year-over-year basis. The number of new listings reached 1,140 in February, a 5.16 percent decrease from February 2018. The number of new listings decreased by 3.47 percent from ...
Real Estate Market Update for January 2019
February 12, 2019
Durham Region Association of REALTORS® (DRAR) reported 508 residential transactions in January 2019, compared to 470 in January of 2018. An increased 8.09 per cent year over year. In 2018 we saw the introduction of “Stress test” as well as a number of rate increases by The Bank of Canada. These factors caused a lot of turbulence and uncertainty in the housing market. So far this year there are no indications of any major changes that can influence the housing market. It is predicted that 2019 is a year of stability and moderate growth in the housing market.
Real Estate Market Update for December 2018
January 11, 2019
When all is said and done in Durham region a total of 8,941 homes were sold in 2018. This represents a 19.7 per cent decline compared to the 11,136 residential sales reported in 2017. The market is returning to Normal after the peak that we experienced in early 2017. The number of new listings in December 2018 were 543, a 23.6 percent decrease from the same time last year Durham Region saw the average sale price increase to $587,200 in December 2018 for all home types. The average sale price for 2017 was $575,064. This price increase trend started ...
Real Estate Market Update for November 2018
December 18, 2018
Durham REALTORS® reported 730 residential transactions in November 2018. The number of residential sales was down 16.9 percent compared to November 2017 and down 8.5 per cent from the same time last month. Toronto Real Estate Board and Durham Region Association of REALTORS® (DRAR) announced the continuation of moderate price growth in November 2018 compared to November 2017. The average selling price of homes in Durham was up 2.7 per cent year-over-year to $590,403. “The number of new listings is down on a year-over-year basis this November. It was predicated we may see a tightened market and this indicates that ...
Real Estate Market Update for October 2018
November 12, 2018
Durham Region Association of REALTORS® reported 798 residential transactions in October 2018, a 3.2 per cent increase from the previous month, and a 5.6 per cent decrease from the same time last year. The average sale price in Durham Region for the month of October was $588,968 up slightly from September at $587,009. This is also a 2.3 per cent increase from October 2017. (DRAR) President Dennis Roberts reported “Monthly sales growth has been positive in Durham Region since the Spring. We anticipated it would take time to adjust to the mortgage changes and higher borrowing costs. The Durham market ...
Real Estate Market Update for September 2018
October 5, 2018
Durham Region Association of REALTORS® reported 773 residential transactions for the month of September, a decrease from August 2018 which saw 843 transactions. September 2018 saw 1,823 new listings compared to 1,466 new listings in August 2018. This is a 24% increase over August 2018. The average selling price in Durham reached $587,009 for September, a slight decrease from $590,706 in August 2018. However, this average sale price is up this September over the $578,666 from the same time period last year. “We are still experiencing a very healthy market in Durham Region and continue to be an affordable option ...
Real Estate Market Update for August 2018
September 11, 2018
Durham Region Association of REALTORS® (DRAR) President Dennis Roberts reported an increase in residential transactions on a month-over month basis in August. DRAR REALTORS® reported 843 residential transactions, a 6 per cent increase compared to July 2018 with an average 28 days on the market. “It is encouraging to see an increase in transactions as we enter the fall market. It was anticipated that we would see a hike in activity in the fall, and an increase in sales as well as the average selling price for the month of August is a very positive sign,” said Roberts. The average ...
Real Estate Market Update for July 2018
August 8, 2018
Durham Region Association of REALTORS® (DRAR) President Dennis Roberts reported 794 residential transactions in July 2018, a 6 per cent increase on a year-over-year basis from 749 in July 2017, and a 13.5 per cent decrease from June 2018. “As we edge closer to the end of the summer, we may experience a return to a traditionally quieter summer market,” said Roberts. July saw the number of new listings in Durham decrease on a month-over-month basis to 1,675 down from 1,895 new listings in June. The average selling price in Durham reached $584,131 last month, a 4.35 per cent decrease ...