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 January 2019
February 12, 2019
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 ...
Real Estate Market Update for June 2018
July 9, 2018
Greater Toronto Real estate Board reported 918 residential transactions in June 2018 for Durham Region, a 6.87 per cent increase from May 2018 and a 7.92 per cent decrease from the same time last year. June also saw the number of new listings in Durham decrease to 1,895 from 2,247 new listings in May. The average selling price went up to $610,728 in June 2018, a 2.22 per cent increase compared to May 2018. “Durham Region continues to offer the best home value in the GTA. According to the MLS® Home Index and Benchmark Price, Durham continues to offer affordable ...
Real Estate Market Update for May 2018
June 7, 2018
<iframe width="560" height="315" src="https://www.youtube.com/embed/MtM0bATOu4U" frameborder="0" allow="autoplay; encrypted-media" allowfullscreen></iframe> Greater Toronto Area REALTORS® reported 859 residential transactions for Durham region in May 2018, down 7.6 per cent from the previous month. On a year-over-year basis, sales transactions are down 33 per cent. In Durham Region, the average selling price reached $597,485 in May 2018. In comparison, the average selling price was $609,813 the previous month. In May we entered a buyer’s market as the number of homes listed increased dramatically compared to the homes sold. There were 2,247 new listings in May 2018, compared to 1,908 in the previous month, buyers ...
Real Estate Market Update for April 2018
June 1, 2018
President Dennis Roberts reported 930 residential transactions in April 2018, a 10 per cent increase from the same time in the previous month. On a year-over-year basis, sales were down by 32 per cent and the average selling price was down by 12 per cent. The average selling price in Durham reached $609,813 in April 2018. In comparison, the average selling price was $598,412 the previous month. “Last year at this time the average selling prices were reaching a record peak.” Stated Roberts. “Market conditions should support moderate increases in home prices, which continues to be demonstrated by Durham’s ...