The Vatandoust Sirrs Team Blog
Read what's happening in the local real estate market, get tips for home owners, buyers, and sellers, find out community news, and more.
Real Estate Market Update for September 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 for GTA Buyers.” said Durham Region Association of REALTORS® President Dennis Roberts. “Even within Durham Region, it is important to seek the advice and services of a local REALTOR, as market conditions do vary within the region.” Clarington led the way in the region with a 6.28% increase year over year on the MLS Home Price Index composite benchmark price.
With the municipal election approaching, DRAR has been working to highlight the key housing affordability issues that the public should consider when voting. Housing affordability and mortgage regulations, such as the Mortgage Stress Test, have made entering the housing market difficult or impossible in some circumstances for new homebuyers. .