Durham Region Association of REALTORS® reported 604 residential transactions in February 2018, a 28.5 per cent increase over the previous month, and a 9 per cent decrease compared to February 2017. February also saw a 26 per cent increase in the number of new listings in Durham 1,202, compared to the 954 reported in January 2018.
 
The average selling price in Durham Region reached just over $591,000 in February. In January of this year average selling price was just over $578,000. This indicates that Durham Region continues to experience a strong, balanced market.
 
Durham Region leads the GTA with the most affordable townhouses according to the February 2018 MLS® Home Price Index. “Amid the new mortgage regulations that came into effect January, home buyers may be looking at different home options and definitely  Durham Region’s affordable townhomes and semi-detached homes are serving that demand.
As we move further into the spring ...

With listings up and sales down, has the ‘stress test’ affected Durham Region?




 




DURHAM REGION - February 7, 2018 - Durham Region Association of REALTORS® (DRAR) reported 470 residential transactions in January 2018, a slight decrease from December 2017. January saw an increase in listings of 954 from 711 in December. There is 30 per cent increase year-over-year from January 2017, where there were 735 listings. Amid the new mortgage ‘stress test’ rules for buyers that came into effect January 1st, there has been a drop in sales but an increase in listings.

January’s average selling price was $578,645, which is a stable increase from the previous month, and a minor decrease   over the same month in 2017 at $608,417. Homes were sold within an average of 30 days on market for January 2018, in comparison to 15 days in January 2017. However, we still have strong pricing with 98 per cent Sale Price to List Pr ...