STRONG JANUARY SALES IN DURHAM REGION

Home prices in Durham Region have skyrocket over the past few months.  Limited inventory and a significant demand in Durham Region has forced prices up substantially.  There were 788 new listings in Durham Region in January 2016 compared with 884 in January 2015.

The average selling price in January 2016 was $446,117, a 9.2 per cent increase from January 2015. The decrease in the number of listings entering the market has created upwards pressure on sale prices across the Region.  Many listings are selling well above the asking price.  

There is a very strong demand for real estate ownership in the Durham Region which is demonstrated by the higher number of sales and the climbing sale prices.  Even with the robust price growth, we can see that buyers continue to view home ownership within the Durham Region as a great long-term investment.

With the prices rising at the beginning of the year, this is setting up the prices for future sales.  Home seller’s will be using these new increased prices as comparables to value their homes.  

If you are looking to buy or sell real estate in Durham Region (Whitby, Oshawa, Uxbridge, Courtice, Brooklin, Port Perry, Bowmanville, Ajax) contact James or Patrick Bryant today!