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Durham Region reports an increase in transactions

Monday, March 12, 2018   /   by Geoff Appleton

Durham Region reports an increase in transactions



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 and summer months, growth in sales and selling prices is expected to pick up relative to last year. Expect stronger price growth to continue in the comparatively more affordable townhouse and condominium apartment segments. This being said, listings supply will likely remain below average in many neighbourhoods in the GTA, which, over the long-term, could further hamper affordability.

Feb Average Selling Price.JPG


Royal LePage Frank Real Estate
Geoff Appleton Sales Representative
80 Athol St E, Oshawa
Oshawa, ON L1H 8B7
905-576-4111
905-925-8494

Information is provided exclusively for consumers’ personal use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS®.
Information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS®. Copyright 2020 Last Updated October 28, 2020
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