Average House Prices On The Rise In Durham Region

DURHAM REGION, May 3, 2013

The Durham Region Association of Realtors or (DRAR) has reported a 27% increase in sales for April with 1,204 homes sold compared to 948 in March. “This figure still represents a 10% decrease from this time last year.

Market inventory shot up by 19% in April with 1,793 new listings during the month.
The end of month inventory was also up by 9% compared to March with 1,694 active listings.
The average selling price in Durham climbed to $357,638, an increase of 3% since March and 6% over this time last year.

These increases are modest but consistent and this speaks to the stability of the Durham real estate market.

The number of listings remain down by just about 10.5% when you you compare the year to date stats for 2013 against 2012 – indicating that it is still a bit of a sellers market in Durham Region. The sellers market in my opinion has really been noticeable in Oshawa as homes are selling very quickly and sometimes at or over the asking price. Oshawa also currently stands out in the Average Selling Price category with an increase of 9.5% over last year with Uxbridge and Whitby in second and third with increases of 8.1% and 6.5%.

Here is something interesting – In 2003 the Average Selling Price in Durham Region was $218,922 and today So far in in 2013 the average selling price is $345,851 that is an increase of 36%

All statistics have been take from the Durham Region Association of Realtors – Housing Market Report for May 2013

If you would like more information on the housing market in Durham please feel free to contact me