What a great year 2015 turned out to be for Durham Region home sellers! Buyer's, however, struggled with low inventory as we experienced a Seller's Market.
Durham Region Association of REALTORS® (DRAR) President Sandra O’Donohue reported a record number of sales in 2015. “There were 11,848 residential transactions in 2015, 9.3 per cent higher than the number of sales in 2014”. This result includes 548 sales that took place in December 2015. “The number of new listings was only up 3 per cent in 2015 compared to 2014 as a whole”, reported O’Donohue. “The high number of sales compared to a lower number of listings created a substantial amount demand within the market”.
In addition to rising sales, Durham experienced a strong increase in price growth. “The average selling price for Durham Region in 2015 was $442,082”, reported O’Donohue. This represents a 12.9 per cent increase from $391,692 in 2014. The average selling price for the month of December 2015 was $451,671.
For more Durham Region statistics, please visit Durham Region Current Market Statistics
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