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No Shortage of Buyers in May - Durham Region Market Stats

By
Real Estate Agent with RE/MAX Jazz Inc., Brokerage

DURHAM REGION, June 6, 2016 - Durham Region Association of REALTORS® (DRAR) President Sandra O’Donohue reported 1,445 residential transactions in May 2016. This represents an increase of 8.7 per cent compared to the same period last year. “There is no shortage of Buyers in the Durham Region market today,” stated O’Donohue. In contrast, there were 1,790 new listings in May 2016 compared to 1,851 May 2015; a 3.4 per cent decrease.

“Home prices have shown strong year-over-year increases in the Durham Region,” added O’Donohue. The average selling price in Durham reached $531,051 last month. In comparison, the average selling price was $449,837 during the same period last year. “The 15.3 per cent increase demonstrates a continual upward pressure in pricing.”

Similarly to last month, the continued increase in prices has caused homes to sell faster, selling in an average of 11 days compared to 15 days last year. “This is a healthy economic indicator,” explained O’Donohue. “Durham Region has posted substantial growth in prices and sales demonstrating strong demand dynamics.”

Here's how the numbers break down...

AREA AVE. PRICE SINGLE DETACED SEMI-DETACHED

CONDO/

TOWNHOUSE

CONDO/APT LINK

ATTACHED/

ROW

Durham $531,051 $583,433 $429,077 $339,104 $284,014 $436,619 $452,680
Ajax $585,767 $661,799 $543,427 $384,262 $282,300 $524,550 $495,770
Brock $375,419 $376,635 - $354,750 - - -
Clarington $471,186 $506,415 $362,980 $435,333 $273,103 $405,106 $373,606
Oshawa $450,220 $494,946 $346,366 $259,480 $214,064 $378,400 $400,000
Pickering $583,280 $704,275 $539,957 $385,684 $297,908 $524,500 $506,225
Scugog $541,794 $553,335 $326,500 - $441,500 - -
Uxbridge $751,308 $830,805 - $379,667 $281,500 $472,500 $467,450
Whitby $603,729 $658,549 $436,125 $323,500 $322,346 $503,855 $480,966

 

 

Posted by

Dianna Mandzuk

Sales Representative

 

RE/Max Circle of Legends Award Recipient

(One of RE/Max's Highest level of Performance Achievement Awards)

Certified Luxury Home Marketing Specialist

Canadian Staging Professional

30 years serving your real estate needs!

RE/Max Jazz Inc., Brokerage

Each Office Independently Owned & Operated

Direct 905-433-2579

Office 905-728-1600

www.dmandzuk.ca

dianna@dmandzuk.ca

 

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