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Durham Region Association of REALTORS

By
Real Estate Agent with Remax Jazz Inc.
NOVEMBER SALES CONTINUE TO SLOW

DURHAM REGION - Members of the Durham Region Association of REALTORS® (DRAR) recorded 409 sales of single family homes in November, from 576 sold in October.  November's year-to-date sales of 8309 are 13.2% lower than the 9570 recorded in November 07.

Debra Khoury, President of the Durham Region Association of REALTORS® commented that, "This time of year home sales tend to be slower, coupled with the current economic conditions, buyers are exhibiting more caution in purchasing." 

When comparing November's average selling price of $268,902 to October's $264,988, it reflects a slight increase of 1.4 % and a 1.2% drop from $272,273 last November.  The Jan-Nov (year-to-date) cumulative average is still showing a 1.5% increase from $269,516 to $273,654. 

We're in what is referred to as a balanced market with 2838 listings on the Multiple Listing Service® (MLS®) down 3% from 2939 homes on the market last month but still reflecting a 25% increase over 2125 listings in November, 2007.