Durham’s real estate market continues to remain strong

October 8, 2017

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Durham’s real estate market continues to remain strong

DURHAM REGION, October 4, 2017 – Durham Region Association of REALTORS® (DRAR) President Roger Bouma reported 835 residential transactions in September 2017, down 23 per cent compared to September 2016. However, this was a slight increase over the previous month.

September also saw an increase in the number of new listings in Durham (1,914), compared to the 1,556 new listings reported in September 2016.

The average housing price for September in Durham Region was $578,666, a slight decrease over the previous month, however an increase of 4.25% over the same period last year.

Homes listed on the market continue to sell in an average of 23 days.

Durham’s condo apartment continues to be strong, with sales up 16% compared to the same period last year, and the average sale price rising to $365,397, from the $314,839 reported in September 2016.

“Polls indicate that buying intentions over the next year remain strong,” notes Bouma. “Durham Region is still one of the best places to live, work and play. We offer the best real estate value in the GTA.”

Bouma added that with Metrolinx’s expansion plans of GO train service to our eastern corridors it will only improve the lives of residents making it easier for them to commute. The Bowmanville GO train extension will open four new stations (two in Oshawa, one in Courtice and one in Bowmanville) and will make living in the east even more palatable for residents.

Read full housing report here.