Durham Region reports an increase in transactions

DURHAM REGION, September 10, 2018 – Durham Region Association of REALTORS® (DRAR) President Dennis Roberts reported an increase in residential transactions on a month-over month basis in August. DRAR REALTORS® reported 843 residential transactions, a 6 per cent increase compared to July 2018 with an average 28 days on the market.

 “It is encouraging to see an increase in transactions as we enter the fall market. It was anticipated that we would see a hike in activity in the fall, and an increase in sales as well as the average selling price for the month of August is a very positive sign,” said Roberts. The average selling price in Durham Region reached $590,706 in August 2018 compared to $584,131 in July.

In the HOT market of 2017, the average sale price was $628,005. In 2018 the average price YTD is $596,374, 11.7 per cent higher than the 2016 average price of $533,828 and the second highest average price in Durham Region’s history. It is a great time to sell.  With only a 2.4 months supply of inventory currently available and a possible rate increase in the fall, right now may be the right time for Buyers to make that decision to purchase their next home.

Market conditions in the summer of 2018 were much tighter than the summer of 2017. Many homebuyers who may have waited to adjust to the new mortgage lending guidelines have renewed their search for a home and Durham Region continues to be the leader in affordable housing options for buyers in the GTA according to the MLS® Home Price Index.

REALTOR® Connect is Durham Region’s largest real estate trade show hosted by DRAR. The trade show includes Land Planning Information Sessions for ongoing and future planning in Clarington, Oshawa, Whitby, Ajax and the Region of Durham. The trade show, taking place Wednesday, September 19 at Deer Creek Golf & Banquet Facility, has over 50 exhibitors, professional development sessions, prize giveaways, networking and more. For more information, visit www.realtorconnect.wordpress.com.

Durham Region Association of REALTORS® on Facebook
@DurhamRENews on Twitter

To download the full Durham Region Housing Report, click below:

08 – Housing Report 

Picture of Isabelle Foley

Isabelle Foley

As Director of Member Success I strive to help members connect and get the most out of their chamber membership. I am an advocate for local businesses and passionate about spotlighting our community's success. Join the growth!


Stay up to date on the latest by subscribing to our newsletter

Related articles