Higher transaction numbers, moderate price gains and slight inventory increases all point to a healthy real estate market in the Durham Region. With the Bank Of Canada's recent announcement of interest rates likely remaining on hold in the short term, buyers and sellers are looking to make their move. Durham Region’s average sale price reached $612,195 in April 2019. According to the index and benchmark price in April 2019, Durham has the most affordable single-family detached homes compared to neighbouring markets.
Here are a couple quick takeaways from the month of April in Durham.
Sales numbers were up 16% Year-Over-Year (Y.O.Y) and 28% Month-Over-Month (M.O.M). Total transactions reached 1075 in April 2019, this is up from 930 in April 2018.
New listings only increased by 4.5% Y.O.Y. If sales numbers continue to remain strong we will likely start to see lower inventory levels and fewer average day's on market.
The average selling price in Durham was up 1.2% M.O.M. Clarington home prices saw the biggest increase M.O.M with a strong 4.6% gain made in April 2019.
If you’re looking to buy or sell, get more info on market trends or if you want to discuss Real Estate in more depth…Let’s get in touch today!