November 9, 2018
Durham Region Association of REALTORS® (DRAR) President Dennis Roberts reported a month-over-month increase in home sales and average sale price in Durham Region in October 2018.
DRAR REALTORS® reported 798 residential transactions in October 2018, a 3.2 per cent increase from the previous month, however a 5.6 per cent decrease from the same time last year. The average sale price in Durham Region for the month of October was $588,968 up slightly from September at $587,009. This is a 2.3 per cent increase from October 2017.
“Monthly sales growth has been positive in Durham Region since the spring. We anticipated it would take time to adjust to the mortgage changes and higher borrowing costs. The Durham market has remained strong,” said Roberts. “With listings down and sales up in October, we may see tighter market conditions moving forward,” stated Roberts. October saw 1,644 new listings, down 9.8 per cent month-over-month.
DRAR REALTORS® are committed to giving back to the community. Each year DRAR has a shelter-based Charity of Choice chosen for the Annual Christmas Dinner, Election and Charity Auction. This year, Durham Youth Housing and Support Services (Joanne’s House) is the Charity of Choice. DRAR REALTORS® have been raising funds and collecting donations to be auctioned at the Annual Christmas Dinner November 29th.
Joanne’s House offers tailored programs and support to homeless youth, and DRAR is excited to be able to help the organization accommodate, feed and educate local youth in need. The donated money from DRAR will allow Joanne’s House to expand its services and programs to include a cooking skills workshop, using the expertise of Durham College’s Centre For Food, as well as to provide household items for the youth to use once they find suitable housing.
“Joanne’s House is unique and invaluable to the youth that they serve; and we agree that all youth should have a place to call home where they feel welcomed, accepted and valued,” said Roberts.
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