December 7, 2020
The Durham Region Association of REALTORS® (DRAR) President Michael Watson reported 1,088 residential transactions in November 2020 representing a 25 per cent increase from November 2019. The number of new listings in Durham reached 1,042 with the average price in Durham at $762,739 last month.
The average selling price increased by 25 per cent compared to the average price in November 2019. The MLS® Home Price Index Benchmark Price in Durham Region was $691,000, a 19.91 per cent increase from the previous year. The Benchmark Price for a single-family detached home in Oshawa was $629,800.
“Home buyers continue to seek the options in Durham Region’s housing market while taking advantage taking advantage of the low interest rates. It is important to note the low supply and demand in today’s market will continue to drive competition and tighten market conditions,” said Watson.
“The announcement of General Motors returning to Oshawa to reopen an assembly plant, is great news for Durham Region. Oshawa continues to be an ideal location for new home buyers with a variety of housing options,” said Watson. “Oshawa is expected to have a strong GDP and economic recovery in 2021. General Motors is expecting to bring up to 2,500 jobs, driving the economic recovery.”
On November 26th, DRAR’s 2021 Board of Directors were installed with Michael Watson as the 2021 President. The Board welcomes newly elected Directors Danielle Stephens and Alex Down.
“Welcome to our newly elected Directors and thank you to our amazing Directors Keeley Ward and Tina Sorichetti who have both served on the Board for a number of years. Thank you for your service and dedication to organized real estate and the Board at DRAR,” Watson. “I look forward to working with the 2021 Board of Directors: Vicki Sweeney, Past-President; Meredith Kennedy, Director-at-Large; Dennis Roberts, Director-at-Large; Sue Duchesnay, Director-at-Large; Scott White, Director-at-Large; Danielle Stephens, Director-at-Large; Alex Down, Director-at-Large.”
During REALTORS Care® Week DRAR REALTORS® donated $1,000 of non-perishable food items and $5,000 to Feed the Need in Durham. REALTORS Care® Week is annual event that happens in November from 23-27 to raise awareness about housing and shelter-related issues in the community
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