Durham Region Association of REALTORS® President Michael Watson reported 1,048 residential transactions for the month of August 2021 representing a 30 per cent decrease from the same time last year. The number of new listings reported in August reached 1,167, a 36 per cent decrease compared to August 2020. On a month-over-month basis sales were down by 5 per cent from July 2021. 

“The average selling price was up by 25 per cent when compared to the price reported in August 2020,” said Michael Watson. “There is clearly a strong demand for homeownership in the Durham region with a consistent substantial price increase in the Pickering, Whitby, Uxbridge and Scugog municipalities with selling prices going over $1 million. In addition to this, the composite benchmark average price for the Durham Region is $857,300 representing a 31 per cent increase from the same time last year for all home types.” 

According to a recent survey conducted by Nanos Research on behalf of DRAR, it was found that two in three Durham residents consider the region to be a good place to raise a family. Conversely, it also emphasized on the issues relating to affordable housing, healthcare, public transit and tough job market in the region. For this reason, we are taking the necessary steps and presenting these concerns to our policymakers to find solutions to the challenges faced by our residents. 

“Affordable housing continues to be a focal point in this upcoming Federal election and it’s remarkable that each party is focusing on addressing the national problem of affordability and supply. The advocacy efforts of our national association (CREA) and partner boards is noteworthy aiming to push the different levels of government to take prompt action and make housing within reach for Canadians.” 

In partnership with local Chambers of Commerce and board trades, DRAR is hosting MP candidates’ virtual forums for the riding of Oshawa; Ajax-Pickering & Uxbridge; Whitby on Sept. 8th and Sept. 9th respectively. 

• Greater Oshawa Chamber of Commerce - Sept. 8th live at Rogers TV Durham from 7 p.m. to 8 p.m. 
• (Please note this event will be recorded live and broadcasted at a later date) 
• Ajax-Pickering Board of Trade – Sept. 8th via Zoom from 11:30 a.m. to 1:00 p.m. 
• Whitby Chamber of Commerce – Sept. 9th via Zoom from 10 a.m. to 12 p.m. 

For more information, stay tuned to hear from your local candidates and their party platform on business issues.