DURHAM REGION, December 3, 2021 – Durham Region Association of REALTORS® (DRAR) President Mer­edith Kennedy reported 1013 residential transactions in November 2021 representing a slight decrease of 75 transactions from the same period last year. The number of new listings reported in November of this year, re­mains steady at 1044. On a month-over-month basis, transactions were slightly lower by 3% from October 2021, with 1013 home transactions finalized.

 “The average selling price increased by 30.9% to $998,594 in November 2021 when compared to the average price of $762,739 reported in November 2020. The average selling price increased slightly on a month-over-month basis from $988,354 reported in October, while averaging 8 days on market.” said Kennedy. “We continue to see elevated price growth on a monthly basis as the demand for homeownership remains strong, while supply continues to be limited.” 

 The Durham Region Association of REALTORS® continues to advocate to our municipal, provincial and federal representatives for greater ease and more investment into developing housing affordability.”

The MLS® Home Price Index (HPI) composite benchmark price in Durham Region was $968,500 a 33.4 per cent increase from November 2020. The HPI benchmark price for a single family detached home in Durham was $1,056,100 in November 2021. In Durham Region’s Oshawa market, the benchmark price for a detached home was $882,500, a double-digit increase compared to the same time last year.

DRAR welcomes its 2022 Board of Directors: Meredith Kennedy as President, Michael Watson as Past President and Directors: Vicki Sweeney, Alex Down, Danielle Stephens, Trevor Johnston, Patti Robertson and Nicole Tanner. “I am truly delighted to have this incredibly talented group of Real Estate Professionals to help lead our Association in 2022.  I extend my heartfelt thanks to the outgoing board for your strong leadership and dedication to our Association.” stated DRAR President Meredith Kennedy.

 As we inch closer to the inevitably coldest time of year, Durham Region Association of REALTORS® and the Canadian REALTORS Care^® Foundation is proud to have partnered with one of our 2021 Charities of Choice, Back Door Mission for the Relief of Poverty, with a donation of $1000 worth of warm gloves and mittens for their incredible outreach program. 

Durham REALTORS®, We Work Where You Live. To contact a local Durham Association REALTOR® or to search for a weekend open house or listings in your neighbourhood, please visit www.DurhamRealEstate.org

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