DURHAM REGION, April 5, 2022 – The Durham Region Association of REALTORS® (DRAR) reported strong residential transaction growth in Durham Region in March 2022. On a month-to-month comparison from February 2022, residential transactions rose 23.5% to 1,390 last month.
DRAR President Meredith Kennedy also reported an increase in new listings to 2,473 in March 2022, an increase of over 53% over February 2022 and a 12% drop from the record setting period last year.
The average price in Durham Region has dropped 6.5% from last month to $1,148,685, and still remains the lowest amongst the GTA Regions. “There is a shift happening and we expect to see further corrections still but nothing overly substantial. Listings are up and so are the amount of sales which is great to see for so many buyers.” said DRAR President Meredith Kennedy.
The MLS® Home Price Index and Composite Benchmark price for all home types in Durham reached $1,158,100 – a 42.49% increase from 2021.
“Durham Region Association of REALTORS® continues to advocate on behalf of both buyers and sellers in the housing market,” Stated DRAR CEO Wendy Giroux. “We have several meetings this month with our area Federal and Provincial representatives and have been collaborating with local Boards of Trade and Chambers of Commerce in planning All Candidates events ahead of the June 2, Provincial Election. We want to ensure that affordable housing and housing affordability as well as supply remain top of mind for our elected officials.”
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
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