July 21, 2011
DURHAM REGION, March 8, 2011 –Home sales in Durham Region climbed by 29% from 505 in January to 653 in February reported Dierdre Mullen, President of the Durham Region Association of REALTORS®. This still represents a reduction of 20% from 819 sales in February of 2010 when there was a rush on to purchase before the implementation of HST.
The average price for February of $301,855 was virtually the same as January’s yet also reflects a 5% increase from $286,635 last February.
Listings available on the Multiple Listing System® (MLS®) remain relatively low at 1640. There are 13.7% more homes for sales since January (1415) but when compared with February 2010’s 1716, the inventory is still 4 percent lower.
President Dierdre Mullen commented that “With sales activity on the rise and home prices stabilizing since last autumn, we expect sellers who hesitated to get into the market in 2010 to list their properties in 2011. With sales and new listings increasing in tandem, the market has remained balanced.”
Durham REALTORS® We Work Where You Live. To contact a local Durham Association REALTOR® for more specific and local housing statistics or search for a weekend open house or listings in your neighbourhood, please visit wwwDurhamRealEstate.org.
AVERAGE SELLING PRICE BY HOUSING TYPE ($)
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