July 21, 2011
DURHAM REGION, June 3, 2011 – Durham REALTORS® reported 1,040 sales for the month of May, an increase of 9.6% over last month and represents a small increase of 1.3% over May 2010.
The average selling price in Durham Region for May was $316,057 down slightly from last month when we saw an average selling price of $321,042. However, when looking at the historical data, the average selling price of houses in the Durham Region has been steadily increasing over the last 5 years. This month’s average represents an 8.6% increase over the 5 year average.
“Durham Region is becoming more desirable to consumers because it offers affordable family living,” said President of the Durham Region Association of REALTORS®, Dierdre Mullen.
Compared to April the number of active listings is up by 6.3% to 2,162 homes for sale; however this is still a 16.8% reduction in the resale inventory over this time last year which offered 2,600 available listings.
“The spring market is starting to bloom. Houses are on the market for an average of 29 days and are selling for an average of 98% of list price. We expect to see a proportionate increase in the number of available listings and sales through the early summer,” said President Mullen.
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 www.DurhamRealEstate.org.
(905) 723-8184
(905) 723-7531
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