The Durham Region Association of REALTORS® (DRAR) President Vicki Sweeney reported a continuation of year-over-year sales growth in Durham Region. November 2019 reported 872 residential transactions representing a 19.5 per cent increase compared to the same time last year.

“The housing market in Durham Region has seen significant year-over-year sales growth in 2019. The number of new listings in Durham for the month of November was down in comparison to the same time last year and this trend is anticipated as we enter the winter market,” stated Sweeney. “It is encouraging to see the days on market decrease from 27 days in November 2018 to 23 days this past month.”

The average selling price in Durham Region reached $611,872 representing an increase from $590,403 this time last year. The MLS® Home Price Index (HPI) Composite Benchmark increased by 4.87 per cent year-over-year. The MLS® HPI composite benchmark price for a single-family detached home in Durham Region’s Oshawa market reached $515,400 in November 2019.

“Durham Region continues to remain an ideal location for home buyers looking for a variety of housing options and communities. As we see the continued sales growth in Durham, it is important to note the supply needs to meet the demand. In November 2019 the Months of Inventory (MOI) in Durham was 1.6,” said DRAR President Vicki Sweeney.

“It is an honour to announce that over $35,000 was raised this past year for DRAR’s 2019 Charity of Choice Grandview Children’s Foundation,” said Sweeney. Each year, a local charity is selected as the Charity of Choice and is the recipient of the Ontario REALTORS Care® Foundation dollar-per-member per-month program as well as proceeds from DRAR’s annual Charity Auction. Last year, Grandview provided more than 6,000 children and youth with physiotherapy, audiology, therapeutic play, speech and language services and occupational therapy. As the region’s population grows, so does the demand for Grandview’s specialized services. 3,300 children were on the waiting list in 2018. Funds raised by DRAR members will support the new Grandview Children’s Centre in Ajax. The new facility is expected to open in 2020.

“REALTORS® play meaningful roles in the communities they work and live in, often outside of their regular work hours. From donating money to a cause close to their hearts or volunteering at local charities, the generosity of REALTORS® knows no bounds,” said Sweeney.