July 6, 2021
Durham Region Association of REALTORS® (DRAR) President Michael Watson reported 1,424 residential transactions in June 2021 representing an 11 per cent increase from the same time last year. The number of new listings reported in June reached 1,654, a decrease compared to June 2020. On a month-over-month basis sales were down 10 per cent from May 2021.
“The average selling price increased by double digits in June when compared to the average price reported in June 2020,” said Michael Watson. “We continue to see a trend of moderate price growth on a monthly basis as the demand for homeownership remains strong.”
The average selling price in Durham Region was $917,267 in June with houses staying on the market for an overage of 10 days. The average selling price increased slightly on a month-over-month basis from $902,135 reported in May.
The MLS® Home Price Index composite benchmark price in Durham Region was $836,600 a 36 per cent increase from June 2020. The benchmark price for a single family detached home in Durham was $908,900 in June. In Durham Region’s popular Oshawa market, the benchmark price for a detached home was $762, 500, a double-digit increase compared to the same time last year.
“The increase of home sales when compared to the same time last year is a consistent trend we are experiencing in Durham Region. The demand remains high and Durham Region offers a wide variety of housing options,” stated Watson. “We are transitioning from record reporting of market activity to consistent increases over the past few months.”
DRAR is pleased with the provincial government’s decision to create a new Home Builder Code of Ethics to protect homebuying interests. Effective July 1, 2021 the new Code of Ethics under the New Home Construction Licensing Act, 2017 will ensure that consumers have the same level of protection when buying a home from a REALTOR® or a builder. This change will support greater transparency and put an end to bad behaviour in the marketplace.
(905) 723-8184
(905) 723-7531
Close
Register
Log in
Mortgage calculator
