November 5, 2012
DURHAM REGION, November 5, 2012 –The Durham Region Association of REALTORS® (DRAR) reported an 11% increase in the number of sales for the month of October (849) compared to 763 homes sold in September. “As we predicted last month, the sales numbers have increased to meet last month’s boost in inventory,” commented DRAR President, Christine Marquis. This brings the year-to-date sales to 9,432.
The average selling price of a re-sale home saw a small increase (1%) in October to $339,102 compared to $336,313 in September. The year-to-date average price of a home in Durham Region is now at $336,036.
“The number of available resale homes fell by 10% in October which isn’t uncommon to see this time of year,” added President Marquis. “As of the end of the month there were 1,758 homes on the market in the Region.”
The Months of Inventory Indicator (MOI) is currently at 2.1 which represents how long (in months) it would take to sell all the active listings if no new listings entered the marketplace. “Any number less than 2.5 would indicate a strong selling market and this is what we are seeing in many communities across Durham Region but especially in Ajax and Whitby which have an MOI of 1.6,” explained President Marquis.
www.DurhamRealEstate.org.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
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