December 6, 2012
DURHAM REGION, –The Durham Region Association of REALTORS® (DRAR) reported a 1% increase in the average price of a re-sale home to $342,154 in November compared to $339,102 in October. “This month’s figures have had a slight impact on the year-to-date average which is at $336,361 as of the end of November. This is good news for Durham Region because it shows moderate upward movement in values while still maintaining affordability,” commented Christine Marquis, President of the Durham Region Association of REALTORS®.
The number of sales in November fell 11% to 749 for the month compared to 849 homes sold in October. This brings the year-to-date sales to 10,158. “Each year as we get into late fall, we start to see the housing market slow down, which has been intensified this year by changes in mortgage lending guidelines.” commented President Marquis
The number of available resale homes also decreased by 14% in November. As of the end of the month there were 1,506 homes on the market in the Region.
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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