September 4, 2015
DURHAM REGION, September 4, 2015 - Durham Region Association of REALTORS® (DRAR) President Sandra O’Donohue reported 984 residential transactions in August 2015. This represents an increase of 7.1 per cent compared to the same period last year. “On top of more sales, we have also seen more listings enter the market,” added O’Donohue. The number of new listings in August 2015 was 1,328 compared to 1,209 in August 2014. In Durham Region, Link homes had the highest sales growth; a 54 per cent increase in the number of sales compared to the same period last year.
“The market trend for 2015 has been rising home prices. Month-to-month, we are still seeing prices swell in comparison to last year’s market,” explained O’Donohue. The average price for resale homes in the Durham Region for the month of August was $446,311, up 14 per cent from $388,690 in August 2014. Link homes are also leading with the highest price growth of all major home types in the Durham Region.
“Buyers remain eager to purchase homes in Durham while still keeping affordability in mind, “ commented O’Donohue. “We have begun to see more listings enter the market in comparison to last year, which gives buyers more inventory to choose from, however, the market is still very much a seller’s market and we expect that trend to continue later into the year”.
Durham REALTORS®, We Work Where You Live. To contact a local Durham Association REALTOR® or to search for a weekend open house or listings in your neighbourhood, please visit www.DurhamRealEstate.org
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