DURHAM REGION, February 4, 2016 –Durham Region Association of REALTORS® (DRAR) President Sandra O’Donohue reported 508 residential transactions in January 2016. “We are right on par with the number of sales in January 2015, however, the number of listings has decreased substantially”, reported O’Donohue. There were 788 new listings that entered the market in January 2016 compared to 884 in January 2015.
The average selling price in January 2016 was $446,117.00, a 9.2 per cent increase from January 2015. “The decrease in the number of listings entering the market has created upwards pressure on sale prices across the Region”, explained O’Donohue.
“There is strong demand for home ownership in the Durham Region which is demonstrated by the higher number of sales and the climbing sale prices,” explained O’Donohue. “Even with the robust price growth, we can see that buyers continue to view home ownership within the Durham Region as a great long-term investment”.
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
Article posted by: DRAR