DURHAM REGION – The Durham Region Association of REALTORS® (DRAR) reported 955 sales in August, up 6% compared to August of 2012. So far this year there have been a total of 7,430 residential sales in Durham Region.
New listings increased 3.6% from last August with 1,323 re-sale homes entering the Durham market this month. There were 1,604 active listings as of the end of August. So far this year there have been a total of 11,685 listings, a 5% reduction compare to this time last year where there had been 12,302.
“Something interesting this month in our stats is that when you look at the dollar volume of the transactions so far this year ($2,643,916,897), we are on par with where we were last year at this time ($2,644,080,722), even though there have been less sales year-to-date. This is directly reflective of the increase in average selling prices in Durham Region,” explained Ian Smith, DRAR President.
“The average selling price in August was $360,759 which brought the year-to-date average price up to $355,843. This represents a 6% increase compared to August of last year and a 6% increase year-to-date compared to 2012,” reported Smith.
Quentin D’Souza is the Chief Education Officer of the Durham Real Estate Investor Club. Author of The Property Management Toolbox: A How-To Guide for Ontario Real Estate Investors and Landlords and The Ultimate Wealth Strategy: Your Complete Guide to Buying, Fixing, Refinancing, and Renting Real Estate.