DURHAM REGION, November 4, 2011 – Durham Region REALTORS® reported 800 sales in October which is a 9% decrease from September. So far in 2011 there have been a total of 8,605 sales in Durham Region.
In October, 1,352 new listings entered the market place bringing to total number of available homes to 2,167. “We are beginning to see the market slow as the temperature drops. The number of listings is down 20% this month from September bringing the number of available listings down 6% over all,” reported Dierdre Mullen, President of the Durham Region Association of REALTORS®.
However, the average selling price of a home in Durham Region still shows modest gains of 1% to $319,807 in October compared to $317,634 in September. This number is also slightly higher than the Year-to-Date average sales price of $317,447.
“The slow but steady market in Durham Region is due in part to low interest rates and affordability,” commented President Mullen.