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Average Selling Prices Increased in July

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Skeptical At First – Now 8 Years Later It’s Truly The Highlight of My Month!
I started coming to Durham REI meetings 8 years ago, and thought it was a good networking spot, but I wasn’t sure how much I would learn. It is truly the highlight of my month! I get education, networking, and hearing speaker’s new ideas and thoughts. Last year, I bought 3 properties by December, as I had people at Durham REI meetings tell me a hadn’t bought in a while. I recommend attending DurhamREI meetings, all the time.

Michael DominguezInvestor and RealtorWhitby, Ontario

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Average Selling Prices Increased in July

Durham Market Information

DURHAM REGION, August 7, 2014 – Durham Region Association of REALTORS® (DRAR) President Jane Hurst reported strong year-over-year growth for July 2014. Sales were up 12.3 per cent from 988 last year to 1,110 in July 2014. The number of new listings also increased with 1,577 resale homes entering the market in July, up 11 per cent from 1,418 last year.

The average price of resale homes in the Durham Region in the month of July was $395,393. “July’s average price is 8.8 per cent higher than July of last year” stated Hurst. The year-to-date average selling price has reached $389,615. “The 9.7 per cent year-over-year price increase is well above the rate of inflation” explained Hurst.

“Even with the increased average selling prices, we are still seeing strong demand for home ownership throughout the Durham Region” stated Hurst. “Real estate in Durham has remained a great investment opportunity and we expect selling prices to maintain their strength for the remainder of 2014”.