Durham Homes Are in Demand

DURHAM REGION, July 6, 2011 – The Durham Region Association of REALTORS® reported 1,046 sales for the month of June, a slight increase from 1,040 in May. This represents a 13.7% increase from June 2010 when there were 920 sales.

“At the mid-point of 2011 there have been a total of 5,057 sales which is a 7.6% decrease from the first half of 2010. However, this number is 1.4% higher than the 5 year average indicating that sales in the Durham Region remain stable” commented Dierdre Mullen, President of the Durham Region Association of REALTORS®.

The number of active listings is 2,119, down 2% since May and down 16.1% when compared to June of last year when there were 2,461 homes for sale.  This figure also represents a drop of 18.5% from the 5 year average.

“Even though the resale inventory is considerably lower than in previous years, we’re seeing a steady increase in the average selling price across the Region. The average selling price for June 2011 was $322,932 which shows a 2.2% increase from last month, a 6.1% increase from June 2010 and a 10.3% increase compared to the 5 year average. This trend suggests that Durham Region is in demand” said President Mullen.