Durham Re-Sale Market On Track to See Positive Year-End Sales Figures

DURHAM REGION – REALTORS® in Durham Region reported 967 sales for the month of July, 155 fewer sales than the 1,122 sales in June. “As expected, the region had fewer sales this month over last. July and August commonly experience a lower number of sales as people take their summer holidays. With 7,001 homes sold so far in 2012, we are on track to see very positive year-end sales figures,” commented Durham Region Association of REALTORS® President, Christine Marquis.

As of the end of July there were 1,958 active listings, a 2.6% reduction from last month. The Months of Inventory Indicator is currently at 2.2 which represents how long (in months) it would take to sell all the active listings if no new listings entered the marketplace. “Any number less than 2.5 would indicate a strong selling market and this is what we are seeing in many communities across Durham Region but especially in Ajax and Whitby,” added President Marquis.

The average selling price in Durham Region is $338,102 for July, down 2% since June when the average price was $344,907. The year-to-date average selling price is currently at $335,771.