Durham Real Estate Remains Stable

DURHAM REGION, September 8, 2011 – The Durham Region Association of REALTORS® reported 815 sales for the month of August, a decrease of 11% from July when there were 906 sales. There have been 6,988 sales so far in 2011 which represents a 2% reduction compared to this time last year. “The decrease in number of sales from July to August is consistent with the market trends in previous years. Summer months tend to slow down when people are on vacation,” commented Dierdre Mullen, President of the Durham Region Association of REALTORS®.

Durham Region saw 1,401 new listings in August bringing the total number of homes available for resale to 2,251. “The number of new listings have increased by 5.5% over last month, while the number of available listings remains steady”, said President Mullen.

The average selling price of a home in Durham Region dipped 4% from July to $316,938 in August. However, this is still a 1.5% increase over August of 2010. The year-to-date average selling price in Durham Region is $317,306, a 4.4% increase over last year.

http://www.durhamrealestate.org/blogEntry.cfm?b=1119