Durham Region Home Sales Continue to Climb

DURHAM REGION, March 6, 2012 – Durham REALTORS® reported 848 sales in the month of February, an increase of 266 sales or 31% from January.

“As of the end of February, Durham Region had 1,745 active listings marking an increase of 19% over January. Oshawa and Clarington have the highest number of re-sale homes available with 389 and 290 respectively,” explained Christine Marquis, President of the Durham Region Association of REALTORS®.

The Months of Inventory indicator (MOI) is holding steady at 2.5 for the Region which means that it would take 2.5 months to sell every home that is currently listed for sale (assuming no additional homes were listed). Tight market conditions continue in Ajax and Whitby with a Months of Inventory Indicator of less than two.

The average selling price of a re-sale home in the Region was $325,307 for the month of February, an increase of 2% from January. “We are starting to see steady but modest increases in home prices so far in 2012 which indicates a strong re-sale market in Durham Region. The year-to-date average selling price now sits at $322,199” added Marquis.