DURHAM REGION – The Durham Region Association of REALTORS® (DRAR) reported 720 sales in November, down 6.5 per cent from 749 sales in November 2012. Year-to-date, there have been 9,872 sales in Durham Region, which is down 2.8 per cent compared to 10,158 at this time last year.
“Although the number of sales is down, we are still seeing an increased average selling price compared to last year” explained Ian Smith, DRAR President. The average selling price in Durham Region was $368,381 last month. “Our selling prices are up 7.6 per cent in comparison to $342,154 in November of 2012” reported Smith.
The year-to-date average selling price of $357,463 is up 6.3 per cent compared to $336,361 last year. “Durham’s housing market is still very much a seller’s market” explained Smith “and it looks like the trend may continue into the New Year”.
Quentin D’Souza is the Chief Education Officer of the Durham Real Estate Investor Club. Author of The Action Taker's Real Estate Investing Planner, The Property Management Toolbox: A How-To Guide for Ontario Real Estate Investors and Landlords, The Filling Vacancies Toolbox: A Step-By-Step Guide for Ontario Real Estate Investors and Landlords for Renting Out Residential Real Estate, and The Ultimate Wealth Strategy: Your Complete Guide to Buying, Fixing, Refinancing, and Renting Real Estate.