DURHAM REGION – The Durham Region Association of REALTORS® (DRAR) reported 400 sales for the month of December which brings the total sales for the year to 10,312, a decrease of 2.2 per cent from 10,549 last year.
The average price of a home in the region was $360,741 in December which brings the average price for the year to $357,529. This figure represents an increase of 6.4 per cent compared to $335,991 in 2012. “The trend for 2013 was lower sales, but higher selling prices. This is the sign of a seller’s market, and we expect that trend to continue into 2014,” commented Jane Hurst, President of the Durham Region Association of REALTORS®.
“Durham Region is growing as evidenced by current infrastructure projects such as the 407, proposed extension and facilities for Transit, and thriving post-secondary education opportunities. Major developments and investments across the Region will attract new business and people to each of our communities. The upcoming improvements will make Durham an even better place to work and live” added President Hurst.