The Durham Region Association of REALTORS® (DRAR) reported 410 sales for the month of December which brings the total sales for the year to 10,549 an increase of 7.6% over last year. Brock and Clarington municipalities saw the largest year-over-year increases of 15% and 17% respectively.
The average price of a home in the region was $327,271 in December which brings the average price for the year to $335,991. This figure represents an increase of 5.6% compared to 2011. “Average selling prices and the number of sales are up this year and we expect that trend to continue in 2013,” commented Ian Smith, President of the Durham Region Association of REALTORS®.
“Durham Region continues to offer homeowners great amenities. The expansion of Highway 7, the widening of Bloor Street and the extension of the 407 will bring many new opportunities. These improvements in transportation access to and from Durham Region will make Durham an even better place to live and work,” added President Smith.
Quentin D’Souza is the Chief Education Officer of the Durham Real Estate Investor Club. Author of The Property Management Toolbox: A How-To Guide for Ontario Real Estate Investors and Landlords and The Ultimate Wealth Strategy: Your Complete Guide to Buying, Fixing, Refinancing, and Renting Real Estate.