Housing Market Keeping Warm

DURHAM REGION, February 4, 2015 – Durham Region Association of REALTORS® (DRAR) President Sandra O’Donohue reported a strong start to 2015, with 512 residential transactions in January. This result is up 5.8 per cent from 484 in January of last year. “We also saw 884 new listings enter the market during January 2015, which is up 2.8 per cent compared to January 2014” reported O’Donohue.

The average selling price in the Durham Region reached $408,591 in January 2015. “The average home price has continued to rise into 2015, representing a 3.2 per cent increase from January 2014” commented O’Donohue. “Along with higher prices, homes are selling faster than they were in January of last year. In January 2015, the average home was sold in 26 days; down from 30 in the same period last year” reported O’Donohue.”Price growth is anticipated to continue into 2015 and with low borrowing rates, housing remains affordable throughout the Durham Region,” explained O’Donohue. “This trend is evidence that real estate remains a great investment and that Durham’s housing market is off to a great start with a promising forecast for 2015!”