Low Interest Rates Continue to Inspire Savvy Buyers

DURHAM REGION, December 8, 2011 – Christine Marquis, 2012 President of the Durham Region Association of REALTORS®, reported “Residential sales in Durham Region remain healthy at 771 sales for the month of November reflecting only a 4% decrease from October sales figures. This brings the Year-to-Date sales to 9,347, which is a very strong number for 2011.”

The average selling price of a re-sale home in Durham is holding at $317,106 compared to $319,807 last month representing a less than 1% decrease. “The number of sales and selling prices remain resilient across the region as we head into the winter months,” added Marquis. Detached homes made up 70% of the total number of transactions in November with the next largest piece of the market being Townhouses at 11%.

Durham Region saw 1,061 new listings enter the marketplace bringing the number of active listings to 1, 902. “We are beginning to see the market cool as it traditionally does this time of year. New and active listings are down 27% and 14% respectively but low interest rates continue to inspire savvy buyers. Excellent opportunities exist on both sides of the table,” commented President Marquis.

Durham REALTORS®, We Work Where You Live.  To contact a local Durham Association REALTOR® for more specific and local housing statistics or search for a weekend open house or listings in your neighbourhood, please visit www.DurhamRealEstate.org.