DURHAM REGION, October 3, 2014 – Durham Region Association of REALTORS® (DRAR) President Jane Hurst reported 970 sales in September 2014. This result represents a 14.8 per cent increase compared to 845 sales in September 2013. On a year-to-date basis, sales were up 5 per cent annually through the first three quarters of the year.
“The increase in sales activity stems from increasing buyer interest” stated President Hurst. “We also saw a 21.7 per cent increase in the number of resale homes entering the market since last month”. The number of new listings that entered the market in September 2014 was 1,471 compared to 1,209 in August 2014.
“We have also seen a large increase in the average selling price in Durham” reported Hurst. The average price of resale homes in Durham Region in the month of September reached was $401,713. “This represents a 13.6 per cent increase over the same period last year” .
“The willingness of buyers coupled with low borrowing rates keeps home ownership affordable” said Hurst. “Property values continue to rise which makes Durham Region a great place to work and live”.
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.