Record High Sales and Average Prices for 2014

DURHAM REGION, January 7, 2015 – Durham Region Association of REALTORS® (DRAR) President Sandra O’Donohue reported 10,841 residential sales through the MLS® System in 2014, including 478 in December. The 2014 sales result represents a 5.1 per cent increase compared to 10,312 sales in 2013. “Historically, this is the highest number of sales that the Region has seen” commented O’Donohue.

“Along with a record high number of sales, we have also seen average selling prices soar in 2014” added O’Donohue. The calendar year 2013 saw an average selling price of $357,529, while the average selling price for the calendar year 2014 reached $391,692, an increase of 9.6 per cent. “The average selling price for 2014 also set a record for Durham” added O’Donohue.

“The strong growth experienced throughout 2014 was fuelled by a high demand for homes coupled with a shortage of listings. That, together with low borrowing rates created a market suited for sellers with high competition between buyers. The 2014 sales figures are evidence to the importance of home ownership in the eyes of Durham households” said O’Donohue.