Strong July Sales for Durham Region Housing Market

DURHAM REGION – The Durham Region Association of REALTORS® (DRAR) reported a 2% increase in the number of sales in July compared to July of 2012. A total of 988 re-sale homes changed hands this month, bringing the year-to-date sales to 6,511. “We often start to see the market slow a little in summer as many people take vacations, but sales were very strong in July,” commented DRAR President Ian Smith.

New listings were up 1% from last July with 1,418 homes entering the market leaving an inventory of 1,699 available re-sale homes as of the end of the month. Year-to-date inventory is down 6% compared to this time last year.

The average selling price in July was $363,287 which brought the year-to-date average price up slightly to 355,016. This represents a 6% increase over this time last year. “We continue to see the average selling prices rise in Durham Region, but there is still tremendous value for buyers,” commented President Smith.