The Durham Region Association of REALTORS® (DRAR) reported 845 sales in September, up 11% compared to 763 in September of 2012. So far this year there have been a total of 8,251 residential sales in Durham Region.
The number of new listings decreased 0.7% from 1430 last September to 1,419 in the Durham market this month. There were 1,717 active listings as of the end of September. So far this year there have been a total of 13,096 listings, a 4.6% reduction compared to this time last year.
“With the decrease in new listings, we are finding that homes are spending less time on the market. Average days on market have reduced to 25 from 28 at the same time last year. ” explained Ian Smith, DRAR President.
“Year-to-date average prices are up 5.8% to $355,613 which bodes well for home investments in Durham Region” President Smith added.
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.