Strong Year for Durham Home Sales

DURHAM REGION, January 5, 2011 – The resale housing market in Durham Region cooled in December with 517 sales which was ­­­­254 fewer sales than in November. “This kind of market activity is very typical for this time of year. Overall 2011 has been a strong year with a total of 9,807 sales in the region,” commented Christine Marquis, President of the Durham Region Association of REALTORS®.

In December, 548 new listings were added to the inventory of available re-sale homes bringing the total to 1,592 active listings, down 16% from November and 23% from the 6 month average.

“Average prices in the Region have also remained robust this year. Sellers have seen a moderate increase in the equity of their homes, while home buyers are still getting excellent value for their dollar,” said President Marquis. The average selling price for December was $315,793, bringing the year-to-date average to $317,232.

The Durham Association of REALTORS® believe that one of the keys to maintaining a high quality of life in Durham Region is a strong economy and we are encouraged by the level of economic activity that is occurring around the Region. Consumers recognize that Durham has a lot to offer and we expect to see sales figures and average selling prices continue to experience modest growth in 2012,” added Marquis.