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.