Durham Region real estate report september 2020

| Market Report

Durham Region Real Estate Market Report For September 2020

Low inventory is still driving a very competitive market. Overall, Oshawa has been the most highly impacted municipality throughout the summer months and has seen significant growth in average home prices when compared to previous years.

Here are some trends that we’re keeping our eye on:

  1. Home value throughout the region: The average price of all home types climbed to $734,038 in Durham (even higher for detached homes) which is a 20% price increase over this time last year. However, in a month-over-month comparison, the average price overall dropped 0.01% from August 2020. With fierce competition continuing to drive price increases, we’re tightly analyzing pricing trends to stay one step ahead for both our buyers and sellers.
  2. How the ongoing effects of the COVID-19 will impact the real estate industry: Experts are still predicting that there will be a cooling in the market and a decrease in pricing throughout 2021 due to fallout from the pandemic. In addition to keeping an eye on real estate-specific data, we’re also closely monitoring any economic fallout that may impact pricing.
  3. In-person showings: As case counts continue to mount, we’re keeping a close eye on the introduction of new regulations. During the onset of the pandemic, open houses were kiboshed and replaced with virtual 3D walkthroughs. Once again OREA is calling for this regulation to be reintroduced. While safe in-person showings remain an option, we may see tighter restrictions introduced as we head into the cooler months.

Durham Region

september 2020 market watch

 

Pickering

Pickering Market Watch September 2020

 

Ajax

Ajax Market Watch September 2020

 

Whitby

Whitby Market Watch September 2020

 

Oshawa

Oshawa Market Watch September 2020

 

Clarington

Clarington Market Watch September 2020

 

This market is extremely competitive and you need the right agent by your side to help. Ready to make your next move? We can help. Give us a call today!