Durham Region Real Estate Market Update For November 2020

Prices are still the hot topic of the Durham Region real estate market as we head into the end of 2020. On average, home prices in Durham Region are up 24.7% compared to this time last year. Knocking Oshawa out of first place, Pickering led the pack this month with a 31.4% pricing jump in a year-over-year comparison. Pricing aside, inventory still remains low with many municipalities seeing little to no increase in new listings when compared to November 2019. Low inventory is still driving strong competition which is leading to homes leaving the market on average of 9 days soon than this time last year. Bottom line, it’s a seller’s market and if you’re looking to get top dollar for your home, we’re ready to help!

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

Home value throughout the region: Across the Region, the average price jumped up to $762,739 (up 24.7% year-over-year). What’s even more telling is the month-over-month comparison which has seen the average price of homes rise 3% between October and November. While Northumberland and Peterborough/Kawartha markets have shown signs of slowing, Durham continues to be a very sought after area with lots of competition which will keep driving overall home value.
In-person showings: With Durham Region entering the red zone and buyers from Toronto in lockdown mode, we’re keeping a close eye on what this means for the Durham Region real estate market. As it stands currently, we’re still able to facilitate in-person showings and will be ready to react if that should change.

Durham Region

Pickering

Ajax

Whitby

Oshawa

Clarington

Homes are hitting record prices but they won’t sell themselves. Combined with our expertise and a competitive marketing strategy, our homeowners have seen offers as high as $130,000 over asking just last month alone. Are you ready to fetch top dollar for your home? We can help. Give us a call today!