Trends In The Durham Region Real Estate Market Throughout April 2018

It’s that time again – here are some insights into what we saw in the Durham Region real estate market throughout April 2018.

 

Before we jump right into the numbers, let’s quickly take a jog down memory lane to this time last year. Prices were skyrocketing, homes were selling before the for sale sign even hit the lawn. It was a sellers’ paradise and many buyers were getting their hopes up only to be outbid by multiple offers. The market was HOT! This year, we’re seeing more stability overall and consistent growth. This is great for buyers as there is a little more room to breath. Don’t get us wrong, you still need to act fast if you want to snatch up your dream home, but you can sleep on it. For sellers, home values continue to move up the meter, giving you even better ROI on your initial investment. Alright, now let’s dive into the details.

 

Pricing Continues An Upward Trend

Although still down from this time last year, month-over-month, the prices continue to rebound. In Durham Region, prices are up almost $10,000 from the average price of $598,412 in March to $609,813 in April.

 

Year-Over-Year Comparison

It’s no surprise that in a year-over-year comparison, the market is down. This time last year was the pinnacle of the hot market. Fast forward to April 2018 and the market sales are down by 32% with the average price down 12%. Not bad considering how on fire the market was in the spring of 2017.

 

Where To Buy

Currently, neighbourhoods in Oshawa and Clarington are showing the lowest average home prices, so if you’re looking to get into the market this will be the place to start.

 

Are you ready to dive into the Durham Region real estate market? Give us a call today!