Recap of the Durham Region Real Estate Market

Fall is just on the horizon and September is in full swing which makes it a great time to highlight what when on in the Durham Region real estate market throughout August 2018. Here’s a recap of the statistics put together by the Durham Region Association of Realtors.

 

This Month vs. Last Month

With a spike in late summer transactions, the Durham Region real estate market saw a 6% increase in a month-over-month comparison with 843 transactions reported in August. That’s a promising sign of what’s to come in the fall market.

 

Pricing Is Still A Hot Topic

While prices are still down slightly from the peak of last year’s sizzling market, they are sliding in at the number two spot for the highest averages recorded in Durham Region. The average selling price of a home in Durham reached $596,374 in a year-to-date analysis. When compared to 2017’s peak average of $628,005, the Durham market continues to show strong footing for future growth.

 

Average Time On The Market

In 2017, homes were selling before they even had a for sale sign out front, and you had to be ready to buy the moment you walked in the door. Fast forward to August 2018 and buyers have a little bit more breathing room to make a decision with the average home staying on the market for 28 days.

 

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