Durham Region Real Estate Market Report: June 2018

Summer is just heating up and so is the housing market here in Durham. Here’s everything you need to know about the Durham Region real estate market throughout June 2018.

 

Sales Climbed In Month-Over-Month Comparisons

Overall sales were up almost 7% in June when compared to May 2018 with the Durham Region Association of Realtors citing 918 transactions. What’s even more impressive is that they are only down just under 8% from when last year’s hot market conditions were just beginning to taper off.

 

We Saw A Drop In Listings

In contrast to what we saw throughout the first half of the year, listings were down from May to June. In May, Durham Region boasted 2247 new listings and is down to 1895 in this June. Although the new listings are down, buyers still have plenty of homes to choose from.

 

Prices Are Still On The Rise

This is great news for sellers and showcases that there are still lots of serious buyers on the market despite the implementation of mortgage stress tests and the potential of rises in interest rates. In month-over-month comparisons, home prices were up just over 2% up to $610,728 in June 2018.

 

Looking to capitalize on the hot summer market? Put the top agent in your neighbourhood to work for you, call Asim today. today!