Let’s Review The Durham Region Real Estate Market Stats For March 2019

Spring is officially here and we’re hoping that will cue the heating of the Durham Region real estate market. Overall the month of March showed good signs of growth in the pricing department but left something to be desired in others. Let’s review how the real estate market performed in Durham Region throughout March 2019 in more depth.

 

New Listings Hitting The Market

These numbers tell all and there are no surprises. March saw 1617 new listings hitting the market. For contrast, new listings in February were sitting right at 1140. That’s a jump of 477 in a month-over-month comparison. There continues to be a lot of selection which is great for buyers.

 

More Homes Are Moving

February was a relatively stale month in terms of home sales, but the good news is that it all picks up in March. Last month there were 839 sales reported compared to only 585 in February. Real estate experts are hopeful that this trend continues upwards as spring ticks on.

 

Highlighting Oshawa

What’s even more important to highlight is the area with the most turnover. Within the Durham Region real estate market, Oshawa was the frontrunner in terms of most new listings (436) and the highest number of sales (232).

 

Prices Continue To Grow

Prices are on the rise and that is great news for sellers. Overall the average home price in Durham Region throughout the month of February was $580,743. However, in March that number jumps up to $604,796, equaling out to a growth rate of 4.14%.

 

The spring real estate market continues to be the hottest season for sales. If you’re looking to get into the market, give us a call today!