Durham Region Real Estate Market Report: May 2019

 

Spring has sprung in the Durham Region real estate market with the market showing promising signs of improvement in a year-over-year comparison. Homes are moving and prices are holding strong! Let’s take a more in-depth look at how the Region fared throughout the month of May.

 

Listings & Sales

In May, the Durham Region real estate market saw a 5.1% increase in the number of homes listed. How about sales you ask? Sales are up a whopping 27.9% on average throughout the Region. Last year in May, there were 919 sales. This May, the Region had 1176 transactions. Oshawa continues to hold the lead in terms of new listings and sales, with Whitby trailing close behind.

 

What’s A Home Worth In The Durham Region?

They’re on the rise! Home prices within the Durham Region real estate market continue to climb this month. Last month the average price in Durham was $612,195. This month, prices are up 1.7%, coming in at $622,292. In terms of year-over-year comparison, the average price has risen 4.3% – from $596,591 to $622,292 respectively.

 

How Long Are Homes Staying On The Market?

The average number of days on the market for homes in the Durham Region is 19. This number is on par with last year at the time. Pickering is seeing the most expedient turnaround time with an average of 16 days from listing date to sale. In contrast, Clarington saw a jump in days on the market with the average property selling in 21 days vs. 16 days in May of 2018.

 

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