Durham Region Real Estate Market Report: October 2018

With a slower than expected September, the market gained steam in last month. Here’s a recap of how the market fared throughout October 2018 with numbers put together by the Durham Region Association of Realtors.

 

Transactions Are Picking Up Steam

While this fall was predicting to be a hot real estate marketing, September had a rather lacklustre performance. Fast forward to October 2018 and the market was gaining momentum with a 3.2% month-over-month increase and 798 residential transactions.

 

Comparison To Last Fall

Although the market is still climbing, and we saw a rise in transactions throughout the month of October, sales were down 5.6 percent in a year-over-year comparison.

 

What’s A Home Worth This Month?

Great news for sellers, home prices continue to rise. We saw prices take a slight dip when the market cooled, but the good news is home prices are successfully climbing and up 2.3% compared to this time last year. In comparison to last month, we saw almost a $2000 increase in the average home price.

 

Number Of New Listings

It’s no surprise as we head into the holiday season that there was a 9.8% drop in the number of new listings on the market this month. Overall, the Durham Region real estate market saw 1,644 new listings enter the market.

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