April Real Estate Market Update is Not Surprising

Durham Region Association of REALTORS® (DRAR) President Dennis Roberts reported 930 residential transactions in April 2018, a 10 percent increase from the same time in the previous month.

On a year-over-year basis, sales were down by 32 percent and the average selling price was down by 12 percent. The average selling price in Durham reached $609,813 in April 2018. In comparison, the average selling price was $598,412 the previous month. “Last year at this time the average selling prices were reaching a record peak.” Stated Roberts. “Market conditions should support moderate increases in home prices, which continues to be demonstrated by Durham’s month-over-month market changes.”

Durham Region continues to lead the GTA with the most affordable single-family detached homes, single-family attached, townhouses and apartments according to the MLS® Home Price Index. “It is no surprise Durham continues to lead the GTA with the most affordable housing.” Said Roberts. “Durham Region has been ranked one of the Top 25 Best Cities to Buy Real Estate in 2018, according to a report released by MoneySense.”

MoneySense also released a report last month ranking the Top 25 Neighbourhoods to Buy Real Estate. Eleven Durham Region neighbourhoods made the list, with Bowmanville ranked as the top neighbourhood to buy. “Durham is a desirable, affordable area with ongoing transportation expansion and economic growth.” Stated Roberts.

Source: http://durhamrealestate.org/blogEntry.cfm?b=16776