Durham Housing Market Continues To Lead GTA With 26 Per Cent Price Increase

Durham Region Association of REALTORS® (DRAR) President Sandra O’Donohue reported 919 residential transactions in November 2016, a 15 per cent increase from the same time last year. “The balance between supply and demand for homes continues to be very tight as we inch closer to the end of 2016,” stated O’Donohue. There were 1,154 new listings in November 2016 compared to 958 in November 2015.

 

“It isn’t surprising that Durham Region continues to lead in average selling price increases throughout the Greater Toronto Area,” added O’Donohue. The average selling price in Durham reached $574,694 last month. In comparison, the average selling price was $455,603 during the same period last year; a 26 per cent increase. Homes have continued to sell quickly in an average of 13 days compared to 21 days last year.

 “Durham Region is seeing development in residential, commercial, and land, as well as the development through transportation and technology projects, all in which is stimulating new investment interest,” says O’Donohue. “Durham Region is an affordable and prospering place to live.”

 On December 1st, DRAR hosted their annual Christmas Dinner and Charity Auction in support of three local Durham Region charities: Resources for Exceptional Children and Youth, St. Vincent Pallotti’s Kitchen operated by Durham Outlook, and WindReach Farm.

“We’re proud to say our REALTOR® members raised over $14,000 this year,” said O’Donohue. The evening’s 250 attendees also donated canned/dry goods to the Salvation Army, and pyjamas for women and children at Durham’s Y’s WISH and Durham Children’s Aid Foundation. “For over 20 years, our members have been fundraising for local charities for our annual Christmas Dinner and Charity Auction. We’re incredibly proud of how our REALTOR® members give back to the community, not only during the holidays, but throughout the calendar year as well.”

 “I extend my deepest gratitude to the 2016 Board of Directors, DRAR staff, volunteers and partners for making this a memorable year,” said O’Donohue. “May good health and happiness be yours in 2017.”

http://www.durhamrealestate.org/blogEntry.cfm?b=12722