Durham Region Real Estate Is A Good Investment with 24% Increase in Prices

Durham Region Association of REALTORS® (DRAR) President Tina Sorichetti reported 956 residential transactions in September 2019. This result represents significant year-over-year sales growth of 24 per cent compared to the 773 residential transactions reported in September 2018.

Durham Region saw a slight increase of new listings in September 2019 in comparison to the same time last year. Durham reported 1,842 new listings in September 2019 and in September 2018, Durham reported 1,823. The number of new listings increased on a month-over-month basis from 1,542 in August 2019.

“Durham Region reported favourable activity during the summer market. It is positive news to see Durham’s, continued and consistent, year-over-year sales growth as we enter into the fall market.” stated DRAR President Tina Sorichetti.

The average selling price in Durham Region for the month of September reached $611, 569. This average represents a slight increase from the average of $587,009 in September 2018.  The President further offered “It is important to note that the months of inventory (MOI) in Durham Region for the month of September was 2.0 and DOM decreased this month to 25 days.”

“Housing affordability and the issue of supply continue to remain top of mind for many Canadians. Homeownership should be attainable for all ages and not just a dream. I ask you, remember to cast your vote on election day, October 21st  – your vote does matter”

Source: http://durhamrealestate.org/blogEntry.cfm?b=19703