Durham Region is hoping that an increase
Durham Region Association of REALTORS® (DRAR) President Tina Sorichetti reported 508 residential transactions in January 2019, a 13.90
The number of new listings increased significantly from this time last month. January saw 1,181 new listings in comparison to 543 for the month of December. This is also a 23.79 per cent increase from the number of new listings in January 2018. Residential transactions not only increased month-over-month but also on a year-over-year basis. The number of home sales in January 2019 increased 8.09 per cent from January 2018.
“An increase in January transactions on a year-over-year basis is a positive sign for the year to come. The past year was a year of change and adjustments to market conditions and mortgage standards, it is forecast 2019 will be a steadier year supported by gradual home sale increases,” stated the DRAR President.
The average selling price in Durham Region for January was $577,935. This represents a slight decrease from the previous month at $587,200. The average days on market for January reached 32, down slightly from the same time last month.
The Ontario government officially launched a review of