June 2021 Durham Real Estate Market

By: Jacob Asparian

June 2021 Durham Real Estate Market

Tags: REAL ESTATE, KELLER WILLIAMS, DURHAM REGION, REAL ESTATE ADVICE, HOUSE, OSHAWA, WHITBY, BOWMANVILLE, ASPARIANANDCO, SOLDBYJACOB, REALTOR

 

 

Hi everyone, welcome back to our monthly market update! My name is Jacob and I’m a broker and team lead of Asparian & Co. We’re a boutique team focused on all things real estate in Durham Region. Today we’ll be reviewing the market update numbers for June 2021 but also looking at market activity levels to see if we can see where the market is heading now.

The basics! In every market, the 3 most important numbers we look at are listings, sales and average sales price.

LISTINGS
We saw a total of 1,655 new listings come to the market in Durham Region this June which was a decrease of 10.9% than the 1,857 that came to market last year at this time.

SALES
We had 1425 homes sold in Durham Region this June and that is a significant increase of over 11.2% from the 1281 that were sold at the same time in 2020.

AVERAGE SALES PRICE
So, what does this all mean for sales prices? The average sale price in Durham Region in June 2021 was  $ 917,267. This is an increase of 33.8% from the 2020 average of  $ 685,612!

Since the shutdown, I’ve had countless conversations about how to approach this market and as always, I tell them it really comes down to their needs. Don’t try and time the market! No one could have predicted a price increase like this.

-Sellers. It currently is a seller market and we have no idea when the activity will slow down. Demand from the GTA continues to be quite strong and if there is a large exodus of buyers from the GTA, we should see demand and prices trend consistently higher

-Buyers. With such low rates, we are seeing huge demand for the first-time buyer price point as it has gotten quite competitive. It’s important to hire a professional you can rely on and guide you.


It really does come down to your personal needs and motivations which is why you should speak with a professional you trust and ask questions.

We offer no obligation consultations and market evaluations that can be done virtually so please never hesitate to reach out if you need anything. If you don’t necessarily want to meet with an agent just yet, no problem! Visit the link and we will send you a free online market evaluation.

There is no cost or obligation for any of this!
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Thank you so much for reading and please never hesitate to let me know if you have any questions.

Whether you’re thinking of buying, selling, or just interested to know what’s happening in the market, my team and I are always here to help answer any questions that you may have.
 

 

 

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