Here we go again - your monthly market update as of November 2017!
It looks like we’re continuing to see an increase of average selling price year over year. According to Durham Region Association of Realtors President Dennis Roberts, “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 Roberts. “Durham Region is an affordable and prospering place to live.”
In November, there were 41% more new listings from the same time last year, however, the overall number of sales is down by 4%.
The average selling price has seen a 0% increase/decrease.
What does this mean for your specific area?
Here’s a breakdown of Durham Region:
Pickering has seen a 6% increase in average selling price. Listings are up 71%, however, sales are down 7%.
Ajax has seen a 15% increase in the number of listings, but a 32% decrease in the number of sales. The average selling price is 5% higher than this time last year.
Whitby saw a 48% increase in the number of listings as compared to last year, but only a 6% increase in the number of sales. The average selling price decreased by 1%.
Clarington had a 30% increase in the number of listings. There was a 5% increase in the number of sales, and the average selling price has increased by 1%.
Oshawa experienced a 52% increase in the number of listings, but a 0% increase/decrease in the number of sales. The average selling price decreased by 1%.
It’s important to remember that there are rare pockets within each city that will have their own unique numbers that may not reflect what we have reviewed. To find out what your property is worth, it’s always a good idea to have a professional realtor give you a current market evaluation. Factors such as the property condition, upgrades, and proximity to vital services and amenities to give you an accurate value.
If you’re interested in learning what your home is worth, don’t hesitate to contact Jacob for a confidential, no-obligation market evaluation.