Here it is again - your monthly market update as of September 2017! Again, we are seeing the market slowly balance out as more inventory is available than earlier this year. We are however, still in a seller’s market. In September, there were 23% more new listings from the same time last year, however, the overall number of sales is down by 23%.
The average selling price has seen an increase of 4% from this time last year.
What does this mean for your specific area?
Here’s a breakdown of Durham Region:
Pickering has seen a 5% increase in average selling price. Listings are up 22%, however, sales are down 31%.
Ajax has seen a 14% increase in the number of listings, but a 25% decrease in the number of sales. The average selling price is 3% higher than this time last year.
Whitby saw a 36% increase in the number of listings as compared to last year, but a 30% decrease in the number of sales. The average selling price increased by 9%.
Clarington had a 24% increase in the number of listings. There was a 16% decrease in the number of sales, and the average selling price has increased by 10%.
Oshawa experienced a 23% increase in the number of listings, but a 17% decrease in the number of sales. The average selling price increased by 2%.
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.