Alright everyone, Spring is off to a good start and it looks like the pendulum is starting to swing the other way! We have been seeing an influx of new listings coming to market over the last couple of months. While it is still a seller’s market, it is a welcome relief for buyers actively looking. In my opinion, we should start to see some more stability in the market with things slowly but surely returning to normal, and let me tell you, that is not bad news!
The number of active listings in Durham Region has increased by 21% from this time last year.
Sales have increased by 11% as compared to last year, and average selling prices are also up 38% across Durham Region.
What does this mean for your specific area?
Here’s a breakdown of Durham Region:
Pickering has seen a 38% increase in average selling price. Listings are down 1% and sales are down 7%.
Ajax has seen an 19% increase in the number of listings, as well as an 11% increase in the number of sales. The average selling price is 31% higher than last year.
Whitby saw a 24% increase in the number of listings as compared to last year, and an 11% increase in the number of sales. The average selling price has also increased by 38%!
Clarington had a 24% increase in the number of listings. There was also a 14% increase in the number of sales, and the average selling price has increased by 41%!
Oshawa experienced a 39% increase in the number of listings, as well a 22% increase in the number of sales. The average selling price saw an increase at 45%, the highest in Durham.
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.