Here it is, for your reading pleasure - your monthly market update as of December 2017!
Durham Region listings are up drastically from this time last year! Although this number is slightly inflated due to cancel and re-lists, the number is still significant at an increase of 73%.
The overall number of sales is up by 3% across the region and the average selling price has seen a 1% increase.
“Durham finished year end with a balanced market, which is good for both buyers and sellers,” said Durham Region Association of Realtors® President Dennis Roberts.
What does this mean for your specific area?
Here’s a breakdown of Durham Region:
Pickering has seen a 6% decrease in average selling price. Listings are up 108% and sales are up 29%.
Ajax has seen an 81% increase in the number of listings, but a 4% decrease in the number of sales. The average selling price is 11% higher than this time last year.
Whitby saw a 64% increase in the number of listings as compared to last year, but an 11% increase in the number of sales. The average selling price increased by 6%.
Clarington had a 109% increase in the number of listings. There was a 12% increase in the number of sales, and the average selling price has increased by 3%.
Oshawa experienced a 48% increase in the number of listings, and an 8% increase 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.