It’s that time once again - your monthly market update as of February 2018!
Durham Region listings are up 23% from this time last year. Sales are down 27% and sale prices are also down 11% compared to February 2017.
The average selling price in Durham Region reached $591,404 in February 2018.
According to Durham Region Association of Realtors President Dennis Roberts, this indicates that Durham Region continues to experience a strong, balanced market.
What does this mean for your specific area?
Here’s a breakdown of Durham Region:
Pickering has seen an 9% decrease in average selling price. Listings are up 54% and sales are down 10%.
Ajax has seen a 21% increase in the number of listings, but an 18% decrease in the number of sales. The average selling price is 8% lower than this time last year.
Whitby saw a 7% increase in the number of listings as compared to last year, but a 43% decrease in the number of sales. The average selling price decreased by 10%.
Clarington had an 18% increase in the number of listings. There was a 23% decrease in the number of sales, and the average selling price decreased by 5%.
Oshawa experienced a 22% increase in the number of listings, and a 27% decrease in the number of sales. The average selling price decreased by 16%.
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.