Sales statistics just released by the Toronto Real Estate Board are continuing to show Durham Region sales gains that outpace the GTA market. For the month of December, 2012, Durham shows a 5.65% year-over-year composite gain on average selling price, compared to only 3.53% in the City of Toronto and 4.12% for the entire board. Again, when it comes to single-family detached homes. Durham Region saw an even better gain. The region saw a 6.1% gain over December, 2011 with an average selling price of $340,300. Whitby came in at +8.25% with an average of $384,400 and Oshawa at +5.94% with an average selling price of $262,100.
The Condominium market continues to be a focus of negative media attention, but December is showing improvements. The Toronto Real Estate Board saw an overall increase in December year-over-year of 0.91%, and even the City of Toronto showed a gain of 0.75%. Durham Region, however saw an increase in condominium prices of 4.58% - a very strong number in the marketplace.
With mortgage rates showing no signs of change in the near future, and the construction beginning on the 407E link from Brock Road in Pickering east to Harmony Road in Oshawa, things continue to look very good, especially in the areas that will benefit from the 407E traffic improvements. Notably north Oshawa and Whitby, Brooklin and Scugog. If you would like to discuss how these changes impact your home search, give me a call anytime.