Durham Region Real Estate Blog - John Owen

Durham Region Real Estate Sales Report - April 2022

MONTHLY MARKET REPORT



Durham Region Real Estate Prices 2022



The real estate market in Durham Region continued to recede in the month of April, with prices and sales volume lower and active listings continuing to climb. Much of the shift can be attributed to the recent increases in interest rates, and buyers having more inventory to choose from.

Free home evaluation Durham Region

Even with the drop in sale prices and volume, Durham was by far the hottest market in the GTA, with the average property selling at 114% of list price. Toronto was next, with that figure well behind at 108%, and the average for all of the GTA was 107%.


Durham Region Detached Home Prices 2022


The above chart shows how home prices in Durham compare to other regions in the GTA. This is one of the major reasons that the Durham market continues to have stronger performance than the rest of the GTA.


April 2022 Durham Region Real Estate Market Report

An increase in active listings of homes in Durham Region helped to temper demand, with sale prices coming down substantially from last month. They are down approximately 12.5% from February's peak.


Price


Prices in Durham rose by 19.8% since April 2021 and fell 6.4% since March 2022. 


The latest market statistics show the average Durham property selling at $1,075,332  - down versus last month's 1,148,685 by 73,353 (-6.4%).


Inventory


Active listings in Durham Region were 1278 at the time this report was compiled. That is a 44.9% increase from last year and a 30.7% increase from March.


There were 0.6 months of inventory at the end of April (trend figure, per TRREB), although the true number is closer to 1.2 months. This sharp increase in inventory helps to explain the reduction in selling prices. The figure for all of TRREB was 0.9, and 1.2 for Toronto.


Volume


Sales volume in Durham Region decreased 38.5% from last year with 1089 units sold versus 1771 last April. It fell 21.7% from March (1390).Search Durham Region homes for sale


The time a property takes to sell is called DOM or days on market. It was 8 in April.


A key indicator of demand is sale price compared to list price. It was 114% in Durham in March, again showing strong levels of buyer demand, as the typical property sold for well over list price. This figure was sharply higher than the GTA, which averaged 107%.


These factors combined are still powerful metrics for sellers, as it shows that not only is current inventory moving at a rapid pace, but it is also selling at a price that is well over list. What is apparent is that listings that are not well prepared, presented and marketed are having difficulty selling.


Durham Region Prices by Home Type

Durham Region Detached Home Prices 2022


Durham Region Townhouse Prices 2022

 

Durham Region Condo Prices 2022


Durham Real Estate Market Statistics by City

Clarington Real Estate Market Report 2022


Oshawa Real Estate Market Report 2022


Whitby Real Estate Market Report 2022


Ajax Real Estate Market Report 2022


Pickering Real Estate Market Report 2022


Scugog Real Estate Market Report 2022


Uxbridge Real Estate Market Report 2022


If you are interested in seeing values for an area not shown or are interested in other figures, please comment below or contact me.   As always, give me a call anytime if you would like to discuss further without any obligation.


 

John Owen

Broker, REALTOR®, RE/MAX Impact Realty

905-434-0067


Statistics are compiled from TRREB MLS® system, and may change as more sales are reported, errors corrected and deals that do not close are removed.



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Older Reports

March 2022

February 2022

January 2022

December 2021

November 2021

October 2021

September 2021

August 2021

July 2021

June 2021

May 2021


Other Regions


Northumberland Region Real Estate Market Report

Peterborough Region Real Estate Market Report




More are in the archive. 


Member, Canadian Real Estate Association (CREA), Ontario Real Estate Association (OREA), Toronto Regional Real Estate Board (TRREB).


      

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