MONTHLY MARKET REPORT
Durham was by far the hottest market in the GTA, with the average property selling at 129% of list price. Dufferin was next, with that figure well behind at 121%, and the average for all of the GTA was 116%.
Intense competition from buyers on listings is evident in the high number of offers on many listings. As a result, prices are continuing to see upward pressure.
February 2022 Durham Region Real Estate Market Report
Scarce inventory combined with low interest rates and strong demand for homes in Durham Region was once again evident in the results, with sale prices rising to all-time highs.
Prices in Durham rose by 37.2% since February 2021 and increased 4.6% since January 2022.
The latest market statistics show the average Durham property selling at $1,228,990 - up versus last month's 1,175,010 by 53,980 (+4.6%).
Active listings in Durham Region were 605 at the time this report was compiled. That is a 18.7% decrease from last year and a 84.7% increase from January.
There were 0.5 months of inventory at the end of February (trend figure, per TRREB), once again increasing buyer competition at properties at virtually all price points. The figure for all of TRREB was 0.9, and 1.1 for Toronto.
The time a property takes to sell is called DOM or days on market. It was 8 in February.
A key indicator of demand is sale price compared to list price. It was 129% in Durham in February, again showing extremely 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 116%.
These factors combined are still very strong 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.
Durham Region Prices by Home Type
Durham Real Estate Market Statistics by City
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.
Broker, REALTOR®, RE/MAX Impact Realty
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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