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Durham Region Real Estate Sales Report - July 2018

Durham Region Real Estate Prices


Durham Region's real estate market is heading into August with mixed results in terms of pricing, though sales volume is up in most areas across the region. Buyers look to be entering the market again, which is helping to drive both volume and price growth in many areas.


Prices in Durham Region increased 2.5% over July of 2017, though they are down 4.4% since June. The monthly decline in pricing is typical for a summer pattern and shows promise with the annual increase.


Average prices for all of TREB followed a similar trend, with an annual gain combined with a monthly drop, as shown in the following chart (burgundy line), though the numbers since October are following a more typical price trend that we saw in the previous year (as prices were mostly rising regardless of season). Most of the areas in Durham Region (blue line) have also increased yearly with some dropping recently.


Durham Region Real Estate Prices 2018


The Toronto Real Estate Board's (TREB) latest market statistics show the average Durham property at $584,131 610,728  - down from last month's 610,728 by $26,597.


Sales volume jumped 6% with 794 units sold versus 749 last July.


search oshawa's latest listings


 

The average selling price of homes in the GTA this July was $782,129. This represents a 4.8% increase since July 2017. Sales volume was up 17.6%.



Inventory - Balance Brings Back Negotiating


Active listings within the board increased 5.2%, which shows a shift in market fundamentals. The jump in inventory is helping to make the market more balanced - more inventory means less bidding wars as supply rises. 


In Durham, the increase was just 1% with 2194 active listings over 2172 last year. 


The increase still isn't enough to make it a buyer's market, though. The average property in Durham sold for 98% of asking. That's on par with the entire GTA, and is partly due to Durham having the lowest average prices in the region.


The current trend shows 2.4 months of inventory. 


What are homes selling for in Durham Region Cities?

 Oshawa Real Estate Market Update


The MLS Home Price Index helps to normalize the statistics, by adjusting sales statistics to represent typical homes within MLS areas.  When using these numbers, Oshawa showed a composite annual drop of 4.17%, compared to the TREB average of -0.59%.  


Whitby Real Estate Market Report



Clarington Real Estate Market Report


Inventory levels continue at moderate levels with 2.6 months of inventory on hand across the board.  This means that a current sales levels, all of the property would be bought up in the GTA in 2.6 months (if no new listings were added). In Durham, there is 2.4 months inventory.


The average listing in Durham spent 24 days on the market. The TREB average was 25 days.


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



Older Reports

June 2018

May 2018

April 2018

March 2018

February 2018

January 2018

November 2017

October 2017

September 2017

August 2017

July 2017

June 2017

May 2017

April 2017 

March 2017

February 2017

January 2017

December 2016

November 2016

October 2016

September 2016

August 2016

July 2016

June 2016

May 2016

April 2016


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

      

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