The Durham Region real estate market carried momentum from March's strong performance forward into April, with another impressive showing. Sales volume was up sharply, while average selling prices were up slightly over March (with the exception of detached homes, which dropped by 1.4%).
The GTA overall is leaning back towards a seller's market, with some areas posting an average selling price at over 100% of list. Durham wasn't far behind, at 99%.
Prices in Durham Region increased 0.4% from April 2018 and increased 1.2% since March 2019. The overall TREB market posted a 1.9% annual increase (+4.0% monthly).
Average prices for all of TREB were 820,148 as shown in the above chart (red line). The seasonal winter and summer dips are clearly visible in the TREB price line (though the spring jump hit earlier than normal).
Durham Region (blue line) prices increased to show a yearly increase, though with much less volatility than the TREB numbers showed in the seasonal trends.
The Toronto Real Estate Board's (TREB) latest market statistics show the average Durham property at $612,195 - up from last month's 604,796 by $7,399 (1.2%).
Active listings in Durham Region were 2005 in April. That is a 15.6% increase from last year and a 28.1% increase from March. This increase in active listings is helping to moderate price changes somewhat.
The overall TREB market had a 25.8% increase in active listings from March.
Sales volume in Durham Region increased 15.6% from last year with 1075 units sold versus 930 last April. It was up from March by a substantial 28.1%, showing continued momentum to the spring market.
The time a property takes to sell is called DOM or days on market. It was 20 in April, showing an excellent pace to sales.
Another indicator of demand is sale price compared to list price. It was 99% in Durham in April, again showing high levels of buyer demand.
These factors combined are a good barometer for sellers, as it shows that not only is current inventory moving at a good pace, but it is also selling at a price that is very close to asking.
Prices By Home Style
What are homes selling for in Durham Region Cities?
Oshawa showed a good increase in sales volume over March (+13.8%) (+14.3% annual change). Prices were up since Mar (+1.9%) and down (-4.4%) year-over-year.
Whitby had a jump in sales volume from March (+30.3%) and was also up from last year (+14.8). This is encouraging, as Whitby was in a volume slump up to December. Prices were up (+0.6%) from 2018 and (+1.2%) monthly.
Clarington's market continues to surge. Sales volume was up (+24.8%) monthly and (+2.7%) annually. Prices were up (+6.2%) annually and were also up (+4.7%) monthly.
In Ajax, volume was up (+24.7%) annually and jumped (+42.7%) monthly. Prices dipped (-1.1%) annually in Ajax and were also off (-0.9%) monthly.
Pickering was way up in volume monthly (+31.5) and was also up (+13.6%) year-over-year. It had a decrease in price (-0.2%) annually and also decreased (-1.9%) monthly.
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.
Member, Canadian Real Estate Association (CREA), Ontario Real Estate Association (OREA), Toronto Real Estate Board (TREB).
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