September Sales Report for Durham Region, Toronto Real Estate

The Toronto Real Estate Board has released sales statistics for resale residential real estate for September, 2013. The overall market is still very strong, up 30% over September, 2012 with 7,411 transactions, showing a market that has showed continued growth in the face of increasing interest rates, and continues to drive sales and prices higher - with Durham Region staying on its path of leading the price gains for the entire region. Inventory levels have remained steady with 2.7 months of inventory on hand.  This means that a current sales levels, all of the property would be bought up in the GTA in 2.7 months (if no new listings were added).  Many areas within the GTA have similar figures, but Durham Region has some marked differences.  Overall, there is only 1.9 months inventory in the region.  In Oshawa, Whitby and Ajax, there are just 1.5 months inventory.  For many home types and price ranges, properties are being snapped up at a rapid pace.  The average listing in Whitby spends just 17 days on the market, and 21 days in Oshawa.  The TREB average is 27 days, and 26 days in York Region.  In north Durham (Scugog/Uxbridge), the inventory figure is over 4 months, with a higher days on market average, as well. The entire board saw an average price gain of 6.5% to $533,797.  New listings this September were once again higher than sales, adding more inventory in to the marketplace. Durham region demonstrated a year-over-year composite (for all property types) price increase of 5.96%, compared to 3.44% in the City of Toronto and 4.00% for the entire board. Highlights from this month include a single-family attached price gain of 8.86% in Clarington, and a 7.43% increase in Oshawa, as well as a composite gain of only 2.84% in Whitby - continuing to lag behind its peers. [ultimatetables 12/]   If you are interested in seeing values for an area not shown, or are interested in average prices, please comment below or send me an email - john@johnsells.ca As always, give me a call anytime if you would to discuss further without any obligation.