Last updated: May 9, 2024
If you have noticed more activity recently in the Durham Region real estate market, you aren't alone.
Prices have dropped overall about 22% from their high point across the region back in February of 2022, and competition among buyers isn't nearly as intense as it was at that time.
There has been a recent surge in buyer activity, largely driven by encouraging economic news on the interest rate and inflation fronts, and we will explore them in this article. The numbers are for the past 30 days across all residential property types. A minimum of 3 sales is the benchmark for inclusion on this list.
Neighbourhoods are ranked using sale price to list price ratio, as that figure illustrates how strong the competition among buyers is for listings.
Top 10 Hot Communities in Durham Region
10. Whitby - Rolling Acres
With an average selling price of $1.049M, an average days on market of 7.5 days and sale prices running at 7.4% above list, it remains a strong contender for Whitby home sales.
9. Ajax - Central
Next on our list is Central in Ajax. Selling prices here averaged 933K, with 9.2 days on market and sale prices at 107.7% of list.
8. Whitby - Downtown
Homes in Whitby's Downtown area sold on average for 820K, with 11.3 days on the market and sale prices at 107.7% of list.
7. Clarington - Bowmanville
Bowmanville in Clarington is a popular neighbourhood due to it's prime location and proximity to amenities and major highways. Homes here have been selling at 841K, with 11.4 days on the market and sale prices at 107.9% compared to list.
6. Oshawa - Eastdale
A vibrant community with modest pricing, Oshawa’s Eastdale is a great destination. With the average home selling for 826K, 12.4 days on market and sale prices at 108.1% versus list price, it has plenty of buyer appeal.
5. Pickering - Liverpool
Starting off the top 5 is Liverppol in central Pickering. This is another community with great location and plenty of amenities. Prices here averaged 1.046M. Homes were on the market for just 6.2 days and sold for 109.6% of list price, on average.
4. Oshawa - O’Neill
Oshawa's O’Neill is a popular choise, with lots of detached homes and close proximity to amenities. Prices averaged 700K, with 16.0 days on market and sale prices at 109.6% of list.
3. Oshawa - Vanier
Our top 3 begins with Vanier, in central Oshawa. Well established neighborhoods in this area are largely composed of detached homes with large lots, which are in particular demand. Sale prices average 670K, with 11.3 days on market and sale prices averaging 112.2% of list price.
2. Pickering - Village East
Pickering’s Village East community takes spot number 2 on our list. It is in east central Pickering north of the 401. Sale prices averaged 883K, with 12.0 days on the market and sale prices at 112.3% of list.
1. Oshawa - McLaughlin
Number one on our list is McLaughlin, which is in west-central Oshawa bordering Whitby and Rossland road to its north. This a great area with plenty of reasons for its popularity. Prices averaged 798K with just 8.2 days on the market and sale prices at 113.3% of list.
For those looking for less heated options, check out the higher-priced or northern parts of the region. For buyers, these areas may offer less stressful options for competition on listings compared to the ones presented here.
If you are considering a sale or purchase in this market, it pays to speak with an experienced, knowledgeable professional. Please contact me to have a free consultation or home evaluation.
John Owen, Broker
RE/MAX Impact Realty, Brokerage
905-240-6777
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