MONTHLY MARKET REPORT
While prices in the overall GTA market also increased in January, Durham price increases outpaced the overall market by nearly double.
Durham was by far the hottest market in the GTA, with the average property selling at 127% of list price. Dufferin was next, with that figure well behind at 114%, and the average for all of the GTA was 113%.
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.
January 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 34.1% since January 2021 and increased a massive 13.7% since December 2021.
The latest market statistics show the average Durham property selling at $1,175,010 - up versus last month's 1,033,032 by 141,978 (+13.7%).
Active listings in Durham Region were 336 at the time this report was compiled. That is a 25.5% decrease from last year and a 121.1% increase from December.
There were 0.5 months of inventory at the end of January (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 7 in January.
A key indicator of demand is sale price compared to list price. It was 127% in Durham in January, 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 109%.
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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