Last updated: August 21, 2022
If you have noticed more homes for sale recently in the Durham Region real estate market, you aren't alone.
Prices have dropped about 25% from their high point across the region back in February, and competition among buyers isn't as intense as it was at that time.
There are, however, a number of hotspots that are still showing strong numbers, and we will explore them in this article. The numbers are for the past 90 days, across all residential property types. A minimum of 5 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. The average for all of Durham was 2.4% above list price during this period.
Top 10 Hot Communities in Durham Region
10. Oshawa - Lakeview
With an average selling price of $689K, an average days on market of 15.1 days and sale prices running at 4.9% above list, it remains a strong contender for modestly priced Oshawa home sales.
9. Whitby - Taunton North
Next on our list is Taunton North in Whitby. Selling prices here averaged 1.014M, with 10.4 days on market and sale prices at 105.0% of list.
8. Whitby - Lynde Creek
Homes in Whitby's Lynde Creek area sold on average for 970K, with 9.1 days on the market and sale prices at 105.1% of list.
7. Whitby - Williamsburg
Williamsburg in northwest Whitby is a popular neighbourhood due to it's prime location and proximity to amenities and major highways. Homes here have been selling at 1.068M, with 7.9 days on the market and sale prices at 105.2% compared to list.
6. Oshawa - Centennial
An north-central area with modest pricing compared to nearby communities, Centennial is a great destination. With the average home selling for 728K, 13.1 days on market and sale prices at 105.5% versus list price, it has plenty of buyer appeal.
5. Oshawa - O'Neill
Starting off the top 5 is O'Neill in north-central Oshawa. This is another community with great location and plenty of amenities. Prices here averaged 679K. Homes were on the market for 11.5 days and sold for 106.4% of list price, on average.
4. Pickering - Dunbarton
Pickering's Dunbarton is a popular choise, with lots of detached homes and close proximity to the 401. Prices averaged 1.582M, with just 6.0 days on market and sale prices at 106.4% of list.
3. Oshawa - Donevan
Our top 3 begins with Donevan, in east 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 774K, with 12.9 days on market and sale prices averaging 107.7% of list price.
2. Oshawa - Vanier
Another Oshawa community takes spot number 2 on our list. Vanier is in west central Oshawa north of the 401. Sale prices averaged 687K, with 12.9 days on the market and sale prices at 108.4% of list.
1. Pickering - Rouge Park
Number one on our list is Rouge Park, which is in northwest Pickering bordering the Rouge National Urban Park and Scarborough. This a great area with plenty of reasons for its popularity. Prices averaged 1.125 million with 7,2 days on the market and sale prices at 109.5% 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