Durham Region Real Estate Blog

The Durham Region Association of REALTORS® (DRAR) reported 378 transactions in the first half of April, down 17% from the 458 reported mid-month of April ‘08’.  Sales of single family homes in the Region rose to 694 in March ‘09’ up from the 507 reported in February ‘09’. Despite the economy, if transactions continue to grow at the same rate through to the end of April we will see the upward trend of sales continue in ‘09’ and well into the spring market. 

The real interesting news is that even through we continue to hear of the doom and gloom in the news, the average selling price is actually up 1% ($273,480) from the $270,795 reported mid April ‘08’.

Based on these numbers, we are not projecting a drop in the average selling price of a single family home this spring; which is good news for sellers. Favourable interest rates have gotten buyers off the sidelines and into the market, making April a positive month for both buyers and sellers alike.