Sales in the Durham Region up 21.7%!
Author: Bernice McNutt // Category: Durham Region Real Estate| The resale houseing market in the Durham Region has remained remarkable steady throughout 2009′s unanticipated busy market. Although May’s 1026 sales are down 2.3% from the reported 1051 sales in May 2008, they are up a considerable 21.7% from the 843 sales reported in April, 2009. Usually we see these types of numbers early in the spring market, but this year it seems buyers took more time with their house search, utilizing home purchasing incentives and current economic factors to their advantage.
The average selling price of a home is also up 3.3% ($278,592) from April’s reported $269,596. This is only a 1.5% drop from May 2008′s reported $282,717. Last year’s housing market was full of record breaking numbers; despite market dynamics, Durham’s spring market has remained particularly strong. Without a doubt, we are facing a changing housing market and purchasers should be aware of the basic fundamentals when starting a house hunt. The old steps still remain tested and true in today’s market: 1) Save smart for a down payment, the larger the down payment the more beneficial it will be to narrow down your bottom line; 2) Don’t over spend, just because you’re approved for certain mortgage amounts doesn’t mean that you have to spend it; 3) Understand your market, the market trends and development in the area you’re interested in For more specific statistical information on your neighbourhood, just contact me! |
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Tags: bowmanville real estate, buy, courtice real estate, home buying, home selling, oshawa real estate, whitby real estate
June 4th, 2009 at 7:11 am
Hello,
Not sure that this is true:), but thanks for a post.
AnnaHopn
July 6th, 2009 at 3:02 pm
Seems like this might not be true, there’s quite a bit of new foreclosures, and i doubt that the price of houses has gone up.
From Bernice – Please have a look at the entire post and you will see that the numbers I provided are based on reported MLS statistics for the Durham Region and are true. Note that I didn’t say prices are up or that the number of sales were up year over year. I said that the number of sales were up in May, 2009 over April, 2009, 21.7%. I also stated that prices in May, 2009 were up 3.3% over April, 2009 and down 1.5% over May, 2008. This blog was just to let you know that the number of sales is increasing as we get further along in the year and there was a considerable change in the amount of buyers choosing to make a purchase in May, 2009. Hope this clears everything up for you!