The numbers are in for the first half of July, 2009 , and they look good! I might even go so far as to say they look great! The Durham Region Association of REALTORS® reported 441 sales in the first half of July ’09, an increase of 11% from the 396 reported at the same time last year.
Last month there was an increase in sales and average selling prices and July’s mid-month housing report doesn’t disappoint. With sales up and average selling prices up 6% ($287,381) from the $271,890 recorded in July, 2008 the region’s housing market is still going strong.
Interest rates remain at nice, low levels, making home ownership a viable option for many first time buyers. As they enter the market and purchase the most affordable homes, they free up the “move-up” buyer to purchase a larger home and also take advantage of attractive lending rates. The Durham Region is definitely proving that this is a great place to live, where value in housing is definitely holding its own!