There were 819 sales of single family homes in the Durham Region in February, 2010, and this is a 54% increase over the 532 sales we saw in January, 2010. With February, 2009 sales of 507, the year over year increase of 62% was substantial.
Although slightly lower than January’s $289,195, February’s average selling price for resale home purchases was $286,635, still 9% higher than the $263,899 reported for the same period in 2009 and confirming that the Durham Region housing market is indeed a part of the Greater GTS’s economic recovery.
February also offered an increase in active listing; 1716 versus 1423 for the prior month, but still a significant decline from February of 2009. Although year-to-date total active listings available in Durham Region is down 30% from last year, and annual growth in new listings is expected to continue through 2010. With this increase in available properties will come a more stabilized rate of price growth within the housing market. It will be interesting to see what decisions buyers and sellers will make in the months to come. Stay tuned!