February 2019 - Real Estate Market Snapshot Durham Region

By: Jason and Andre Ferris

February 2019 - Real Estate Market Snapshot Durham Region

Tags: Average Home Selling Price, Durham Region Market Update, Real Estate

As the first housing stats roll in for 2019, there is some feelings of optimism. In the Durham Region, sales of homes increased 13.9% in January 2019 from the month before. This is a very positive sign and is encouraging to both buyers and sellers, as the number of new listings also saw a significant increase of 23.8% during this same time period. The average sales price in January 2019 was $577,935, a very slight decrease from the previous month of $587,200.
This increase in the number of sales was not just a month over month increase either (December to January). The increase extends to a full calendar year, seeing the number of sales increase 8% from January of 2018 to January 2019, creating optimism in the market for Durham. Hopefully with mortgage and market adjustments now in full swing, a steadier, more robust housing market can emerge.