RECORD SETTING REAL ESTATE YEAR FOR DURHAM REGION

Durham Region (Whitby, Oshawa, Uxbridge, Courtice, Brooklin, Ajax, Pickering, Bowmanville, and all of Durham Region) set a record for number of sales in 2015.   Purchasers have developed an appreciation for the substantial real estate values found in Durham Region.

With the the help of the expansion of the hwy 407, 401, Go Transit Routes, new subdivisions, development of new business opportunities, and other factors buyers will continue to find Durham Region very attractive to purchase.

Durham Region reported a record number of sales in 2015.  There were 11,848 residential transactions in 2015, 9.3 per cent higher than the number of sales in 2014. December was a very strong month with 548 sales. The number of new listings was only up 3 per cent in 2015 compared to 2014.  The high number of sales compared to a lower number of listings created a substantial amount demand within the market.  

In addition to rising sales, Durham experienced a strong increase in price growth. The average selling price for Durham Region in 2015 was $442,082. This represents a 12.9 per cent increase from $391,692 in 2014. The average selling price for the month of December 2015 was $451,671.

This year, we have seen a steady increase in price and sales growth. Competition between buyers and low interest rates have resulted in upward pressure on sale prices. This is evidence that the demand for home ownership in Durham Region has remained strong throughout 2015.  

We feel that 2016 will continue to push sales even higher with continued strong demand in this ever growing real estate market.

If you are looking to buy or sell real estate in Durham Region (Whitby, Oshawa, Uxbridge, Courtice, Brooklin, Ajax, Bowmanville, or anywhere in Durham Region) contact James or Patrick Bryant today.  SoldbyBryant.com can be used to continue keep you updated on the Durham Region Real Estate Market.