Home prices continue to rise
Home prices in Durham Region are on the rise once again, with an average selling price of $564,989 in October, up 27 per cent from the same time last year.
The price of a new home in Durham Region continues to go up. In fact, according to one group, prices are growing quicker than they are in Toronto.
According to a news release from the Durham Region Association of Realtors, last month saw a 10-per-cent increase over last year in residential transactions, with 1,096 reported deals. October also saw a rise from 2015 for new listings, rising to 1,327 from 1,273.
Sandra O’Donohue, the association’s president, adds that prices in Durham Region have also gone up.
“Prices are rising quicker in Durham Region than Toronto,” she states in the release. O’Donohue.
“The persistent increase is a direct reflection of Durham’s affordability and proximity.”
The average selling price for a home in Durham Region last month was $564,989, up 27 per cent from the same time last year, when the average selling price was $444,920.
The highest prices were seen in Uxbridge, with an average selling price of $900,190. Those looking for relative bargains can look at Brock, which had the lowest average selling price, sitting at $440,047.