July house sales in Durham Region were up from the previous year, but down from the previous month.
The Durham Region Association of Realtors (DRAR) reports there were 794 residential transactions last month, which is a six per cent increase from the same month in 2017.
However, it represents a 13.5 per cent drop from June.
“As we edge closer to the end of the summer, we may experience a return to a traditionally quieter summer market,” Dennis Roberts, DRAR president says.
The number of listings in the region decreased month-to-month from 1,895 in June to 1,675 in July.
The average selling price in Durham was $584,131 in July, a 4.35 per cent decrease from the mark of $610,728 in June. However, it is a 2.52 per cent increase over the average selling price during the same period in 2017.
Oshawa continues to be the most affordable option in Durham, with an average selling price of $485,508 in July, almost $50,000 cheaper than the Township of Brock.
“Durham continues to offer the best housing options for buyers and still offers some of the most desirable real estate value in the GTA,” Roberts says. “Market trends indicate that we will be anticipating an increase in activity again in the fall.”
DRAR also announced that the second annual land planning information session will be held at Realtor Connect, Durham Region’s largest real estate trade show. In its fifth year, DRAR is hosting Connect on Wednesday, Sept. 19 at Deer Creek Golf & Banquet Facility.
“Realtor Connect is a great day for realtors to network with other professionals in the industry. The event is free for realtors and open for the public to attend,” Roberts says. “The annual land planning session is the perfect opportunity to find out the details of ongoing and future planning for Clarington, Oshawa, Whitby, Scugog and the Region of Durham from local experts.”