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House prices on the rise

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The average price for a resale home in the region is at $444,920, up 13.2 per cent from $393,088 for October 2014.

The same amount of houses are being sold in Durham Region as last year, but they’re going for more money.

According to a news release from the Durham Region Association of Realtors, there were 989 residential transactions and 1,273 new listings for October, putting it on track with numbers seen in October 2014.

However, the amount those homes are selling for is on the rise, with the average price for a resale home in the region at $444,920, up 13.2 per cent from $393,088 for October 2014.

“Throughout 2015, prices have reached an all-time high,” states Sandra O’Donohue, the association’s president, in the news release. “When we add up the amount of money spent on all resale transactions over the year, we have seen almost $1 billion more in sales compared to last year.”

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