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House sales up nearly 40 per cent in May

By Dave Flaherty/The Oshawa Express

While the weather has yet to consistently warm up, the same cannot be said about Durham’s housing market.

The Durham Region Association of Realtors (DRAR) reported a 37 per cent increase in residential transactions in May.

There were 1,176 sales last month, an increase from 859 during the same time in 2018.

This also represents the largest sales month in the region so far this year.

New listings also increased by 20 per cent from April, rising from 1,993 to 2,392. Year-over-year listings were up 6.45 per cent.
The average selling price in Durham during May was $622,292, a slight increase over 2018.

“After a slower start to 2019, it appears the market is experiencing a positive shift. We are now in the summer market which is typically a busier time of year for real estate and the numbers reported this month are reflecting a healthy Durham market,” said DRAR president Tina Sorichetti.

The local realtors association also highlighted the fact two Oshawa neighbourhoods, and Bowmanville, were ranked as some of the best places to purchase a home in 2019 by MoneySense, a personal finance and lifestyle magazine and website.

Overall, Durham Region was ranked the 21st best “city” to buy a home by MoneySense.

“Durham Region not only offers affordable housing options for homebuyers but exceptional quality of life. With continued economic development and more employers like Toyota Canada opening doors in Durham increasing employment, Durham Region truly is one of the best places to live,” Sorichetti said.