Slight increases for housing market

Home sales and prices each saw positive growth in Durham Region last month.
According to the latest report from the Durham Region Association of Realtors (DRAR), sales were up 3.2 per cent from September. However, year-to-year, sales were down 5.6 per cent from 2017.

The average sale price in the region was $588,968, up from $587,009 in September, and an increase of 2.3 per cent over the same month in 2017.

“Monthly sales growth has been positive in Durham Region since the spring. We anticipated it would take time to adjust to the mortgage changes and higher borrowing costs. The Durham market has remained strong,” says Dennis Roberts, DRAR president.

Roberts points out that despite sales and prices increasing, there were about 10 per cent fewer listings than September.

“With listings down and sales up in October, we may see tighter market conditions moving forward,” he adds.

DRAR has selected Durham Young Housing and Support Services (Joanne’s House) as its charity of choice to benefit from its annual Christmas auction.

Joanne’s House offers tailored programs and support to homeless youth. The donated funds from DRAR will allow Joanne’s House to expand its services and programs to include a cooking skills workshop as well as to provide household items for the youth to use once they find suitable housing.
“Joanne’s House is unique and invaluable to the youth that they serve; and we agree that all youth should have a place to call home where they feel welcomed, accepted and valued,” says Roberts.