Strong start to 2020 for housing market
January residential transactions in Durham up 15 per cent from same time in 2019
After a hot 2019, the Durham housing market has seen more of the same so far in 2020.
According to the Durham Region Association of Realtors (DRAR), residential transactions across the region in January were up 15 per cent from the same time last year.
As well, January saw 944 new listings, more than double the 428 new listings reported in December 2019.
“The average sale price in Durham Region reached $655,781 in January, a 13 per cent increase from the same time last year,” said DRAR president Vicki Sweeney. “Durham Region continues to experience strong growth and is experiencing a very steady market. Days on market increased slightly from the same time last month reaching 34 days on market in January.”
According to the Toronto Regional Real Estate Board’s 2019 review and outlook for 2020, Oshawa is among the top destinations for millennials and Gen Xers looking for affordable home ownership.
According to Sweeney, the recent opening of the Highway 407 East extension to Highway 115, and Highway 418 linking Highway 401 and the 407 has brought valuable transportation options for commuters in Durham Region.
DRAR has been advocating for the original route designed for the Lakeshore East GO Train expansion further into Oshawa and Clarington.
“Durham Region needs frequent, reliable transit to serve the growing population. Most importantly, we need to continue to advocate for the option that will best serve the region while bringing job creation, housing and mixed-use development,” said Sweeney.