Durham Region Home Sales Up in May

DURHAM REGION – Home sales is up strongly in May compared to a year ago. “Last year there were 1,179 resale homes sold in the Durham Region. This year, we have seen an increase of 13 per cent to 1,334 sales.”
The average selling price for a home in Durham Region was $390,679, up 9.3 per cent from $357,386 in May 2013. “Across the Region, we saw average selling prices range from $270,888 in Brock, $303,756 in Oshawa, $342,376 in Clarington, $425,503 in Ajax, $426,579 in Whitby, $433,094 in Scugog, $486,768 in Pickering and $565,710 in Uxbridge”. “The spring market is when we usually see the highest average selling prices, however, selling prices have remained steady since January, so I think we will see this trend continue into the second half of the year”.
Inventory was up 9.5 per cent compared to April 2014 with 1,872 new listings entering the market in the month of May. “With the increase in inventory, more choices were available to buyers. That, combined with low borrowing costs, has prompted a strong housing market in the Durham Region”.
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