Durham Region Realty Blog

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John Owen, Broker | 905-434-0067

Durham Region Real Estate Market Report

Durham Region Real Estate Prices 2019


Durham's real estate market activity showed increases in both price and volume in October. The monthly changes were minor, though the annual changes were substantial.


Given the larger jumps in sales volume in Toronto and the GTA, it's somewhat surprising that Durham's increases weren't larger. We may see November's figures come in to catch up.


Price



Prices in Durham rose by 4.2% since October 2018 and 0.3% since September 2019. The Toronto Real Estate Board's (TREB) overall market posted a 5.5% annual increase (+1.1% monthly). 


Average prices for all of TREB were 852,142 as shown in the above chart (red line). With the increase this month, the overall market set a new price benchmark for the year, eclipsing the spring high.


Durham Region (blue line) prices showed a yearly increase, though with much less volatility than the TREB numbers showed in the seasonal trends. Durham showed very little reduction in price over the summer, and we are still close to highs for the year.


The latest market statistics show the average Durham property at $613,606  - up from last month's 611,569 by $2,037 (+0.3%).


Search Durham Listings with sold prices


Inventory


Active listings in Durham Region were 1803 in October. That is a 13.4% decrease from last year and a 6.9% decrease from September. The drop ins active listings represents a tightening of the market. Currently, there are only 2.1 months of inventory, increasing buyer competition and could help to drive prices higher at a moderate pace.


The overall TREB market had an 9.1% decrease in active listings from September.


Demand


Durham Region Real Estate Sales Volume


Sales volume in Durham Region increased 19.8% from last year with 968 units sold versus 798 last October (TREB +4.4%). It was up from September by 1.3%. (TREB +8.5%).


The time a property takes to sell is called DOM or days on market. It was 22 in October, showing a strong pace to sales. This figure tends to increase after the spring market before dropping again in the fall.


Another indicator of demand is sale price compared to list price. It was 99% in Durham in October, again showing high levels of buyer demand.


These factors combined are a good barometer for sellers, as it shows that not only is current inventory moving at a good pace, but it is also selling at a price that is very close to asking.



Prices By Home Style


GTA Detached Home Prices

Durham Region Townhouse Prices

GTA Condo Prices 2019


What are homes selling for in Durham Region Cities?


Oshawa Real Estate Market Report


Oshawa showed a jump in sales volume from September (+4.1%), along with a slight dip in selling price(-0.9%). Sales volume was up from 2018 (+14.7% annual change). Prices were up (+1.3%) year-over-year. 

Whitby Real Estate Market Report


Whitby's sales volume jumped from September (+14.8%) and was up from last year (+13.3%). Prices were also up (+3.0%) from September and (+2.7%) annually. 



Clarington Real Estate Market Report


Clarington's sales volume dropped (-6.3%) monthly (though was on a tear recently), and was up sharply (+31.5%) annually. Prices were down slightly (-0.4%) monthly but up annually (+3.5%). 




Ajax Real Estate Market Report


In Ajax, volume was up (+27.4%) annually and down (-6.3%) monthly. Prices increased (+9.4%) annually in Ajax and also (+1.5%) monthly. 


Pickering Real Estate Market Report


Pickering jumped in volume monthly (+8.9%) and was up substantially (+24.0%) year-over-year. It had increases in price (+3.0%) annually and a drop (-4.9%) monthly. 


If you are interested in seeing values for an area not shown or are interested in other figures, please comment below or send me an email - John@JohnOwen.Realtor   As always, give me a call anytime if you would like to discuss further without any obligation.        



Older Reports

September 2019

August 2019

July 2019

June 2019

May 2019

April 2019

March 2019

February 2019

January 2019

December 2018

November 2018

October 2018

September 2018

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June 2018

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April 2018

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January 2018

November 2017

October 2017

September 2017

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April 2017 

March 2017

February 2017

January 2017

December 2016

November 2016

October 2016

September 2016

August 2016

July 2016

June 2016

May 2016

April 2016


Member, Canadian Real Estate Association (CREA), Ontario Real Estate Association (OREA), Toronto Real Estate Board (TREB).

      

Comments:
Steve on Aug 12, 2019 12:23 PM posted:
So with the GM plant closure imminent and our bubble edging towards correction, Oshawa will surely decline much further in value in the coming years. Could this be a true statement?
John Owen on Aug 12, 2019 6:48 PM posted:
Hi Steve - news of the GM situation is from 2018, and has had very little impact on the local real estate market. Since the spring/summer of 2017, when the government imposed a number of measures to cool the market (along with changes to mortgage qualification rules that has prevented many families from being able to qualify to buy a home), the local market has been doing quite well. Given the relative shortage of supply in the GTA, combined with having some of the lowest prices in the region, the outlook for Oshawa's market is quite bright. Other factors helping bring demand to the local market include a high demand for student accommodation, expansion of the 407 and 412/418, and planned expansion of GO train service with more stations in both Oshawa and Clarington. Of course, no one can say what the market is going to do with certainty, but aside from economic factors that would trigger a wider slowdown (like a large interest rate increase, or recession), things look very good for Oshawa. John Owen, Broker RE/MAX Impact

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