How Is The Market?

Greater Toronto Area Realtors® reported 4,078 residential transactions for December 2013, up by almost 14% compared to 3,582 sales reported during December 2012. Total sales for calendar year 2013, at 87,111, were up by approximately two per cent compared to 85,496 transactions in calendar year 2012.

Within Durham Region, 400 sales were reported for the month of December. The total number of sales recorded for 2013 was 10,312, a decrease of 2.2% from the 10,549 recorded during 2012. The average price of a home in Durham Region was $360,741 in December. For all of 2013, the average price was $357,529, which represents an increase of 6.4% above the 2012 average sale price during 2012.

Within the GTA, residential resale transactions were stable but modest during the first half of 2013, but accelerated during the last half of the calendar year. The number of sales relative to the number of listings was strong, indicating a balanced market that slightly favors sellers. 

The average sales prices for 2013 within the municipalities of Durham Region:

It is also interesting to note that houses in Durham Region sold within an average of 23 days during 2013. Ajax averaged just 20 days, Whitby averaged 19 days.

Prices continue to rise at a respectful rate and offer consumer’s an appealing and dependable long term investment. The reduction in the number of sales during some months can be attributed to a reduced supply in quality neighbourhoods and desirable price ranges. The strength and overall health of the local market is demonstrated by rising average sale prices year over year.

Real Estate Sales within Whitby, Brooklin and throughout all of Durham Region are strong. Given that most houses still sell in less than one month and prices rising prices demonstrate that real estate remains a good investment. While mortgage rates have increased slightly, affordability remains intact. 

For more insight into the houses within Durham Region, the Whitby real estate market, or the Brooklin real estate market, contact me. If you are an existing homeowner and are thinking about a, move, I can tell you what your house or condo is worth in today’s marketplace.

Randy Miller
Sales Representative
Re/Max Rouge River Realty Ltd., Brokerage
905-668-1800 or 905-427-1400
randy@randymiller.ca
www.randymiller.ca