2017 Final Sales Number- More Inventory and Much More Affordability
The Toronto Real Estate Board (TREB) reported 92,394 sales through their s MLS® System in 2017. This total was down 18.3% compared to the record set number of transactions during 2016. The average selling price for 2017 was $822,681, up 12.7% compared to average sale price reported in 2016.
The pace of sales changed significantly after April, when the provincial government implemented some new policies, which quickly impacted sales activity. As the year progressed, the market began to stabilize. While prices are down, inventory is generally lower in most price ranges. During the last three months of 2017, sales of condominiums increased dramatically, as buyers sought value and more affordable housing.
Durham Region Inventory Grows, Prices Moderate
Within Durham Region, the year ended with an average sale price recorded at $575,064. In comparison, the average sale price of a house or condo in Durham in April was $702,768. Clearly prices have adjusted and the current marketplace offers great opportunities. Whether you are a first-time purchaser or a move up buyer, you will find a number of properties to view and reasonable prices when you submit an offer.
If you are looking for a house in Durham Region or are already a homeowner and wish to move to a new house in Pickering, Ajax, Whitby, Brooklin, Oshawa, Courtice or Bowmanville, please contact me for more information.
Having sold real estate in Whitby and the Durham Region for 28 years,I can help you with both - the buying and selling process.