The Toronto Real Estate Board reported another year-over-year increase in home sales during the month of June. The number of transactions reached 8,860, up 10.4% over the same month last year. Sales volume over the first six months of 2019 are up 8.5% when compared against the first half totals of 2018.
The overall average selling price in June 2019 was $832,703 – up by three per cent compared to the average of $808,066 in June 2018. Price growth was driven by the higher density market segments, including semi-detached houses, townhouses and condominium apartments.
Within Durham Region, the local real estate board reported 1,093 residential transactions during June. Sales were up 19% when compared to the same month last year. The overall average selling price in Durham Region for the month of June was $620,506, up 2% from the average price set a year ago.
After a sluggish start during the winter months, the local real estate market has now posted two consecutive months of sales increases along with modest price appreciation. Inventory is up, so buyers can find the right house, townhouse or a condo in their price range. Sellers enjoy consistent demand, slightly higher prices and a very balanced marketplace.
It appears that the market offers all participants great opportunities. Durham Region remains a desired location for homebuyers due to its wide selection of housing types and its proximity and accessibility to Toronto.
With an improved supply of desirable houses and condos, stable prices and slightly lower mortgage rates, now is the time to make the move. Let me help you find the perfect townhouse, condo, detached house or investment property.
I’ve sold real estate in Durham Region for over 25 years, so you can be assured of experienced and sound advice in all market conditions.