The Toronto Real Estate Board reported that 7,187 residential sales through TREB's MLS System during March 2019. This result was in line with 7,188 sales reported in March 2018. For the first quarter of 2019, sales were down by one per cent compared to Q1 2018. The average price achieved during March was up marginally to $788,335. The average selling price for Q1 2019 compared to the same period last year was up by 1.1%.
Durham Region Association of Realtors reported 839 residential transactions in March 2019, a 43 per cent increase from the previous month. There were 1,617 new listings in March 2019, compared to 1,140 in the previous month representing a 42 per cent increase. March 2018 saw 1,755 new listings. A better selection of available properties will help consumers find the right house and will result in more transactions during the forthcoming months.
The spring market is definitely heating up in Durham Region. The average selling price in Durham reached $604,796 last month. In comparison, the average selling price was $580,743 in February 2019. The average selling price in March 2019 represents a slight increase from the same time last year.
Durham is an ideal location for homebuyers due to its wide selection of housing types and its proximity to downtown Toronto. Durham was named one of the Top 25 Places to Buy Real Estate in Canada in 2018 by MoneySense magazine.
I’ve sold real estate in Durham Region for over 25 years, so you can be assured of experienced and sound advice for all market conditions.