DURHAM REGION HOMES STILL HOLDING THEIR OWN

I am happy to say Durham Region prices are holding their own.  Even doing better than some Toronto areas.  Our prices are still up 4% from the same time last year.... and a lot of other regions can't say that.   We have a lot of listings and our sales are down but not our prices year over year.   Yes we are not seeing the prices of Feb and March 2017 but those days are gone now.   Interest rates are start to increase slowly so anyone in variable rate mortgages might want to speak to the Broker about locking in.  I have a feeling we may see another one or two before the year is out.   I will keep you posted when the new rules come out this month and when they will take effect.  Until then, enjoy this wonderful October weather and call me if you have any real estate needs.  Cheers !

APRIL 2017 - AVERAGE SELLING PRICE IN DURHAM REGION

Pickering Detached Homes hit over $1M  - check out the latest selling prices.   More listings coming out daily, market is more balanced, Buyers now is the time to get out there.. the market in May seems to be shifting.  Less multiples.  Is now the time to buy?  Oshawa was actually ranked 2nd in Money Sense magazine as one of the best places to buy real estate !  Contact me if you have any questions about the real estate market, I would love to hear from you.

December 2016 - Average Selling Prices

Great info about the Durham selling prices.  No end in sight .. Look out 2017.  

It's a definite Sellers Market !  

JUNE MARKET - Still a Sellers Market

Check out the average selling price for a home in Durham Region.  Month to month we see steady increases.   Multiple offers still the norm and now with the Feds saying they are going to increase downpayments from 5% to 10% hoping to slow it down - I don't think that will work.   Many foreign investors are buying with more than 10% down regardless.  Who all this is hurting, is the young first time buyer who can't afford these prices.   How on earth are our children going to buy homes especially with the prices escalating at such a fast pace !

The government wants to slow it down but have had no problem in Toronto collection the double land transfer taxes on all these crazy priced homes as well as they haven't changed the allowable amount for first time home buyers to pull from their RRSP's, nor have they increased the tax credit allowable to the first time buyer !   Hmmmmm.

Here is the latest Durham Region Stats for June

So it would appear that Whitby has surpassed Ajax in pricing... which is interesting... but overall Durham is the the best bang for your buck in housing.   Some say we have been undervalued for years and this is just catch up, others say that it is the 407ETR extension that made Durham a more viable option to move to.

Whatever the reason,  Durham Region is on the move !  Thinking of moving, make sure you use a Professional who knows the marketplace.  

Happy House Hunting !