March 2016 Durham Real Estate Statistics

By: Armando Murga

March 2016 Durham Real Estate Statistics

Tags: Homes in Durham, Real Estate Statistics, Sold by Armando

Durham Region Association of REALTORS® (DRAR) reported 1,166 residential transactions in March 2016. Compared to March of 2015, we have seen a 7 per cent increase in the number of sales. To contrast, we have seen a 3 per cent decrease in the number of new listings. There were 1,474 residential homes listed in March 2016, compared to 1,527 in March 2015. The average selling price in March 2016 was $489,755 a 13.8 percent increase from March 2015. A decrease in inventory coupled with high demand produces healthy price growth, continuing our seller’s market. This price growth is intensified by competition between buyers for the limited inventory. Lower interest rates and the economic environment are causing this trend to continue. There continues to be a strong demand for home ownership in Durham Region.

For more Information Call Armando at 905.409.3793

Armando Murga     905.409.3793      Information from Durham Real Estate Board.
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