DURHAM REGION May 21, 2009 – The Durham Region Association of REALTORS® (DRAR) reported 464 sales in the first half of May, down 7% from the 500 reported in May ’08.
“Last month DRAR reported April’s mid-month sales were down 17% from the same time in ’08,” said Debbie Dawson, DRAR President. “Because of the ‘doom-and-gloom’ talk in today’s market, it was harder to foresee what the spring market would hold. But May’s spike in sales from that of April’s displays signs of optimism for the coming months; despite the harder economic times.”
The average selling price is down 1% ($277,857) from the $281,434 reported in ’08.
“We have not projected a considerable drop in average selling prices for the Region and the numbers are still very promising at this time,” said Dawson. “We have been seeing an upward trend since the beginning of the spring market and hope the market remains as steady as it has into the summer months.”
