Durham Region Association of REALTORS® News

DURHAM REGION – May 7, 2010 – Durham Region Association of REALTORS® reported a record 1,185 sales of single family homes in Durham Region during the month of April through the Multiple Listing Service® (MLS®), representing a 41 percent increase compared to April 2009.
Comparably, the number of available listings also continued to rise, offering a total of 2,426 resale homes for sale during April, 14 percent more than March 2010.
“The trend across all of the GTA, including Durham, is that listings continue to increase as sellers recognize the strong sales and price growth within the housing market” explained Dierdre Mullen, President of the Durham Region Association of REALTORS®. “Buyers are responding by taking advantage of the great housing selection in addition to the opportunity for ownership at affordable prices.”
The Average resale home price in April was $304,436, up 13 percent from the $269,596 reported in April 2009.
“Although home sales will remain strong, higher borrowing costs, more sustainable rates of annual price growth and more balanced market conditions in general are the forecast for the remainder of 2010.”