DURHAM REGION May 19, 2010 – The Durham Region Association of REALTORS® (DRAR) reported 525 sales in the first half of May 2010, an increase of 13% from the 464 sales reported mid-month in May ’09. Year-to-date sales are up 45% to 4,081 compared to 2,815 sales during the same term in 2009.
“As was forecasted, the average selling price for single family homes has begun a modest descent as the market begins to stabilize.” Dierdre Mullen, President of the Durham Region Association of REALTORS® noted. “Although May 2010’s mid-month average selling price of $297,087 is 7% higher that the same period in 2009, it has actually dropped from the reported $304,436 of just two weeks ago. I expect to see this pattern continue, making for a very stable and balanced resale housing market in Durham for the remainder of 2010.”
