Durham Region Association of REALTORS® News

DURHAM REGION, June 3, 2011 – Durham REALTORS® reported 1,040 sales for the month of May, an increase of 9.6% over last month and represents a small increase of 1.3% over May 2010.

The average selling price in Durham Region for May was $316,057 down slightly from last month when we saw an average selling price of $321,042. However, when looking at the historical data, the average selling price of houses in the Durham Region has been steadily increasing over the last 5 years. This month’s average represents an 8.6% increase over the 5 year average.

“Durham Region is becoming more desirable to consumers because it offers affordable family living,” said President of the Durham Region Association of REALTORS®, Dierdre Mullen.

Compared to April the number of active listings is up by 6.3% to 2,162 homes for sale; however this is still a 16.8% reduction in the resale inventory over this time last year which offered 2,600 available listings.

“The spring market is starting to bloom. Houses are on the market for an average of 29 days and are selling for an average of 98% of list price. We expect to see a proportionate increase in the number of available listings and sales through the early summer,” said President Mullen.

Durham REALTORS®, We Work Where You Live.  To contact a local Durham Association REALTOR® for more specific and local housing statistics or search for a weekend open house or listings in your neighbourhood, please visit www.DurhamRealEstate.org.

DURHAM REGION, June 2, 2011 – The dream of home ownership in the province of Ontario is alive and well. A recent poll conducted by market research firm Ipsos Reid found that 70 per cent of provincial renters have plans to buy a home. They know that investing in home ownership makes sense for their financial future and their families.

The same poll, unfortunately, revealed that an alarming 86 per cent of Ontarians believe that home ownership will be more difficult to attain for future generations. Moreover, 81 per cent report that owning a home now is more difficult than it was in their parent’s generation.

As REALTORS®, we know from firsthand experience how important home ownership is to the people we work for, the communities we live in and the province we call home. That’s why we’re urging all local candidates running in the October 6, 2011 Ontario Election to commit to strengthening the affordability of home ownership. 

But what can the provincial government do to support home ownership in Ontario?

REALTORS® are recommending three initiatives. First, make it more affordable for first time home buyers to buy a home. REALTORS® propose that the provincial government improve the Land Transfer Tax rebate for first-time home buyers so that it effectively exempts them from paying any tax on their first home purchase.

Second, make home repairs and maintenance more affordable. REALTORS® propose that the provincial government introduce a permanent Ontario Home Renovation Tax Rebate. A home renovation rebate would create jobs and give home owners an added incentive to use a professional contractor who pays taxes and maintains liability insurance.

Third, help home owners cope with rising energy costs. REALTORS® propose that the provincial government reintroduce the Ontario Home Energy Efficiency Retrofit program which provided home owners with rebates against the cost of energy efficient upgrades and renovations.

Together these policies will make buying, maintaining and owning a home more affordable. When you consider how much home ownership matters they make good sense.

Dierdre Mullen, President

Durham Region Association of REALTORS®

Durham REALTORS® We Work Where You Live.  To contact a local Durham Association REALTOR® for more specific and local housing statistics or search for a weekend open house or listings in your neighbourhood, please visit www.DurhamRealEstate.org.