MLS Real Estate Statistics for Durham Region
(including Whitby, Brooklin and Oshawa)
Are you a home owner thinking of Selling your Durham Region property and wondering about the current market and when you should put that "For Sale" sign up?
Perhaps you are planning on Buying and investing in your own home and would like to be aware of the current market in Whitby, Brooklin, Oshawa or other areas in the Region of Durham, Ontario?
Whether you are thinking of Selling, Buying or simply interested in keeping up to date on the Durham Region housing market, the following data may be beneficial to you.
When looking at the overall Durham Regional Real Estate market, we see that in July there were over two thousand fewer homes on the market to choose from over last year during the same month.
A good indicator of which way the housing market is leaning is to compare home sales to newly listed homes, called the "sales to new listings" ratio. A ratio over 60 percent indicates a sellers market. The July sales to new listing ratio was 68.2%. Of course, just looking at the fact that we continue to have less inventory than last year, suggests a sellers market.
When homeowners work with their Realtor to offer a thoughfully priced and well presented home for sale in a market such as this, it often leads to a flurry of activity from those looking to buy and may even result in multiple offers.
Potential buyers continue to seek the opportunity to invest in a home so that they can build their own home equity instead of their landlords. Savvy buyers take the early steps to be pre-approved for mortgage financing and have reviewed the necessary documentation with their Realtor so they are ready to make a move when the right home comes along.
So, if you are thinking of making a move to sell or to buy a home, contact your Real Estate professional now to begin the process. You'll be glad you did!
Below you will find some of the various Durham Region Real Estate statistics gathered from the Toronto Real Estate Board's MLS System "Market Watch" report. The data compares July 2011 with July 2010.
H The Durham Region area had 906 sales in July 2011 measured against 1488
home sales in July 2010.
H The average asking price for a home in the Region of Durham in July 2011 was
$329,956 in comparison to $333,033 in July 2010
H The number of days it took to sell a home in Durham Region in July 2011 was,
on average, 32 days. The exact same it took a home to sell in July last year.
If you should have any Real Estate questions, whether big or small, please feel free to contact me. I appreciate the opportunity and am always glad to help.
Want to review the current Real Estate documentation you will likely be asked to sign when purchasing a home or placing your home up for sale? Check out my "understanding Real Estate forms" guide.
HAVE LINDA BECOME YOUR REALTOR LONG BEFORE YOU NEED ONE, AND SHE'LL BE RIGHT THERE FOR YOU WHEN YOU DO!