The Durham Region Association of REALTORS® (DRAR) reported 924 sales in October, up almost 9% from October of 2012. So far this year there have been a total of 9,152 residential sales in Durham Region, which is down 3% at this time last year.
"The number of sales this year is down 3%, however, our year-to-date dollar volume is up 3%. This is reflective of increased selling prices in Durham Region. In fact, the average selling price for a residential property in Durham is up almost 8% compared to last year".
The Months of Inventory Indicator (MOI) is currently at 1.8 which represents how long (in months) it would take to sell all the active listings if no new listings entered the marketplace. “ Any number less than 2.5 would indicate a strong selling market and this is what we are seeing across Durham Region. This mixed with high average sale prices represents a seller's market”
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