REAL ESTATE BLOG

Media Release Durham Region Association of REALTORS® DURHAM REGION, February 3, 2023 – Durham Region Association of REALTORS® (DRAR) President Meredith Kennedy reported 394 residential transactions in January. The number of new listings in Durham Region increased from December by 88 per cent, with 863 new listings reported last month. The average price in Durham Region was $886,849 in January representing a slight increase compared to December. The average...

The Bank of Canada raised its key overnight lending rate for the eighth straight time Wednesday morning, but signalled its rate-hiking campaign could finally be over. The move was widely expected by economists as the bank tries to wrestle record-high inflation into submission. It's the eighth time in less than a year that the bank has hiked its trendsetting rate — a move that will make borrowing money more expensive. But at one quarter of a percentage point,...

A LOOK BACK IN 2022 AND AHEAD IN 2023:  Provided by Richard Robins International Interest rate hikes have undeniably eased a few scorching hot Canadian seller’s markets (which was needed). Unfortunately, though, we’ve also seen record declines in total sales month-over-month and, in some cases, close to the lowest posted sales numbers in 6 years.  Since January 2022, the Bank of Canada policy rate experienced 7 different rate hikes, taking us from 0.25 in...

  We get asked this question everywhere we go, especially at this time of year, as a new year is about to unfold before us. We love having the conversation. Educating homeowners and homebuyers on what is really happening, devoid of the hype written in almost every news outlet, is a privilege to us. Here’s our position for the coming housing market year in our area…   For 2023, we are anticipating a market in correction for the first half of the year,...

' Tis The Season... It’s the most wonderful time of the year once again, when holiday joy fills the heart! This year, more than ever, the whole world needs a little more hope, a little more grace, and a little more peace...it is our greatest wish that this Christmas, your lives will be blessed with happiness, health and everything that is good and positive, beautiful and kind. At our brokerage, the holiday spirit is alive and well. We kicked off the season with our annual...

THE MARKET IS STILL STRONG IN DURHAM REGION… FOR THE MEANTIME! Many of our average selling price categories look very similar to those of last month; with some even rising, like that of the condo apartment. While our market continues to adjust to higher borrowing costs and squeezes out a significant number of potential players from our buyer pool, the real estate market in our area continues to weather the storm quite well. How is that possible, you may ask? Well, the September...

In this edition of tempo, you will notice that we saw an uptick in the market for the month of August here in the Durham Region. The volume of sales increased, while our new listing inventory was lower than in July. The average price rose slightly in every category of detached, freehold homes, with beautiful, well-presented, properly priced properties experiencing multiple offer scenarios, many with competing offers counting into the teens. Houses took longer to sell but ultimately sold for...

  While this month’s edition may read a little “doom and gloom”, bear in mind that the summer market is always slower than the rest of the year, and our statistical analysis is reflective of what happened for the month of July -- a notoriously quieter month on the resale calendar. That, coupled with rising interest rates, out of control inflation and a new tentativeness in the buyer psyche, equals a very changed landscape in the world of real estate. Once the kids...