A SHIFT FOR SPRING! In the real estate world, we have seen a radical shift in the market since the third week in February and the repercussions are showing up on our stats for the month of March, reported here. Inflation, the Russian war on the Ukraine, the threat of looming interest rate hikes and just recently, the release of the new Federal budget, have all contributed to a massive increase in listing inventory since the beginning of March, thus changing the landscape for... [read more]

DURHAM REGION, June 2, 2022 – The Durham Region Association of REALTORS® reported 1,025 transactions through their MLS® System in May 2022, down 5.9% from April 2022 and a 34.9% drop year over year. The local housing supply doubled to 1.4 months of inventory in May from only 0.7 months in March 2022. “Seemingly in response to increasing borrowing rates by the Bank of Canada, the market cooled slightly from April to May but only by 7%.” Stated DRAR President Meredith... [read more]

  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... [read more]

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... [read more]

Durham Housing Market Off To Strong Start in 2022 DURHAM REGION, February 2, 2022 – The Durham Region housing market is off to a strong start in 2022 despite a bitter Canadian January. Continued lockdown restrictions hampered Open Houses and many other traditional industry selling resources but we are encouraged by our REALTORS® continued creativity when it comes to utilizing virtual and digital media platforms to showcase their clients properties. Durham Region Association of... [read more]