What's happening in the market in Durham Region?
It's still a Seller's Market
March is the 3rd consecutive month where detached homes, semis, and condos saw sold price increases for Durham as a whole.
Sales & New Listings are up in March and Days on the Market continue to decline in every market with the exception of Scugog.
Every city/town is unique as are the communities within them. Scroll through to find your town.
What's the Takeaway?
Sellers can feel confident knowing there is a growing but limited pool of listings competing for a larger pool of buyers.
Buyers can still find opportunities and while competition is heating up it's still not nearly what it was at the peak.
With interest rates holding and the market adjusting to the new normal. It will be interesting to see if more buyers enter the market and what impact that will have on the competition. More listings are hitting the market but it still doesn't seem to be keeping up with the demand.
1920x1048-Durham March 2023 by Brian Stanton