august 2022 MARKET REPORT
DRAR REPORTS AUGUST HOUSING STATISTICS
DURHAM REGION, September 2, 2022 – The Durham Region Association of REALTORS® (DRAR) President Meredith Kennedy reported 806 transactions through the MLS® System in August, representing a 15 per cent increase a month-over-month basis. The number of new listings reached 1,275 for the month of August, this represents a 13 per cent decrease when compared to July 2022.
The average selling price in Durham Region was $920,269, a slight decrease from the previous month. The average price in Durham Region has not experienced drastic decreases forecasted for the market. The MLS® Home Price Index (HPI) Composite Benchmark was up 6.9 per cent year-over-year reaching $961,300.
The demand for homeownership remains strong and Durham Region is a popular location. Now is the time for all levels of government to address the housing supply issue and create long-term solutions.
DETACHED AVERAGE SELLING PRICE
(Oshawa, Whitby, Clarington)
Graphic representation of Detached average selling prices in Oshawa, Whitby, and Clarington for over a year and a half (from April 2021 to August 2022). If you wish a custom evaluation of your area's trend, please contact us and we'd be glad to share it with you.