february 2023 MARKET REPORT
DRAR REPORTS FEBRUARY HOUSING STATISTICS
New listings and sales were down substantially from before the interest rate hikes in 2022 in Durham Region.
The number of new listings decreases by 44 per cent when compared to this time last year. Residential transactions decreased on a year-over-year basis by 47 per cent. The average price in Durham Region in February was $888,448. It has been almost a year since the Bank of Canada started the interest rate increases, and we are seeing the results of the market adjusting. There were 896 new listings reported in Durham Region for the month of February, this is a slight increase from January.
The number of residential transactions reported in February represented a 52.5 per cent increase from January. Ipsos polling information recently released at the TRREB Market Outlook, suggests buying intentions have picked up for 2023.
The MLS® Home Price Index benchmark for Durham Region was $924,400 a 23.23 per cent decrease from this
time last year.
DETACHED AVERAGE SELLING PRICE
1½ -YEAR TREND
(Oshawa, Whitby, Clarington)
Graphic representation of Detached average selling prices in Oshawa, Whitby, and Clarington for over a year and a half (from October 2021 to February 2023). If you wish a custom evaluation of your area's trend, please contact us and we'd be glad to share it with you.