JULY 2022 MARKET REPORT
SALES TREND DOWNWARD IN JULY
DURHAM REGION, August 4, 2022 – The Durham Region Association of REALTORS® (DRAR) reported 700 transactions through the MLS® System in July. This represents a 36.5 percent decrease in sales when compared to last year. The number of new listings in Durham Region was 1,461 in July, a 14 per cent increase on a year-over-year basis.
Market conditions are balancing compared to earlier this year and buyers are benefiting from options. Durham Region has many neighbourhoods and communities with ideal options for buyers. The number of days on market increased to 15 days in July, a 25 per cent increase compared to last month. This is important to note as an increase allows time for home inspections, financing, showings and other conditions key to a successful transaction.
The average selling price in Durham Region was $901,412, a slight decrease from the previous month. The average selling price in Durham’s Oshawa market was $765,039. The MLS® Home Price Index (HPI) Composite Benchmark was up 12.5 per cent year-over-year reaching $995,500.
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 March 2021 to July 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.