march 2022 market report
March Home Prices Dip Slightly But Sales Remain Strong
DURHAM REGION, April 5, 2022 – The Durham Region Association of REALTORS® (DRAR) reported strong residential transaction growth in Durham Region in March 2022. On a month-to-month comparison from February 2022, residential transactions rose 23.5% to 1,390 last month.
DRAR President President Meredith also reported an increase in new listings to 2,473 in March 2022, an increase of over 53% over February 2022 and a 12% drop from the record setting period last year.
The average price in Durham Region has dropped 6.5% from last month to $1,148,685, and still remains the lowest amongst the GTA Regions. “There is a shift happening and we expect to see further corrections still but nothing overly substantial. Listings are up and so are the amount of sales which is great to see for so many buyers.” said DRAR President Meredith Kennedy.
The MLS® Home Price Index and Composite Benchmark price for all home types in Durham reached $1,158,100 – a 42.49% increase from 2021.
DETACHED AVERAGE SELLING PRICE
(Oshawa, Whitby, Clarington)
Graphic representation of Detached average selling prices in Oshawa, Whitby, and Clarington for over a year (from November 2020 to March 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.