SEPTEMBER 2022 MARKET REPORT
DRAR REPORTS SEPTEMBER HOUSING STATISTICS
The Durham Region Association of REALTORS® (DRAR) President Meredith Kennedy reported 662 residential transactions in September, representing a 17.8 percent decrease when compared to the same time last month. Although Durham Region saw fewer new listings in September, listings in October are steadily increasing. Durham Region is experiencing a balanced market when compared to last year. Sales in Durham Region decreased compared to this time last year, but it is important to note that the average selling price is only down 0.5 percent. This is encouraging for Durham Region as it remains a desirable location.
On a year-over-year basis the average selling price only decreased by 5.4 percent reaching $915,027 in September. When comparing the average selling price in Durham Region to this time last month, the average price decreased slightly. Durham Region continues to be a popular marketplace for buyers and has not been experiencing the projected substantial price decreases.
“The average days on market (DOM) reported in September was 18, double the days on market reported this time last year when the average was 9,” said Kennedy. “An increase to the days on market is an advantage to both buyers and sellers as well as their REALTORS®. Real estate transactions are one the largest transactions for individuals and having time during the process for REALTORS® to do their due diligence is imperative for a smooth transaction. An increase to the days on market allows for important steps, such as time for arranging home inspections and financing.“
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 May 2021 to September 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.