Last week Durham Region market had a significant drop in the number of recorded sales. In fact, the week of September 4-10 was the slowest for the number of sales this year.
Long Weekend
The Labour Day weekend may have curbed the number of sales, as we usually do see a reduction in activity during long weekends.
Interest Rates Increase
Time will tell whether the lower number of sales also reflects the Bank of Canada interest rate increase which was announced right after the long weekend.
The second lowest week for sales this year was the second week of July, same week as the Bank of Canada rate increase announcement.
More Choice In New Listings
The number of new listings had increased by 30% from the week earlier with the total number being about 4% lower than same time last year.
The average selling price for the region for all property types based on the number of reported sales was at 935K.
View the latest numbers for your city and call, text, or email for more information.
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