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AUG 27 – Decline In New Inventory

After weeks of having more new listings than last year, last week in Durham Region had 14% less new inventory than same time a year ago and 85 less new listings than the week earlier. 

Average sales price for the region hovers around 880K, while the number of sales was down by 33 comparing with the previous week.

Average asking price was higher by about 8% than same time last year, meanwhile average sales price was down by 1.6%.

We need more listings to truly feel a more balanced market. Multiple offers still happen on many properties that are priced right and a decline in new properties available for sale may further stimulate more buyer competition.

View the latest numbers for your city, and call, text, or email for more information on how this affects home selling or home buying plans.

Stay tuned for the next Durham Region real estate market update!

YOUR DURHAM REGION REAL ESTATE EXPERT 👉

https://julita.ca/

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MAY 14 – More Choices For Home Buyers In Durham Region

More choices are emerging for home buyers across all areas in Durham Region. The average number of sales last week was down 50% comparing with same time a year ago. The average sales price dropped to $999,000, down about 40K from the week earlier. Meanwhile, there were 617 new listings resulting in a 14% increase from same time last year.

More Homes Means More Choices for Home Buyers

Home buyers now have a lot more choices than we had throughout the pandemic and in the beginning of the year. Average list price has dropped similarly to the sales prices. Lower prices and more inventory are sparking hope for many first time buyers that had been previously priced out. Check in with your mortgage broker again if you have been sitting on the sidelines. This market is becoming a lot more buyer friendly.

New Opportunities in Durham Region

New opportunities for home buyers emerge in a shifting market. Many properties in Ajax, Whitby, Oshawa, Bowmanville, Pickering and Uxbridge are still priced under market value and sell with competitive and firm bids. Those who have purchased within the last few years know very well how competition creates a lot more stress and often doesn’t allow for an opportunity to conduct a thorough home inspection.

However, right now there are plenty of opportunities to purchase without competing. It seems buyers are used to homes selling for a lot more over asking price and still often expect properties to go way over asking even when priced spot on the market or overpriced. That’s often not the case. Don’t be afraid to make a reasonable offer on a property that seems to be priced higher, especially if it has been on the market for a while.

Check out the video to see what’s happening in your specific area and whether you’re moving or not reach out ☎️ and let’s chat about what these numbers mean for the value of your property or home buying plans!

Stay tuned for the next Durham Region real estate market update!

YOUR DURHAM REGION REAL ESTATE EXPERT 👉

https://julita.ca/

FOLLOW ME ON INSTAGRAM 👉

https://www.instagram.com/julita.real.estate/

FOLLOW ME ON FACEBOOK 👉

https://www.facebook.com/JulitaRealEstate/

SUBSCRIBE TO NEWSLETTER 👉

https://julita.ca/subscribe-to-market-updates/

SCHEDULE A CONSULTATION 👉

https://julita.ca/contact/