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July Mid Month Durham Region Real Estate Market Update

July 16, 2015 --Toronto Real Estate Board President Mark McLean announced that 4,332 sales were reported through TREB’s MLS® system by Greater Toronto Area REALTORS® during the first 14 days of July, 2015. This sales figure was up by 11.9 per cent compared to 3,871 transactions reported during the same timeframe in 2014. Over the same period, new listings were down by 5.4 per cent to 6,831.

“There are many reasons why demand for ownership housing remains strong in the GTA. The fact that we benefit from steady population growth and a strong regional economy, compared to many other parts of Canada, is clearly important. On top of this, of course, home buyers continue to benefit from historic or near-historic lows in terms of borrowing costs, which is key from an affordability perspective,” said Mr. McLean.

The average selling price for July 2015 mid-month transactions was $610,724 – up by 11.5 per cent compared to the average price of $547,777 for sales reported in the first 14 days July 2014. Year-over-year price growth was reported for all major market segments. “The persistent lack of listings in many segments of the GTA housing market has been a key story this year.

We have seen strong demand from all buyer groups – from firsttime buyers through to those seeking to purchase a luxury home. The problem is that many of these would-be home buyers have not been able to strike a deal on a home that meets their needs. The lack of supply has led to increased competition between buyers and strong upward pressure on home prices,” said Jason Mercer, TREB’s Director of Market Analysis.


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Buyer ServicesBUYER SERVICES

Have you ever spent countless hours search through the MLS system seeing the same homes over and over again looking for the perfect home, hoping to find something new?   Then, when you do find what could be your dream home, you call the listing agent only to find out it has already sold?

Seller ServicesSELLER SERVICES

Mary Roy & Team have been selling homes in the Durham Region since 1987!  Ranked in the top 1% of Realtors across the GTA and Durham Region, we know what it takes to get homes sold fast, and for the most money.We provide each of our clients with a comprehensive plan of action outlining exactly what will be done to get their home SOLD and for the MOST MONEY! We will provide you with up-to-date information on your marketplace, as well as the price and details of competing properties.