Durham Average Home Selling Price January 2023
DURHAM REGION ASSOCIATION OF REALTORS® REPORT AUGUST HOUSING STATISTICS
The Central Lakes Association of REALTORS® (CLAR) President, Meredith Kennedy, reported the latest real estate statistics for Durham Region, showcasing a market that remains steadfast. Durham Region reported 1,275 new listings, a 20 per cent increase on a year-over-year basis. President Meredith Kennedy reported 776 residential transactions in August. More exciting announcements for the CLAR, September 1st marked the closing of the integration between Peterborough and the Kawarthas Association of REALTORS® and CLAR. Forward thinking leadership from the Boards of Directors of each Association along with the trust and endorsement of their memberships empowered the creation of a larger regional association which is an exciting step forward in organizing organized real estate. By combining forces, CLAR encompasses an expansive market area that includes Durham Region, Hastings County, Prince Edward County, Northumberland County, Peterborough County, and the Kawarthas. The average selling price for Hastings County was $540,889 and the number of residential transactions was 141 for August. Prince Edward County saw 36 transactions with an average selling price of $778,206. Northumberland County reported 125 transactions and an average selling price of $735,172. The number of residential transactions in Peterborough County was 165 with an average selling price of $714,369. “Looking forward, we know there is a solid demand for home ownership,” said CLAR President Meredith Kennedy. “We are happy to see the Bank of Canada decided to hold the interest rate steady at 5 per cent. The central bank has raised the interest rate 10 times since March 2022. This recent pause is a welcome relief for many.” “It has been a busy summer for organized real estate. The integrations between neighbouring associations marks historic change. We are proud of the collaboration and support from our Board of Directors and members,” stated CLAR CEO Wendy Giroux. “We have been diligently working to break down barriers for our members, ensuring they have access to the necessary tools and data to thrive."
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