Market Update for March 2016 in Durham Region
As predicted the first quarter of 2016 has been red hot for sellers and buyers are
competing for limited inventory. With interest rates remaining stable for the moment, and
a positive outlook for economic growth in our region (thanks to the 407 ETR) this has
fuelled the desire for homeownership.
There were 1474 residential homes listed in March 2016.
“The average selling price in March 2016 was $489,755, a 13.8 percent
increase from March 2015.” – DRAR
Here’s a breakdown of our area, according to the Durham Region Association of Realtors® (DRAR).
What does this mean to you the consumer?
If you are considering selling your home, now may be the time to do so. With inventoryat a low point, it has created a Seller’s market, intensified with competition betweenbuyers. On the other side, it is important to realize that purchasing a home during these types of markets can present challenges. A good working relationship with your Realtor® and other professionals are vital to ensuring a well-represented successful purchase. – Brett Puckrin
Brett Puckrin, Sales Representative
Presented by Puckrin & Latreille Real Estate Group
REMAX All-Stars Inc. Realty, Brokerage – Port Perry