Staying informed about the latest statistics is crucial for making well-informed decisions. The Durham Region Housing Stats are out for October 2023.
The real estate market in Durham has continued to captivate investors and homebuyers, offering a diverse range of housing options.
With the arrival of November, the region’s real estate statistics paint a compelling picture of the market’s performance.
Let’s dive into the comprehensive analysis of the average sales price, home sales, new listings, average days on the market, and months of inventory for the entire region and each specific area within Durham.
The Durham Region average house price was $931,548, which represents a 2.6% increase compared to September 2023 and a 4.2% increase compared to the same time last year.
The total number of home sales in Durham was 588, which is a 10% decrease compared to September 2023 and a 7% decrease compared to last year.
The region had 1761 new listings come onto the market, representing a 2% increase compared to the month prior and a 49% increase compared to the same period as last year.
The average days on the market was 17. Last year, the number of days on the market was 16, reflecting a stable market trend.
The months of inventory across the whole region was 3.0. The months of inventory at the same time last year was 1.7. This number represents the time it would take for all existing inventory to sell, given that no new listings enter the market. Anything under two months is considered a seller’s market, and anything between 2 and 4 months is more balanced.
Most of Durham Region is currently experiencing a balanced real estate market, with some areas experiencing a weak buyer’s market.
Below, you can find the real estate statistics for each individual area.
When going over the stats, please note that they are for the area as a whole. For a more customized report involving a specific property type or neighbourhood, please reach out, and our team would love to get that over to you.
Stay tuned for more updates on the evolving real estate landscape within Durham Region!
Andrew Irani, Durham Region Realtor
905-541-6683
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