As the first housing stats roll in for 2019, there is some feelings of optimism. In the Durham Region, sales of homes increased 13.9% in January 2019 from the month before. This is a very positive sign and is encouraging to both buyers and sellers, as the number of new listings also saw a significant increase of 23.8% during this same time period. The average sales price in January 2019 was $577,935, a very slight decrease from the previous month of $587,200.
This increase in the number of sales was not just a month over month increase either (December to January). The increase extends to a full calendar year, seeing the number of sales increase 8% from January of 2018 to January 2019, creating optimism in the market for Durham. Hopefully with mortgage and market adjustments now in full swing, a steadier, more robust housing market can emerge.