Clarington Real Estate Market Update: You will love this or hate this
Monday Mar 09th, 2020Share
CLARINGTON REAL ESTATE MARKET UPDATE: FEBRUARY 2020
You may love or hate this, but the average price of a home in Clarington is on fire again. New numbers from the Durham region and Toronto real estate boards show the benchmark home price in Clarington at around 621,000 for last month. This is unbelievable. Home prices are up 9.25% from this time last year. And you might be asking yourself, what's going on here? Jennifer Foley: Well, I'm going to break it down for you. It's like when the calendar years switched from 2019 to 2020, a switch went on and 2020 vision was in the buyer's eyes and buyer confidence was up and they got out there and started buying. And what we have here is really an inventory issue. It's really that simple. The number of new listings is down 15% and the sales are up 16%. so houses are sitting on the market for an average of only about 23 days in Clarington. 23 days. Jennifer Foley: And the type of home that we see with the positive momentum for the last month is in detached homes. Coming in at about 112 of the 155 sales, with an average price in Clarington being at around 673,000 which is higher than our neighboring city of Oshawa coming in at only around 562,000. Jennifer Foley: So overall, when I look at the numbers and break it down, there's just not a whole lot to choose from. And a whole lot of people are out there wanting to buy homes. That's your market update. And if you have any questions, I'm here to answer. So comment below or DM me. I'm Jennifer Foley. Thanks for watching.