It's December 30, 2020 and Housing Demand in the Durham Real Estate Housing Market is currently outpacing supply, which we have noticed has had an impact on average home prices across the region.
Average Residential Sales Price in Durham Region is up 14% year over year.
Based on stats, there are currently 1.1 month worth of supply, equalling a Sellers Market.
An influx of buyers from outside the Durham Region accounts for some of the prominent trend of 2020, with most of these buyers seeking larger properties, & more space in Durham Region. These buyers, known as Move-Over Buyers, coming from various areas outside the region.
Opportunity knocks for a first time home buyer to get into home ownership in the condo market where average price in 2020 is $422,919.
Overall, taking a look at recent sales in Durham Region, specifically Oshawa, Bowmanville & Whitby, the top 3 hottest neighbourhoods in Durham Region in 2020, I share with you what the average price for a home in each of these neighbourhoods is currently.
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Data compiled from Resource : RE/Max 2021 Canadian Housing Market Outlook Report Dated Dec 1, 2020.
This video was recorded Dec 30, 2020, and my stats collected based on recent sales in Oshawa/Whitby/Clarington between Dec 1 -28, 2020.