Durham Home Sales Report

11/04/2019

As the end of 2019 approaches, you may be making plans for the coming year and thinking about what the new year will bring for you and your home.

10/19/2019

One in five homes purchased by Canadian newcomersCanadian newcomers projected to make 680,000 home purchases over next five years82% of newcomers choose to stay in their first city of residence75% of newcomers arrive with savings to help purchase a home75% of newcomers do not consider moving to the....

09/16/2019

Market Trends in Durham for the month of August- 2019 compared to August-2018
(Source- TREB Market Watch-Includes all Municipalities Durham Area, for all types and styles of residential)

1) # of Sales in August 2019= 1046, in August 2018= 837; up 25%.
The biggest gain was for detached homes, # of sales in this category was up 35%. 736 in 2019 versus 546 in August 2018. This means the detached homes in Durham are more affordable compared to other GTA areas.

2) A modest increase in average sold price, up 3.9% overall. The Det. Homes went up 2.5% while Condo Townhouses went up 8.6% compared to August 2018.

3) Sales to New Listings Ratio went up from 57% in August 2018 to 68% in August 2019, more sales compared to new listings in August 2019, favoring stronger seller's Market in August 2019.

4) Active Listings in August 2019 were 4.8% less compared to August 2018, last August total 1917 versus 2014 in August of 2018 so Absorption Rate in days August

08/30/2019

Housing Market Trends in Oshawa for the month of July- 2019 compare to July-2018
(Source- TREB Market Watch- for all types and styles of residential)
1) # of Sales in July 2019= 300, in July 2018= 219 up 37.0%
2) # of New listings came = last July 527; in July last year = 505. Up 4.4%
3) *Sales to new listings ratio = 57.0% this year versus 43.3% in July 2018 means last year at this time it was buyers market in Oshawa*
4) Overall Sold Price= for July 2019 average was $501,000 versus $486,000 in July 2018, i.e. 3.1%up. All categories (except Condo. Apt and Semi-Detached) went up; the highest gain was for Link Homes and freehold Townhouses.

5) In 2019 July there were 532 active listings in Oshawa compare to 632 in July 2018 means inventories were 15.8% less in July 2019 compared to July 2018.
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* Sales to New. Listings Ratio= # of Sales divide by # of New Listings coming on the market. Traditionally when Sale to New listings Ratio is 50% or more it is the seller's market if 50% or low it is the Buyers market. Closer to 50% ratio is a balanced market.

08/22/2019

Market Trends in Durham for the month of July- 2019 compare to July-2018
(Source- TREB Market Watch-Includes all Municipalities Durham Area, for all types and styles of residential)

1) # of Sales in July 2019= 1041, in July 2018= 788; up 31.1%

2) # of New listings came =July last July 1892; in July last year = 1677. Up12.8%

3) *Sales to new listings ratio = 55% this year versus 47% July 2018 means last year at this time it was buyers market*

4) Overall Sold Price= for July 2019 average was $605,000 versus $484,000 in July 2018, i.e. 25.0%up. All categories (except Condo. Apt) went up, All Town Houses had more gain. The least gain for semi Det.
5) In 2019 July there were 2176 active listings in Durham compare to 2194 in July 2018

6) **Absorption (in Days) in 2019 July was 63 days versus 84 days in July 2018. It means 21 days less to finish all stocks if no new listings come on the market

7) *** Absorption Rate Ratio=47.8% this July against 35.9% in July 2018- good for the sellers in July 2019.
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* Sales to New. Listings Ratio= # of Sales divide by # of New Listings comes on the market. Traditionally when Sale to New listings Ratio is 50% or more it is seller's market if 50% or fewer Buyers market. Closer to 50% ratio is a balanced market.

**Absorption = how many days will it take to sell existing supply assuming no more houses coming on the market, i.e. # of active listings divided by monthly sales x 30 days. A market that favors sellers has less than 6 months (180 days) of supply, while more than 6 months of supply indicates conditions that favor buyers. So we have a long way to go for a buyers market.

*** Absorption Rate= It is in reverse means # of sales/active listings, higher the ratio more favorable conditions for sellers.

08/21/2019