The Durham Region Association of Realtors is reporting the best March in six years, and the best first quarter ever, in terms of sales.
The group reports 1,110 sales of single family homes in Durham in March. That helped toward a best-ever first quarter, with 2,461 sales.
March’s average price also reached a new height, coming in at $306,140, an increase of 16 per cent over March 2009′s average price of $263,970.
“It’s worth noting that although the annual rate of growth is currently quite substantial, the market will likely level out to smaller, single-digit rate increases soon,” said Dierdre Mullen, president of the Durham Region Association of Realtors. “As new active listings continue to grow and provide vaster options for buyers, eventually, availability will outweigh demand and the market will level out.”
As of April 1, there were 2,132 active listings in Durham. A record 2,016 of those were newly listed in March, the largest influx of new listings Durham has seen in one month.
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