Sunday, April 5, 2009

Ontario's Durham Region Home Sales Improve from January to February 2009

Although still showing a steep decline from same month sales in 2008, sales figures are up from January this year to February.

According to the Durham Region Association of Realtors, 507 homes sold in February 2009 - that's nearly 20 a day! Considering that January 2009 only 350 sales took place it looks like what we've been saying here for months now is finally showing up in the media. Sales are increasing - by no means is the trouble over and done with - and consumers are showing optimism.

Couple those increases with the fact that the average selling price of a home also increased and you'll see why industry insiders have something to smile about. Of course the average sale price is still down from same month in 2008 however let's look at the numbers: January 2009 $257,095 and February 2009 $263,899. That increase is about 2.4%.

With all the pessimism and worry about Oshawa and its auto industry woes that the media continues to feast on, its no wonder that people missed the fact that the Canadian Real Estate Association figures show Oshawa ranking #7 out of the top 10 Canadian cities where average house prices were up from the national and major market selling prices that had declined over the year.

With mortgage interest rates at historic lows ... a five year insured mortgage available through a licensed mortgage broker is now just 3.85% ... moderate gains sould continue as we head into the spring and summer market.

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