In the Durham Region the numbers are in for March. Sales up! Prices down!
In January this year there were 412 sales and in February we saw a slight increase to 454 sales, then in March sales climbed to 640. Selling prices continued to adjust slightly downward by 6.8% from the beginning of this year.
On a positive note, the Durham Region stats cover 8 Municipalities. As a whole, the market did adjust downward, but the good news is that each Town or Municipality is reported individually.
Pickering, Clarington, Scugog and Oshawa prices edged upwards with Ajax, Brock, Uxbridge and Whitby slightly downward.
We are coming into our Spring Market and with prices being more affordable, can expect to see more sales. Yes, it seems to be taking longer to sell but that is because of the uncertainty and lack of confidence in the economy.
Buyers are still pondering if prices will drop further, and sellers still want yesterday’s prices.
There is a lot of activity, with the better weather for viewing, more Open Houses are happening. This will help buyers to compare and decide whether to make a move or take their chances. If our interest rates start to creep up, I do believe buyers will start to buy.
Our federal and provincial governments are trying to stimulate the economy with new builds and incentives for builders, but that will take time to see any results. Not much we can do or say about what is happening in the world today. It seems like there has always been unrest and wars. It is a shame that nothing has really changed except the people in power.
I believe that this next stage, the Age of Information and Technology, will work itself through. We have traveled through many years of growth and change, and I have faith that this will too.
Thank you for your interest and support,
Judy & Jo
Post a comment