MLS Real Estate Housing Statistics - May 2011

MLS Real Estate Statistics for Durham Region including Whitby, Brooklin and Oshawa
Are you a home owner thinking of Selling your Durham Region property and wondering about the current market and when you should put that "For Sale" sign up?  Perhaps you are planning on Buying and investing in your own home and would like to be aware of the current market in Whitby, Brooklin, Oshawa or other areas in the Region of Durham, Ontario? Whether you are a Seller, Buyer or simply wishing to stay in the Real Estate Market loop, you may find the following data beneficial.

In May 2011 we had a total of 3964 active listings on the marketing in Durham Region compared with the 5330 homes in May 2010.  With a "homes available for sale" inventory drop like that, it explains why, if you are a potential seller, you may have been advised to move forward on working with your Realtor to place your home on the market as soon as possible...as the buyers are out there!

First glances would make one think that sales are down however, this is not the case.  Dispite the lack of inventory, the homes that sold this May overall was actually higher than last year with 2182 homes sold this year compared with 2151 last year.  In addition, the average asking price for a home has increased by over $15,000 in the past year.  Not surprising when you consider the decrease in supply and the increase in demand.  Buyers are anxious to invest in a home when the right fit is made.Below is a compilation of the various Toronto MLS System statistics comparing May 2011 with May 2010.H  The Durham Region area had 2182 Sales in May 2011 compared with 2151 Sales in May 2010
H  The average asking price for a home in the Region of Durham in May 2011 was $365,942 in comparision to $349,402 in May 2010
H The number of days it took to sell a home in Durham Region in May 2011 was, on average, 22 days which did not fluctuate from the same month last year.

For selling information, buying information or more MLS property listing statistics, please visit www.LJ4Homes.com.  In addition, if you should have any Real Estate questions, whether big or small, please feel free to contact me.  I appreciate the opportunity to help.
Want to review the current Real Estate documentation you will likely be asked to sign when purchasing a home or placing your home up for sale?  Check out my "understanding Real Estate forms" guide.