Understanding the Durham Region November Real Estate Market: Trends & Opportunities
Real estate Market trends in Durham Region
November
The Durham Region real estate market has changed this November.
More buyers are looking for homes, but there are fewer listings available compared to earlier this year. With demand rising and supply dropping, the market is starting to favour sellers.
That said, sellers need to stay realistic, especially with higher-priced homes, properties in northern areas, and condos at any price. Homes are now selling closer to their asking prices, and price drops are more common if a home doesn’t sell quickly.
In November 2024, the Durham Region real estate market, including Whitby, Ajax, and Oshawa, has become more favorable to sellers due to increased buyer interest and a decline in available listings. The average sale price in Durham Region is approximately $900,999, with properties selling at 100.7% of the list price, marking a 1.3% increase from the previous month and a 2.4% rise from last November.
In Whitby, the average house price stands at $1,027,778, with a median time of 23 days on the market. Zolo
Ajax reports an average house price of $946,079 and a median market duration of 23 days. Zolo
Oshawa's average house price is $789,252. Durham
Despite the competitive market, sellers should maintain realistic expectations, especially for higher-priced homes, properties in northern areas, and condos, as price reductions are common if homes do not sell promptly. Overall, the market dynamics in these cities reflect the broader trends observed across Durham Region.
Contact us today to discuss how these market shifts could impact your plans. Our team has the local expertise to guide you through these trends and help you make the most of current opportunities.
In summary, The real estate market in Whitby, Ajax, and Oshawa is shifting towards a seller's market this November, driven by increased buyer demand and fewer available listings. Despite this trend, sellers must stay realistic, particularly with higher-priced homes, northern properties, and condos, as price reductions are common for slow-selling homes. Homes in these areas are selling closer to asking prices, reflecting the competitive yet measured nature of the market.
