Real Estate StatsReal Estate StatsReal Estate Stats December 10, 2024

Durham Region Housing November 2024

Durham Region Housing November 2024

 

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Housing Market Report for November 2024

Here is the Region of Durham  Housing November 2024 report (all housing types), with reports from the Canadian Real Estate Association,  and Toronto Regional Real Estate Board included.

This housing report for Durham Region includes the number of new listings, average list price, number of properties sold, average selling price, average days on market and average asking price to selling price ratio for all property types within the Region of Durham.

 

Scroll to the bottom for links to take you to the housing market reports for Uxbridge, Scugog and Brock.

 


 

COMING SOON

 


 

GTA REALTORS® Release November 2024 Stats

Greater Toronto Area (GTA) home sales increased strongly on a yearover-year basis in November 2024. Many buyers benefitted from more affordable market conditions brought about by lower borrowing costs. New listings were also up compared to November 2023, but by a much lesser annual rate. This meant that market conditions tightened, resulting in overall average price growth compared to last year.

“As we approach the end of 2024, I am pleased to report an improvement in housing market conditions. Many home buyers patiently waited on the sidelines for reduced inflation and lower borrowing costs. With selling prices remaining well off their historic peak and monthly mortgage payments trending lower, the stage is set for an accelerating market recovery in 2025,” said Toronto Regional Real Estate Board (TRREB) President Jennifer Pearce.

GTA REALTORS® reported 5,875 home sales through TRREB’s MLS® System in November 2024 – up by 40.1 per cent compared to 4,194 sales reported in November 2023. New listings entered into the MLS® System amounted to 11,592 – up by 6.6 per cent year-over-year. On a seasonally adjusted basis, November sales were up month-overmonth compared to October.

The MLS® Home Price Index Composite benchmark was down by 1.2 per cent year-over year in November 2024 – a much lesser annual rate of decline compared to previous months. The average selling price was up by 2.6 per cent compared to November 2023 to $1,106,050. Year-over-year average price growth was greater than that for the HPI Composite benchmark because of a greater weighting of detached home sales compared to last year. On a seasonally adjusted basis, the average selling price edged slightly lower compared to October.

“Market conditions have tightened, particularly for single-family homes. The detached market segment experienced average annual price growth above the rate of inflation, particularly in the City of Toronto. In contrast, the condominium apartment segment continued to experience lower average selling prices compared to a year ago. Condo buyers are benefitting from a lot of choice and therefore negotiating power. This will attract renter households into homeownership as borrowing costs trend lower in the months ahead,” said TRREB Chief Market Analyst Jason Mercer.

While the rental market will remain relatively well-supplied as more renters transition to homeownership, expect rental demand to pick up as population growth remains high. The rental market could strengthen for both tenants and landlords by reducing the backlog of cases at the Landlord and Tenant Board (LTB).

“Reforming the LTB to make it faster and fairer will go a long way to getting more individuals and families into homes they can afford,” said TRREB CEO John DiMichele.

 

Toronto Regional Real Estate Board – Market Stats At A Glance – November 2024

 

Read the Toronto Regional Real Estate Board  Market Watch Report 

 

 


 

 

Durham Region Full Report

 

In November 2024, Durham Region’s real estate market showed resilience with modest price growth and strong sales activity. The average sales price climbed to $904,226, a 2.39% increase from November 2023’s $883,115 and a 1.7% rise from October’s $888,914. The sale to list price ratio remained the same at 100%. Detached homes continued to command higher prices, with an average of $1,010,985.

Total sales for the month reached 739, down from October’s 888 but significantly higher than the 540 sales recorded in November 2023, reflecting ongoing buyer interest. New listings dropped to 1,198 from 1,766 in October and slightly below the 1,262 listings of last year, leading to tighter inventory. Properties spent an average of 41 days on the market, indicating a steady pace of transactions.

Months of inventory dipped slightly to 2.46, keeping the market at the upper edge of sellers’ territory, highlighting sustained demand despite seasonal slowdowns.

 

November 2024

Durham Region Housing November 2024

 

October 2024

 

Average Sold Price

Durham Region Housing November 2024

Number of Properties Sold

Durham Region Housing November 2024

 

Active Listings

Durham Region Housing November 2024

 

Number of New Listings

Durham Region Housing November 2024

Months of Inventory

Durham Region Housing November 2024

 

 

 


 

*Information is believed to be accurate at time of posting but is not guaranteed to be correct. Some values may vary slightly based on the exact date and time the reports were generated. Market stats are provided by TRREB (Toronto Regional Real Estate Board) and are based on sales for the month of Attached/Row/Townhouses, Condo Apartments, Condo Townhouses, Detached, Detached with Common Elements, Link Homes and Semi-detached. *Some values may vary slightly based on the exact date and time the reports were generated.

Not intended as a solicitation if your property is already listed by another broker. Affiliated real estate agents are independent contractor sales associates, not employees. ©2021 Coldwell Banker. All Rights Reserved. Coldwell Banker and the Coldwell Banker logos are trademarks of Coldwell Banker Real Estate LLC. The Coldwell Banker® System is comprised of company owned offices which are owned by a subsidiary of Realogy Brokerage Group LLC and franchised offices which are independently owned and operated. The Coldwell Banker System fully supports the principles of the Fair Housing Act and the Equal Opportunity Act.

 

Click below for more reports

Township of Uxbridge

Township of Scugog

Township Brock

 

Check out our Uxbridge and Scugog Events Pages to keep up to date on whats going on around town.  Click the links or scan the Code with your phone to take you directly there.

 

UXBRIDGE EVENTS

 

 

SCUGOG EVENTS 

 

Neighbour News