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November Resale Home Sales Slow But Steady PDF Print

DURHAM REGION December 3, 2010 – The Durham Region Association of REALTORS® (DRAR) reported 661 sales in November, a 4% decrease from the previous month of October and 5% less than November 2009.

Although the number of available listings were not as high as earlier in the year, there were still 1,748 homes listed on the Multiple Listing Service® (MLS®) system in November, close to 10% higher compared to both November 2009 and year-over-year totals to date.

“This has been an exceptional year within the resale housing market and 2010 is lining up to be a record year” explains Dierdre Mullen, President of the Durham Region Association of REALTORS®. “While considering normal seasonal trends and the boom of the market at the beginning of the year, the second half of 2010 has remained very stable and has reverted back to a comparable pace to prior years.”
The average selling price for a November resale home transaction was $299,698 a decline of 2.2% from October’s reported $302,490. Year to date, the 2010 average selling price of $299,836 is 7.9% higher than the $277,842 of 2009.

“The average selling price of a resale home in Durham remains comfortably affordable for households earning the average income. This is expected to continue, with just moderate gains, into and through the upcoming New Year.”

 
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