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Lisa Fayle August Durham Region Real Estate Market Update

🎉Hi everyone, Lisa Fayle from Re/Max here with your latest update on the real estate market in Durham Region for August! Whether you're a buyer, seller, or just keeping an eye on the market, there are some exciting developments this month that you'll want to know about. *Market Overview* *New Listings on the Rise**: We've seen a **5% increase in new listings* compared to this time last year. This rise in inventory is great news for buyers, giving them more options to find the perfect home. If you've been looking for a property but felt like there wasn’t much to choose from earlier in the year, now is the time to explore the market. Sellers also have an opportunity to take advantage of motivated buyers before the fall season picks up. **Sales Activity**: Although sales have decreased by **9% compared to the previous month**, this is a typical pattern for the summer season when the real estate market tends to cool off a bit due to vacations and family time. However, when we look at sales year-over-year, they are holding steady, which suggests that despite the seasonal dip, the market remains active and stable. *Active Listings Remain High**: The number of active listings continues to stay elevated, meaning buyers have a **fantastic range of options* to explore. With more properties on the market, buyers have a bit more breathing room and negotiating power, creating a more balanced environment compared to the competitive spring market. *Price Trends* *Slight Price Adjustments**: The **average sale price* in Durham Region has seen a slight adjustment this month. At **$907,997**, prices have dipped by just **1% from the previous month**, and they are only **2% lower than last year’s figures**. This small decrease is not uncommon during the summer months when the market slows slightly. However, the fact that prices remain above $900,000 shows just how strong and resilient the Durham market continues to be. *What Does This Mean for Buyers and Sellers?* #oshawa #whitby #oshawarealestate #durhamregion #durhamregionrealestate #torontorealestate #toronto #realestate #torontohomes #gta #gtahomes #clarington #claringtonrealestate #bowmanville