Lisa Fayle October Durham Region Real Estate Market Update

🎉Hello everyone, it’s Lisa Fayle from Re/Max here! I hope you’re all enjoying the beautiful fall season. Today, I’m excited to bring you the latest updates on the Durham Region real estate market.

There are some interesting shifts this month that could affect your next move—whether you're a first-time buyer, thinking of upgrading, or ready to sell, staying on top of these trends is essential.

Here’s What’s Happening in the Market:

Market Activity: We’re seeing a slight decrease in new listings—down 10% in October—keeping us on par with last year's numbers. However, there’s a bright spot: sales have jumped by 32% from last month! Listings are moving fast, averaging just 23 days on the market.

Price Trends: The average sale price in Durham has held steady, adjusting by less than 1% to $888,914 this month. This is a 5% dip from last year but still signals stability in our market.

Interest Rates: In a significant move, the Bank of Canada announced a 0.50% rate reduction on October 23rd, bringing the rate to 3.75%—the first cut of this size since the pandemic! This might be the perfect time to consider buying or selling.

If you’re planning a move or just want to know what your options are in today’s market, I’d be happy to chat. Stay tuned with me on social media for the latest insights, listings, and sneak peeks before they hit the market!

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