OSHAWA HOME SALES, FEBRUARY 9, 2008 - The Durham Region Association of REALTORS® reported 350 sales of single family dwellings in all of Durham Region in the first month of 2009 up from 265 sales last month.
Oshawa reported 71 sales in January 2009, which consisted of 53 detached homes, 10 semi detached homes, 3 link homes, 3 vacant lots and 2 multiple family homes. This compares to a total of 137 sales during the same period last year.
The average price of a home in Durham Region was $257,095 from $262,710 in December with last January's average recorded at $268,923. "Prices are slowly correcting as a result of the economic slowdown," said Association President, Debbie Dawson. "Real estate is always a good investment and with mortgage interest rates the lowest in years it is definitely a great time to get into the market."
The Multiple Listing Service® (MLS®) had a total of 2324 listings in Durham Region up from 2137 last month. Listings on the system in January 2008 were 2069. Durham Region consists of Pickering, Ajax, Whitby, Oshawa, Courtice, Bowmanville, Newcastle, Newtonville and Port Perry.
"The changes recently announced in the federal budget will surely boost the confidence of Canadian home buyers, sellers and businesses in this economy," commented Dawson. "The increase of $5000 to the Home Buyers' Plan up to $25,000, will assist first-time buyers with their down payment and the closing costs associated with purchasing a home. The expansion of the ecoEnergy retrofit initiative; and the new tax credit for home renovations; will not only strengthen a soft housing market but will create jobs for skilled trades people, and associated businesses."
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RE/MAX is Canada's leading real estate organization with over 18,000 sales associates situated throughout its more than 670 independently-owned and operated offices across the country. The RE/MAX franchise network, now in its 36th year, is a global real estate system operating in more than 70 countries. Over 7,000 independently-owned offices engage more than 100,000 member sales associates who lead the industry in professional designations, experience and production while providing real estate services in residential, commercial, referral, and asset management.
