Durham Days on Market
Wednesday Feb 13th, 2019
Hi again and welcome back! Here’s your chart on Durham’s Detached Home market for the day: Days On Market.
“Huh? What does that mean?” you might ask. Well, Days on Market indicates how long a home has been listed on the Toronto Real Estate Board’s MLS service. It’s a funny data-point because it doesn’t take into consideration how many times a listing has been terminated previously and how long it was previously listed for (something a good Realtor® should always research for you - wink, wink I do this!). Anyway, I’m getting too technical, so let’s just look at the chart.
Wow - that’s a lot of bars.
Remember yesterday, I showed you that Durham’s detached market peaked in Spring 2017? Well, during that time, homes were selling super fast - on average within 10 days. That’s supply and demand at work. If you look at the top bar - that’s the average for Oct-Dec 2018 - 28 days on market.
The bottom line here is that the real estate market in Durham has transitioned. It’s taking about a month to sell a home. So, if you are planning to sell, have some patience, the right buyer will come along if your home is priced appropriately, shows well, and marketed properly. Choosing a knowledgeable Realtor® can help you make this happen even faster - so contact me for the skills and knowledge to get your home sold this spring.