Central Lakes Association of REALTORS®

The Central Lakes Association of REALTORS® (CLAR) President, Vicki Sweeney, reported the latest real estate statistics for CLAR’s regional area.

Approaching spring, the housing market is gaining momentum, with a surge in transactions on a month-to-month basis across all our regions.

Durham Region saw a 25% increase on a year-over-year basis from 598 transactions in February 2023 to 745 transactions in February 2024. Average price also increased slightly from $888,951 to $919,017.

Hastings County saw an increase in average price from $539,296 in February 2023 to $548,809 in February 2024. Number of transactions also saw a slight increase from 130 to 140 over the same time frame.

Northumberland County showed 124 transactions in February 2024, a significant 59% increase compared to 78 transactions in February 2023. We also saw an increase in Average price from $677,102 to $701,173.

Prince Edward County saw a slight decrease in number of transactions from 22 in February 2023 to 18 in February 2024. Average price also decreased from $963,548 to $819,711.

CLAR President Vicki Sweeney states “Our regions continue to exhibit robust growth with notable transaction increases across our areas compared to last month. These positive trends reflect a strong housing market.”

“We are anticipating that the Bank of Canada will postpone their next interest rate change announcement until the subsequent announcement on April 10th, as we are seeing low housing inventory and strong demand within the market currently” states CLAR CEO Wendy Giroux.

“CLAR supports Mayor Elizabeth Roy’s Campaign for a new hospital in Whitby. Given the acute strain on our healthcare system, it’s imperative that action is taken. We suggest you join us in advocating for this vital initiative to expedite the plans for construction of a new hospital in the municipality” states CLAR President Vicki Sweeney.