Homes in Whitby, Oshawa and Pickering changing hands quickly
Published January 19, 2023 at 11:18 am
The rate at which properties are trading hands has slowed in Ontario due to buyer apprehension in the market, lack of inventory and the need for more affordable housing.
But according to real estate company Zoocasa, a few communities – including three municipalities in Durham Region – are bucking that trend with properties selling within a month of entering the market.
Many homes in Ontario stayed on the market longer than usual in December, with 40 days the average in the City of Toronto. But Waterloo (25 days) and Aurora (26 days) were among seven communities where homes changed hands in 31 days or less.
At #3 on the list is Whitby, where properties (average selling price $1,039,980) stayed on the market an average of just 28 days. Properties in London also changed hands every 28 days on average, while homes in Oshawa (average price $774,621) changed hands every 30 days.
Homes in Pickering (average selling price $996,052) and Newmarket stayed on the market for an average of 31 days.
Hamilton (34 days) and Richmond Hill (35 days) rounded out the top 10 on the list. Properties in Ajax (average selling price $889,431) changed hands every 37 days on average to place 12th on the list, right behind Brampton (36 days).
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The average for the entire Toronto Region is 40 days, according to data from the Toronto Regional Real Estate Board (TRREB), a far cry from the pandemic when homes seemed to sell practically overnight.
