BEST SELLING SEPTEMBER ON RECORD

DURHAM REGION OCTOBER 7, 2009 –The Durham Region Association of REALTORS® (DRAR) reported 825 sales in September 2009, down .5% from August 09’s 875, but up 9% from the 752 recorded in September ‘08’.

Average selling prices were up 1.4% ($282,308) in September, from August’s $278,400, and up 5.5% from the $267,478 reported in September ‘08’.

“Durham’s fall market is starting stronger than ever,” said Debbie Dawson, 2009 DRAR President. “With the reported 825 sales this September, it is the best selling September on record!”

Total active listings are down 36% (1920) from September 08’s 2989, and up 2.9% from last months 1865.

“This year’s real estate market has been a rollercoaster ride,” commented Dawson. “With a weakened economy Durham’s first quarter started off rocky. Government incentives kicked the second quarter into gear and into a buyers market. Now with listings well below the same time last year the market has spun into a sellers market. In the first quarter we never would’ve anticipated setting any records, but with both June and September in the record books, the first quarter pessimism has come and gone with the changing of seasons.”

Durham REALTORS®, We Work Where You Live. To contact a local Durham Association REALTOR® for more specific and local housing statistics or to search for an open house please visit www.DurhamRealEstate.org.