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Bordering Lake Ontario, Durham Region is an excellent place for prospective buyers looking for a home close to green space and the waterfront. The region consists of eight municipalities, including Ajax, Brock, Clarington, Oshawa and Pickering. But with a total population of around 700,000, it is one of the smaller regions in the Greater Toronto Area (GTA).
Best places to buy real estate in Oshawa, Pickering, Whitby and other Durham municipalities
In the table below, you’ll find the top neighbourhoods for real estate purchases in areas like Oshawa, Pickering and Whitby—the Ontario region known as Durham. To view all the data, slide the columns right or left using your fingers or mouse. You can download the data to your device in Excel, CSV and PDF formats.
Source: Zoocasa
How to read the table:
- Benchmark price 2022: The composite benchmark price as of Dec. 31, 2022. It represents all property types, including attached and detached homes, townhouses/row units and apartment units.
- 1-year, 3-year and 5-year growth: The percentage increase or decrease in the composite benchmark price (all property types) over each time frame.
- Value, economics and accessibility: These neighbourhood characteristics are each scored on a scale of 0 to 5, with five representing the most value for your money, high levels of income and education, and ease of travel by foot, bike and public transit.
- Children: The neighbourhood’s percentage of households with kids.
- Read the detailed methodology behind our rankings.
What’s happened in the Durham Region real estate market?
Durham Region real estate started off strong in 2022. The average home price broke $1 million for the first time in December 2021, and it peaked at $1,228,990 in February 2022. However, interest rates began to rise in March 2022, causing the average home price to fall. By May, it had come back below the $1-million mark, and by December, it was $874,456. Demand for detached and single-family homes is typically high in Durham; however, as mortgage affordability tightened, townhouses became a more popular option.
“In 2022, buyers had their eye on detached, freehold properties, but as affordability was impacted by rising interest rates, some buyers began seeking out townhouses,” explains Andrea Lao, a local Zoocasa real estate agent. “Many buyers in Durham have either lived in the region long-term and are looking to upgrade their property type, or they are first-time buyers looking to move out of their family home, which is why the demand for detached homes, semis and townhouses is always strong.”
What’s next for real estate in Durham Region?
While many buyers may still be hesitant to get into the market because of the changing landscape, a slowdown in rate increases could lead sideline buyers back in. Trying to tempt those on the fence into making their move, many sellers are lowering asking prices to generate interest and even competition.
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