Did the average home price in Whitby really jump 39% year over year?
The Toronto Real Estate Board is reporting that the average house price in Whitby is $517,678...a jump of 39% over the same time last January where the average sale price was $373,707.
Well don't get too excited. After looking a little deeper, it seems that included in the figures for January were 2 multi-million dollar development properties. If we remove those 2 sales from January's numbers, it brings the average sale price in Whitby down to a more realistic $397,178. This is an increase of roughly 6% which is way more in line with the averages across the region.
We are continuing to see a strong market which is largely being driven by the low inventory and high demand, not only in Whitby, but across the Durham Region.
If you are considering a move, perhaps are just curious about the value of your home or just want to learn more about the real estate market, give us a call. We're always happy to help.
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Dennis Downey, Sales Representative and Kim Downey, Broker
Sutton Group - Heritage Reality Inc., Brokerage