August 2020

Durham Region Real Estate Market Update

The Durham Region Association of REALTORS® (DRAR) President Vicki Sweeney reported 1,583 residential transactions for the month of July, representing a significant 52 per cent increase from the same time last year.

The number of new listings in Durham Region reached 1,905 in July, a slight increase on a month-over-month basis from June. The days on market saw a large decrease compared to the same time last year from 23 to 16 days on market in July 2020.

“The real estate market in Durham Region is seeing an increase of activity during this summer market. The number of residential transactions increased significantly on a year-over-year basis in July,” said DRAR President Vicki Sweeney.

“The average price in Durham Region reached a record high for July at $709, 640. Although the market is busy and many areas are now in Phase 3, REALTORS® are encouraged to continue to practice safe measures and follow health official guidelines.”

The July 2020 MLS® Home Price Index (HPI) Composite Benchmark was up by 12.27 per cent compared to July 2019. The Benchmark price for a single-family detached home in Durham’s Clarington market reached $637,000 in July 2020.

“Sales activity in the market has been very strong. We are seeing an increase of sales consistently and low interest rates,” said Sweeney. “Many buyers are feeling more comfortable with the reopening of the economy in Phase 3.”

The City of Oshawa has been setting building records this summer as economic development in Durham continues to experience strong growth. Oshawa set another building record in June amid the pandemic.

Year-to-date construction value issued in Oshawa has already exceeded last year’s total construction value by 8 million, with Oshawa setting yet another building record in June. During the month of June 2020, the City issued 96 building permits for a total of 82.5 million in construction value.

“Durham Region’s economic development has been growing rapidly this past summer. It’s no surprise the City of Oshawa has been setting building records,” said DRAR President Sweeney.

"As the workplace changes, more families and individuals are exploring the Region and moving further East. The July housing statistics reflect the demand in the Durham marketplace.”

How to Create a Functional Home Office
Many of us are now working from home as a result of the pandemic. Whether it’s working at a desk in a closet or converting the garage into an office, we’re quickly learning to appreciate the benefits of a functional workspace.

There are many advantages to working from home, but it also comes with a whole new unique set of challenges. Here are a few tips that’ll help you get the most out of your newfound home office space:

Standing Room Only
Consider purchasing an adjustable standing desk as it’s better for your posture. In the meantime, make sure your monitor, keyboard and mouse are at the correct ergonomic level.

Lighten Up
Try to choose a space with lots of natural light as it’ll help reduce eye strain by cutting down the glare on your screen. Also, consider a SAD lamp to help lift your spirits on those darker days.

Sound Off
If you spend a lot of time on conference calls, you may want to think about soundproofing your space. Hard surfaces amplify sounds while carpets, rugs and curtains help absorb loud noise.

Space Saver
Try to make the most of your office space by hanging shelves on the walls or by maximizing the space underneath your desk.
Focus Your Flow
It’s important to separate work time from home life so try your best to avoid distractions. Putting on a load of laundry for instance can significantly affect your flow and focus.

Zoom Room
Now that everyone on your Zoom calls can peek inside your office, it’s important to ensure that your background looks professional and doesn’t have too many distractions.

Make Some Green
Spruce up your space by adding a few plants in and around your office as they’ll help improve the air quality and increase your general level of happiness :)

A comfortable home office can make a huge difference to your productivity so it’s important to take the time to properly set up your space. It’s hard to say how COVID-19 will impact home design in the long run but if you’re thinking of selling any time soon, a well-designed home office will likely be high on many home buyer’s wish lists.
End of Summer Maintenance Tips
It’s important to regularly maintain your property inside and out as it helps protect your most valuable investment from falling into disrepair.

Although summer’s still in full swing and home maintenance is probably the last thing on your mind, it makes sense to take care of the following jobs before fall rolls around:

Driveway Damage
Pressure wash the driveway while it’s still nice and warm outside and repair any cracks to prevent further erosion when the colder weather rolls around.

Furnace Filter
Changing the furnace filter in the height of summer may seem unnecessary but it’s important as the air conditioning runs through your furnace vents and accumulate huge amounts of dust.

Brush Up the BBQ
The BBQ usually gets forgotten about as it takes a while to cool down after it’s used so give it a good clean and check for any cobwebs around your burner tubes.

Dust Ceiling Fans
Your ceiling fans have probably had a good workout this summer but you don’t want chunks of dust to fall to the floor when you clean them so put a pillowcase over the blades and pull it off gently so that the dust stays inside.

Regular home maintenance will help ensure small problems don't turn into big headaches that need professional attention on short notice. Once these jobs are completed, you’ll be able to get back to enjoying the lazy days of summer! ??

Handy Home Design Apps
If you’re redecorating or renovating your home, there are a number of apps out there that are designed to help make your life a lot easier! Here are a few ones to check out:

Bubble Level
This ingenious app turns your smartphone into an easy to use and surprisingly accurate spirit level! It makes hanging pictures, mirrors or even cabinets a cinch!

Photo Measures
Leave your tape measure at home as this handy app lets you take a picture of a room and then calculates and stores all of the measurements right on your smartphone!

Paint Tester
If you’d like to paint a room but you’re worried that the colour might not be right then this app is for you! Just snap a shot of the room and it’ll let you try out different colours on your wall!

Whether you’re looking to hang a shelf, install new kitchen cabinets or paint your bedroom, there’s an “app for that”. Instead of lugging a bulky toolkit around to tackle a task, all you need to do is pull out your phone!