RE/MAX Ability Real Estate Broker Discusses Trends in the Durham Condo Market for 2013.

As prices for detached homes continue to rise in 2013, real estate broker Mike Bouma of the RE/MAX Ability Real Estate Ltd. Brokerage firm reveals the current directions for the Durham condo market in 2013.

Although the residential real estate market in Canada has been slowed down by the changes in mortgage lending restrictions and guidelines introduced in August, 2012, people’s desire to own a home hasn’t changed a bit. Real estate broker Mike Bouma of RE/MAX Ability Real Estate Ltd. Brokerage believes that, as long as cost of mortgage financing remains low, the residential housing market will continue to attract financially-stable first-time buyers in 2013.

“We are already seeing greater sales activity in the condo market as affordable housing prices in areas such as Pickering, Ajax, Clarington, Durham and Oshawa are attracting a large share of first-time buyers”, says Bouma, “and the continuation of low interest rates, as well as the stronger economic growth forecasted for 2013 will stay supportive for the prices and residential real estate activity”.

In the Durham region and other residential areas, there’s a wide gap developing between the more affordable condo market and the rest of the residential housing market. While the average price for detached homes rose by 6%, condo prices have dropped by almost 1%, attracting a larger number of first-time buyers who have decided to purchase their own home, but want to avoid the high costs and the upkeep required by the average detached home with a yard. Condos also appeal to retirees and singles looking to trade their house and yard for added convenience and luxury.

“In regions like Bowmanville or Pickering, the selection of condos for sale in 2013 is great!”, says Mike Bouma, whose local condo search website offers listings for Bowmanville condos, as well as condos in Pickering, Ajax, Oshawa, Clarington and Durham. Home buyers and sellers can search for properties by building, city, number of bedrooms, map and more, also being able to find the information they need on previously sold units and floorplans to some buildings.

About RE/MAX Ability
The RE/MAX Ability Real Estate Ltd. Brokerage grants home buyers and sellers access to the newest condo listings in Pickering, Ajax, Whitby, Oshawa, Clarington and Durham. The company also offers free condo evaluation, as well as specialized assistance for first-time buyers interested in purchasing a condo in the listed areas.

Contact Info:
Name: Mike Bouma
Email: Send Email
Organization: RE/MAX Ability
Address: 379 Bond Street West Suite 300, Oshawa, Ontario L1J 8R7, Canada
Phone: 905-434-7777

Release ID: 7174