March 2025 Durham Region Real Estate Update: Trends, Stats, and What’s Ahead
Welcome to the March 2025 Durham Region Real Estate Update! As we kick off spring, the housing market in Durham Region—spanning Pickering, Ajax, Whitby, Oshawa, and beyond—is buzzing with activity. Whether you’re a buyer, seller, or just keeping an eye on the market, here’s a detailed look at the latest trends, stats, and what they mean for you in this vibrant part of the Greater Toronto Area (GTA). Let’s dive in!
The Big Picture: A Market in Motion
As of March 2025, Durham Region continues to be a standout in the GTA, balancing affordability with strong demand. The past few months have set the stage for a dynamic spring market, fueled by declining interest rates and shifting buyer confidence. According to projections based on recent reports from RE/MAX and the Durham Region Association of REALTORS®, we’re seeing a market that’s heating up—but not quite at the fever pitch of a few years ago. Think of it as a steady simmer rather than a full boil.
The average home price in Durham Region for February 2025 hovered around $909,332 (based on daily updates from johnowen.realtor), and early March indicators suggest a slight uptick. Let’s call it somewhere in the $920,000-$930,000 range for now, reflecting a 1-2% month-over-month increase. This aligns with RE/MAX’s 2025 outlook, which predicts a 5% annual price increase for the region as first-time buyers and downsizers drive demand.
Key Trends Shaping March 2025
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Interest Rates Fuel Buyer Activity
The Bank of Canada’s benchmark rate sits at 3.00% as of late January (per johnowen.realtor), down from 5.00% a year ago after six consecutive cuts. With another potential cut looming on March 12, mortgage rates are trending lower, making homeownership more accessible. This is especially big news for first-time buyers, who are expected to flood the market this spring, snapping up townhouses and smaller detached homes. -
Inventory Tightens, Competition Heats Up
Inventory levels are a hot topic. February closed with 2.9 months of inventory (MOI) across Durham Region, but March is showing signs of tightening—possibly dipping closer to 2.5 MOI. Southern areas like Ajax and Whitby are even leaner, with some segments selling in under 20 days. Multiple offers are back in play, especially for properties priced below $900,000, where buyer competition is pushing sale-to-list price ratios above 101%. -
Detached Homes Lead the Charge
Detached homes remain the star of the show, with average prices climbing past $1,050,000 in February. Early March data suggests a continued upward trend, potentially hitting $1,070,000-$1,080,000. Meanwhile, condos and townhouses offer more affordable entry points—think $560,000 for condos and $860,000 for townhouses—making them a sweet spot for budget-conscious buyers. -
Affordability Draws GTA Buyers
Durham Region’s value proposition is stronger than ever. With the GTA average sale price at $1,106,050 in November 2024 (danplowman.com), Durham’s sub-$1 million average is pulling buyers from Toronto and Peel. Areas like Oshawa and Clarington are particularly hot for those seeking bang for their buck, while Whitby holds steady as a premium pick.
March 2025 Stats Snapshot
Here’s a quick look at where things stand based on the latest available data and reasonable projections for March:
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Average Sale Price: ~$920,000-$930,000 (up 1-2% from February’s $909,332)
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Sales Volume: ~750-800 homes sold (up from 739 in November 2024, per creastats.crea.ca)
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Days on Market (DOM): ~22 days (down from 24 in November 2024)
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Sale-to-List Price Ratio: 101.5%-102% (up from 101.7% in February)
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New Listings: ~1,200-1,300 (slightly up from 1,198 in November 2024)
These numbers reflect a market that’s picking up steam as spring approaches, with buyers jumping in before prices climb further.
What’s Hot in Durham Region?
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Southern Durham Dominates: Ajax, Whitby, and Pickering are seeing the fiercest competition, with detached homes routinely fetching over asking.
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Oshawa’s Affordability Play: Average prices here are closer to $850,000, making it a go-to for first-timers and investors.
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Condo Comeback: After a sluggish 2024, condos are gaining traction as buyers pivot to affordable options amid rising detached prices.
Looking Ahead: Spring 2025 Outlook
The tea leaves suggest a busy spring market. Lower borrowing costs, combined with new mortgage rules (like the increased price cap for insured mortgages and 30-year amortizations starting December 15, 2024), are set to bring more buyers off the sidelines. RE/MAX predicts 44% of Canadian markets could shift into seller’s territory by mid-2025, and Durham might just lead the GTA pack in buyer competitiveness.
For sellers, this could be a golden window. With inventory still relatively low and demand rising, listing in March or early April could maximize returns—especially if you beat the rush of spring listings. Buyers, on the other hand, might want to act fast before prices nudge higher and competition intensifies.
Your Durham Region Real Estate Partner
Navigating this market takes local know-how, and that’s where we come in. At www.mattphillipsteam.com, we’re all about helping you make smart moves in Durham Region’s real estate scene. Oh, and by the way, as a low-commission realtor, my low commission and full-service selling system will save you thousands of dollars in commissions—leaving you with extra cash for that new furniture or a victory coffee after closing. List for 1% (+co-op fee) Ready to chat? Drop us a line at 905-435-5800
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