durhamregion.com This Week | Thursday, April 14, 2022 | 6 The tolls are gone on two highways in Durham Region. The provincial government announced the tolls would be removed on highways 412 and 418 on Tuesday, April 5. The highways connect Hwy. 401 to Hwy. 407. The tolls have been controversial in Durham since the highways opened. They were opposed by local politicians and business groups and people avoided using on the highways, instead travelling on side roads. The highways were the only tolled north-south highways in Ontario. Highway 412 runs through Whitby, while the 418 is in Clarington. The toll removal was announced by the provincial government on Feb. 18. Oshawa MPP Jennifer French has been working for years to have the tolls removed. In a statement, French said, "In 2018, I introduced Bill 43 - the Freeing Highways 412 and 418 Act. For 4 years, I have never stopped advocating for the removal of these unfair tolls, because this issue is too important to our community. Workers, students, businesses, and folks across the Durham Region have worked hard to make this happen. Our work has paid off and these provincial highways will finally be free." In a statement, Durham Region said removing the tolls will promote economic activity, supporting local businesses and residents who rely on these highways for the movement of people and goods. Another benefit will be reducing congestion on local roads. Durham Regional Chairman John Henry said in a statement, "One of the region's focal points continues to be economic recovery from the COVID-19 pandemic. A reliable and affordable road network that connects Durham Region to the rest of the GTHA, and Ontario, is a vital piece of a strong economy." Clarington Mayor Adrian Foster said, "I want to thank the Province for listening to residents and removing these tolls that would impact many families. In Clarington, Hwy. 418 is a main artery providing easy access to our community and making it attractive for new business investment and new residents. By removing this monetary burden, we are putting more money into our residents' pockets, ensuring that families can take road trips and enjoy the Region following a difficult two years." Whitby Mayor Don Mitchell said, "Today, with the removal of tolls on Hwys. 412 and 418, the Town of Whitby has become an even better place to live, work and play. On behalf of Whitby Town Council, I thank the Premier and Province for taking action on an issue we have been passionate about for years. I look forward to seeing the positive impact this will have on residents' quality of life by reducing traffic congestion, improving access to the 407 for commuters, and making it easier to access and do business in our Downtowns. I also look forward to seeing how the toll-free roads help generate economic value in our community by enabling the realization of the full marketability of employment lands located along the 412." TOLLS REMOVED FROM TWO DURHAM HIGHWAYS NEWS The Province of Ontario has removed tolls from highways 412 and 418 in Durham Region. Ontario Premier Doug Ford was in Whitby on April 5 to change the signs. Premier Doug Ford Twitter photo People love to talk about real estate, be it the house that sold down the street or musing about where the market is going. We have been in a sellers' market for years, but is that changing? Recently, the talk has been about a slowdown, a market crash or a market chill. Let's look at what is happening in Durham Region. The numbers are in for our communities and here is where the average home prices have moved to for detached homes. Town Avg Mar/22 Avg Feb/22 difference in average price Oshawa $1,100,433 $1,218,317 -$117,884 Clarington $1,150,582 $1,257,257 -$107,075 Whitby $1,402,08 $1,547,593 -$145,506 This is a bit of good news. Good news for buyers who have an opportunity to purchase at lower prices than they would have a month or two ago. However, sellers need not be overly disappointed: since Jan. 1, Oshawa homes have increased $65,000, Clarington is up $41,000 and Whitby has jumped $143,000. As we move through April, we will see if this trend of prices adjusting downward will continue. What we are seeing from a "boots on the ground" perspective is more homes being sold with conditions. In a recent week, 49 homes sold conditionally, with half of them having finance and home-inspection conditions. The other metric I look at is how many homes we sold last month and are available compared to the previous year. March saw 292 homes sold in Oshawa, compared to 413 in March, 2021. The numbers are down dramatically, however -- 2021 was the busiest year the Real Estate Board has ever experienced. At the end of March, Oshawa had 179 detached homes for sale; last year, we had 171. What this shows is a bit of a slowdown in buyer activity with a similar number of for-sale signs. No one can predict the future when it comes to the direction the market is heading, but given that inventory is substantial and the number of buyers is slowing, this is proving to be the best month to buy a home in the past year or so. Looking at affordability, when you look a bit deeper into where the deals are, semi-detached homes in Oshawa are seeing prices we have not seen for months. The average selling price for a semi-detached home in Oshawa last month was $853,000, and of the 23 for sale recently, eight were listed below $600,000. My feeling is that April will be a busy month. Something that typically follows a rise in mortgage rates is a flurry of sales. This comes when buyers have pre-approved mortgages locked in at a lower rate that will expire if not used. Getting a home with a lower mortgage rate tends to cause buyers to be a bit more active in their search. If you are considering buying a home, now is an excellent time to invest in Durham Region. If you are a seller, the prices are super high to cash out or to fund your next move. All in all, this market is excellent. Lindsay Smith is with Keller Williams Energy Brokerage and has been a Durham real estate broker for 36 years. He lives in Oshawa and can be reached at lindsay@buyselllove.ca. FINALLY, AN OPPORTUNITY FOR BUYERS IN OSHAWA, WHITBY AND CLARINGTON OPINION LINDSAY SMITH SAYS 'NOW IS AN EXCELLENT TIME TO INVEST IN DURHAM REGION' LINDSAY SMITH Column