September Market Report for Barrie and Surrounding Areas

Barrie & District home sales rise in September

Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 384 units in September 2013. This was an increase of 12 per cent from last September.

Within the City of Barrie sales activity was up six per cent from a year earlier. The City of Barrie saw 226 residential sales in September.

“Home sales in September came in above both the five and 10-year averages for the month,” said Wendy Elzner, President of the Barrie and District Association of REALTORS®. “Some 3,780 homes have traded hands in the region so far this year. That’s the best year-to-date sales figure in six years, and stands tied with 2005 for the second highest level on record for activity in the first three quarters of the year.”

The year-to-date average price for all homes sold via the Association’s MLS® System in September 2013 was $320,233, up seven per cent from the same period in 2012.

The year-to-date average price figure for homes sold within the City of Barrie was $301,215. This was a five per cent increase compared to the average selling price in the same period last year.

The Barrie & District Association of REALTORS® cautions that over a period of time, the use of average price information can be useful in establishing trends, but it does not indicate actual prices in widely divergent areas or account for price differentials between geographical areas.

The dollar value of all home sales in September 2013 was $128.3 million, up 29 per cent from year-ago levels.

New residential listings rose five per cent from a year earlier to 619 units in September 2013.

Overall supply remains below levels seen in most of the past decade. Active residential listings on the Association’s MLS® System numbered 1,462 units at the end of September 2013, down eight per cent from levels at the end of September 2012.

There were 3.8 months of inventory at the end of September 2013. This was down from 4.6 months at the end of September 2012 and stood well below the long-run average for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

Sales of all property types in the Barrie region numbered 394 units in September, rising 12 per cent compared to September 2012. The total value of all properties sold in September 2013 was $129.8 million, up 25 per cent on a year-over-year basis.

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