Barrie & District Home Sales Decline in November

Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 273 units in November 2013. This was down eight per cent from November 2012. Within the City of Barrie, sales activity showed 174 residential units which was down seven per cent from a year earlier levels.

Home sales stepped back in November on the heels of a record month of October, marking an anomaly in a resale housing market that’s otherwise been solid since the spring. Some 4,447 homes have traded hands in the region so far this year making This is the second best January to November sales figure on record. (2007 was the best year in history).

The year-to-date average price for all homes sold via the Association’s MLS® System in November 2013 was $319,179, an increase of about seven per cent from the same period in 2012. The year-to-date average price for homes sold within the City of Barrie was $300,521 which represented a five per cent increase over the average selling price in the same period last year. 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 November 2013 was $84.3 million, down five per cent from year-ago levels. New residential listings in November 2013 edged up two per cent from a year earlier to 423 units, however, overall supply remains below levels seen in most of the past decade. Active residential listings on the Association’s MLS® System numbered 1,122 units at the end of November 2013, down six per cent from a year earlier. This level represented approximately 4.1 months of inventory which was relatively unchanged from the end of November 2012 and stood below the long-run average for this time of year as well. 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 286 units in November, down five per cent compared to November 2012. The total value of all properties sold in November 2013 was $87.4 million, down two per cent on a year-over-year basis.

These statistics are based on information made available to the members of The Barrie and District Association of REALTORS® Inc., which covers a geographical area that includes the City of Barrie and part or all of the surrounding townships, including Springwater, Oro-Medonte, Innisfil, Essa, Bradford-West Gwillimbury and Clearview.

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Candi Grant

Candi Grant

Sales Representative
CENTURY 21 B.J. Roth Realty Ltd., Brokerage*
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