Barrie & District home sales stable in February
Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 294 units in February 2014. This was unchanged from last February.
Within the City of Barrie sales activity was down 11 per cent from a year earlier. The City of Barrie saw 175 residential sales in February.
“Home sales were back in line with year-ago levels in February following a dip in January,” said Jerry Hay, President of the Barrie and District Association of REALTORS®. “Activity was also back above the five-year average in February, and the average home price saw another big gain.”
The year-to-date average price for all homes sold via the Association’s MLS® System in February 2014 was $327,845, up nine per cent from February 2013.
The year-to-date average price figure for homes sold within the City of Barrie was $306,991. This was a seven per cent increase compared to the average selling price in February 2013.
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 February 2014 was $98.4 million, up nine per cent from year-ago levels.
New residential listings were down seven per cent from a year earlier to 499 units in February 2014.
Overall supply remains below levels seen in most of the past decade. Active residential listings on the Association’s MLS® System numbered 992 units at the end of February 2014, down 18 per cent from year-ago levels and the lowest February in more than two decades.
There were 3.4 months of inventory at the end of February 2014. This was down from 4.1 months at the end of February 2013 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 300 units in February, up just one sale compared to February 2013. The total value of all properties sold in February 2014 was $99.4 million, up nine per cent on a year-over-year basis.
The average price information quoted can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods, or account for price differentials between geographical areas.
The Barrie and District Association of REALTORS® Inc. 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. The Association provides continuing education, Multiple Listing Service® (MLS®), statistical information, and many other services to its members.