Barrie Real Estate Market Update - December 2015
On a year-to-date basis home sales totalled 5,006 units over the first 11 months of 2015, the first time activity had broken the 5,000 mark before the end of the year. This was up 8.9 per cent from 2014 and sets Barrie up for the best year on record.
“2015 has been a record year for the Barrie and District housing market,” said Bruce Shipley, President of the Barrie and District Association of REALTORS®. “Home sales will set a new all-time record this year, and that strong demand has drawn listings off the market at such a rate that inventories are sitting near record lows heading into 2016. Of course, that’s also led to very strong price growth this year.”
The year-to-date average price for all homes sold via the Association’s MLS® System in 2015 was $373,712, up 9.7 per cent from the same period in 2014.
The year-to-date average price figure for homes sold within the City of Barrie was $345,288. This was an 8.2 per cent increase compared to the year-to-date average selling price in 2014.
The year-to-date average price figure for the surrounding areas was $412,095, an increase of 10.8 per cent from the year-to-date average selling price in 2014.
Overall supply is currently trending at the lowest levels in more than a decade. Active residential listings on the Association’s MLS® System numbered 899 units at the end of November 2015, down 20.2 per cent from year-ago levels.
There were just 2.5 months of inventory at the end of November 2015, down from 3.4 months a year earlier and 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.
The Barrie Real Estate Market will continue strong into 2016 - Seller's take advantage before the Spring Market - Inventory is LOW & there's lots of Buyers waiting! Contact "The Johnston Team" today for a FREE Market Evaluation - 705.795.4107