Barrie Real Estate Market Update for August 2011
Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. were up strongly from year-ago levels for the second consecutive month in August 2011. Home sales numbered 401 units in August 2011, an increase of 22 per cent compared to the same month last year. The large year-over-year increase reflects not only weak demand last summer, but also the current strength of home sales in the region. Within the city of Barrie, gains were even stronger, with home sales jumping 51 per cent from year-ago levels to 269 units in August. The year-to-date average price for all homes sold via the Association’s MLS® System in the first eight months of 2011 was $288,882, up three per cent from the same period last year. The year-to-date average price figure for homes sold within the City of Barrie was $268,455. This was up one per cent on a year-over-year basis.
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 total dollar value of all home sales in August 2011 amounted to $120.3 million, a 24 per cent increase from year-ago levels. New residential listings edged up one per cent from a year earlier to 655 units in August. The number of active residential listings on the Association’s MLS® System was 1,876 at the end of August 2011, up two per cent on a year-over-year basis. There were 4.9 months of inventory at the end of August 2011 on a seasonally adjusted basis, which was unchanged compared to July. 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. Total sales activity in the Barrie region numbered 416 units in August, up 23 per cent compared to August 2010. The total value of all properties sold in August 2011 was $124.2 million, up 25 per cent from August 2010.
Based on these Stats we're anticipating a great Fall Market - If you're thinking of Buying or Selling, contact us today!