Barrie Real Estate Market update for March 2012
Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 418 units in March, rising 10 per cent from year-ago levels.
Within the city of Barrie, sales activity was up by less than the overall trend for the region. The city of Barrie saw 250 residential sales in March, just one sale more than in March 2011. On a year-to-date basis, sales activity was running 17 per cent ahead of the first three months of 2011, and stood above the same period in all other years with the exception of 2007.
The year-to-date average price for all homes sold via the Association’s MLS® System in March 2012 was $298,262, up seven per cent from levels at the same time last year. The year-to-date average price figure for homes sold just within the City of Barrie was $281,897. This was a seven per cent increase compared to the same period in 2011.
The dollar value of all home sales in March 2012 was $125.9 million, up 17 per cent from year-ago levels. New residential listings were down four per cent from a year earlier to 778 units in March 2012.
Overall supply levels have been trending downward since the end of last summer. Active residential listings on the Association’s MLS® System numbered 1,501 units at the end of March 2012. This was down 13 per cent from the end of March 2011.
There were 3.8 months of inventory at the end of March 2012 on a seasonally adjusted basis, up from 3.5 months at the end of February. 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 426 units in March, up 10 per cent compared to March 2011. The total value of all properties sold in March 2012 was $129.2 million, up 19 per cent on a year-over-year basis .