Barrie Real Estate Market Update for November 2013 - The Johnston Team
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 last November.
Within the City of Barrie sales activity was down seven per cent from a year earlier. The City of Barrie saw 174 residential sales in November.
“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,” said Wendy Elzner, President of the Barrie and District Association of REALTORS®. “Some 4,447 homes have traded hands in the region so far this year. This is the second best January to November sales figure on record after 2007.”
The year-to-date average price for all homes sold via the Association’s MLS® System in November 2013 was $319,179, up seven per cent from the same period in 2012.
The year-to-date average price figure for homes sold within the City of Barrie was $300,521. This was a five per cent increase compared to the average selling price in the same period last year.
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 November 2013 was $84.3 million, down five per cent from year-ago levels.
New residential listings edged up two per cent from a year earlier to 423 units in November 2013.
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 levels at the end of November 2012.
There were 4.1 months of inventory at the end of November 2013. This was little changed from four months at 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.