Barrie Real Estate Market Update for September 2011
Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. came in well above year-ago levels for the third consecutive month in September 2011, and stood on par with some of the strongest September sales figures on record. Home sales numbered 387 units in September 2011, an increase of 17 per cent compared to the same month last year. Within the city of Barrie, gains were in line with the overall trend for the region. The city of Barrie saw 243 residential sales in September, up 19 per cent from one year earlier. The year-to-date average price for all homes sold via the Association’s MLS® System in the first nine months of 2011 was $289,254, up two per cent from the same period last year. The year-to-date average price figure for homes sold within the City of Barrie was $269,258. This was also a two per cent increase compared to September 2010.
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 September 2011 was $113 million, up eight per cent from year-ago levels. New residential listings edged down two per cent from a year earlier to 655 units in September. The number of active residential listings on the Association’s MLS® System was 1,693 at the end of September 2011, down 12 per cent on a year-over-year basis. There were 4.3 months of inventory at the end of September 2011 on a seasonally adjusted basis, down from 4.8 months in August. This was the tightest balance between supply and demand since March 2010. 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 types of properties in the Barrie region numbered 397 units in September, up 17 per cent compared to September 2010. The total value of all properties sold in September 2011 was $115 million, up seven per cent from September 2010.
Based on these Stats we're anticipating a great Fall Market - If you're thinking of Buying or Selling, contact us today!