Barrie Real Estate Market Update - November 2014
Barrie & District home sales very strong in November
Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 331 units in November 2014. This was up 21.2 per cent from last November.
Within the City of Barrie sales activity rose 19.5 per cent from a year earlier. The City of Barrie saw 208 residential sales in November. A year-over-year jump of 24.2 per cent was recorded in surrounding areas, where sales activity totalled 123 units.
“Resale housing activity posted its third best showing on record for the month of November, marking a seventh consecutive month of historically strong sales,” said Jerry Hay, President of the Barrie and District Association of REALTORS®. “With just one month left to go this year, sales in 2014 are on track to hit their highest annual level since 2007 and likely the second best ever. At the same time, with some of the tightest market conditions on record this year, the average home price looks set to post an increase of almost seven per cent compared to 2013.”
Some 4,598 homes have traded hands so far this year. This stands 3.4 per cent above the same period last year and now puts activity on track to post the best annual sales figure on record after 2007.
The year-to-date average price for all homes sold via the Association’s MLS® System to the end November 2014 was $340,784, up 6.8 per cent from the same period in 2013.
The year-to-date average price figure for homes sold within the City of Barrie was $319,023. This was a 6.2 per cent increase compared to the average selling price at the same time in 2013. The year-to-date average price figure for the surrounding areas was $371,853, an increase of 7.2 per cent over the same period from last year.