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Barrie Real Estate Market Update for April 2013

Blog by Robert & Matthew Johnston | May 9th, 2013

Home sales up in April

Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 514 units in April 2013, rising five per cent from last April.

Within the City of Barrie sales activity edged down by two sales from a year earlier. The City of Barrie saw 308 residential sales in April.

“Resale housing activity in the City of Barrie was little changed on a year-over-year basis in April, while sales in surrounding communities improved markedly,” said Wendy Elzner, President of the Barrie and District Association of REALTORS®. “In fact, it was actually a record month of April for overall home sales in the townships surrounding the City of Barrie.”

The year-to-date average price for all homes sold via the Association’s MLS® System in April 2013 was $311,438, up three per cent from the same period in 2012.

The year-to-date average price figure for homes sold within the City of Barrie was $297,318. This was a four 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 April 2013 was $167.2 million, up 11 per cent from year-ago levels.

New residential listings were up three per cent from a year earlier to 890 units in April 2013.

Overall supply remains at lower levels compared to much of the past decade. Active residential listings on the Association’s MLS® System numbered 1,627 units at the end of April 2013, down four per cent from the end of April 2012.

There were 3.2 months of inventory at the end of April 2013. This was down from 3.5 months at the end of April 2012 and also stood below the long-run average for this time of the year. 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 526 units in April, up six per cent compared to April 2012. The total value of all properties sold in April 2013 was $170.5 million, up 11 per cent on a year-over-year basis.