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Barrie Real Estate Market Update for April 2014

Blog by Robert & Matthew Johnston | May 10th, 2014

Average April for Barrie & District home sales

Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 471 units in April 2014. This was down eight per cent from last April.

Within the City of Barrie sales activity was down seven per cent from a year earlier. The City of Barrie saw 286 residential sales in April. A year-over-year decrease of 10 per cent was recorded in surrounding areas, where sales activity totalled 185 units.

“Last April saw a very active market with more than 500 properties trading hands, so it’s not surprising to see activity down a bit this year,” said Jerry Hay, President of the Barrie and District Association of REALTORS®. “Overall it was an average month of April for sales whether compared to the past five or 10 years, and with supply continuing to trend lower, it continues to be a seller’s market.”

The year-to-date average price for all homes sold via the Association’s MLS® System to April 2014 was $335,222, up eight per cent from the same four months last year.

The year-to-date average price figure for homes sold within the City of Barrie was $316,813. This was a seven per cent increase compared to the average selling price in April 2013. The year-to-date average price figure for the surrounding areas was $362,613, an increase of nine per cent.

New residential listings declined four per cent from a year earlier to 859 units in April 2014.

Overall supply remains below levels seen in most of the past decade. Active residential listings on the Association’s MLS® System numbered 1,396 units at the end of April 2014, down 14 per cent from year-ago levels and the lowest April in more than a decade.

There were three months of inventory at the end of April 2014. This was down slightly from 3.2 months at the end of April 2013 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.