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Barrie Real Estate Market Update for August 2012

Blog by Robert & Matthew Johnston | September 14th, 2012

Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 406 units in August 2012, edging up one per cent from year-ago levels. This was the eighth consecutive year-over-year gain.  A total of 3,379 homes have traded hands so far this year. This is up 12 per cent from the same period in 2011.

The year-to-date average price for all homes sold via the Association’s MLS® System in August 2012 was $301,454, up four per cent from levels at the same time last year.  The year-to-date average price figure for homes sold within the City of Barrie was $286,852. This was a seven per cent increase compared to the same period in 2011.

New residential listings were down seven per cent from a year earlier to 608 units in August 2012.  Overall supply levels have generally been trending downward since last summer and this trend continued to play out in August. Active residential listings on the Association’s MLS® System numbered 1,544 units at the end of August 2012. This was down 18 per cent from the end of August 2011.

There were 3.8 months of inventory at the end of August 2012, down from 4.7 months at the end of August 2011. 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.

Once again we’re seeing a Seller’s Market as inventory remains LOW and Buyers are paying top dollar! Contact us today for FREE Market Evaluation.