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Barrie Real Estate Market Update for November 2011

Blog by Robert & Matthew Johnston | December 14th, 2011

Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. came in above year-ago levels for the fifth consecutive month in November 2011.

Home sales numbered 321 units in November, an increase of 18 per cent compared to the same month last year. Momentum continues to improve. On a seasonally adjusted basis, sales climbed to the highest level since April 2010.  Within the city of Barrie, sales activity was on par with the overall trend for the region. The city of Barrie saw 207 residential sales in November, also up 18 per cent from one year earlier.  Some 4,038 homes have traded hands so far this year. This is up three per cent from levels in the first 11 months of 2010.

The year-to-date average price for all homes sold via the Association’s MLS® System in the first 11 months of 2011 was $287,439, 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 $269,124. This was also a two per cent increase compared to November 2010.

The dollar value of all home sales in November 2011 was $90.1 million, up 21 per cent from year-ago levels.  New residential listings edged up one per cent from a year earlier to 459 units in November. Active residential listings on the Association’s MLS® System numbered 1,601 units at the end of November 2011, down three per cent on a year-over-year basis.

There were 4.5 months of inventory at the end of November 2011 on a seasonally adjusted basis, down from 4.7 months in October. 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 333 units in November, up 18 per cent compared to November 2010. The total value of all properties sold in November 2011 was $94.2 million, up 24 per cent from November 2010.

The Barrie and District Association of REALTORS® Inc. covers a geographical area that includes the City of Barrie and part or all of the surrounding townships, including Springwater, Oro-Medonte, Innisfil, Essa, Bradford-West Gwillimbury and Clearview. The Association provides continuing education, Multiple Listing Service® (MLS®), statistical information, and many other services to its members.