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Barrie Real Estate Market Update for September 2012

Blog by Robert & Matthew Johnston | October 9th, 2012

Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 342 units in September 2012, down 12 per cent from year-ago levels. While demand has softened a bit, much of that year-over-year decline reflects a very strong month of September last year.

Within the city of Barrie, sales activity also recorded a decrease of 12 per cent from a year earlier. The city of Barrie saw 213 residential sales in September.

One of the main factors is the lack of inventory on the market, buyers are finding a shortage of homes to pick and choose from.  Typically there would be more inventory but July & August were so good for homes sales that we are dealing with unhappy buyers waiting for homes to be listed.

Home sales in the region are still well on track to record the best annual sales figure in five years in 2012. A total of 3,721 homes have traded hands so far this year. This is up nine per cent from the same period in 2011, and marks the best first three quarters of any year since 2007.

The year-to-date average price for all homes sold via the Association’s MLS® System in September 2012 was $300,487, 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 $285,670. This was a six per cent increase compared to the same period in 2011.

Active residential listings on the Association’s MLS® System numbered 1,582 units at the end of September 2012. This was down seven per cent from the end of September 2011.

As you can see by this update, prices are up and active listings are down...If you’re thinking of selling it’s a great time to get TOP DOLLAR!