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Barrie Real Estate Market Update January 2013

Blog by Robert & Matthew Johnston | February 7th, 2013

Barrie & District home sales up in January 2013

Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 225 units in January 2013. This was an increase of three per cent from the same month in 2012.

Within the City of Barrie, however, sales activity fell 10 per cent from a year earlier. The City of Barrie saw 128 residential sales in January.

The average price for all homes sold via the Association’s MLS® System in January 2013 was $290,781, edging up one per cent from levels in 2012.

The average price figure for homes sold within the City of Barrie was $275,667. This was a one per cent decline compared to the average selling price in January 2012.

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 January 2013 was $65.4 million, up four per cent from year-ago levels.

Overall supply remains at lower levels compared to much of the past decade. Active residential listings on the Association’s MLS® System numbered 1,099 units at the end of January 2013, down 12 per cent from the end of January 2012.

There were 4.9 months of inventory at the end of January 2013. This was down from 5.7 months at the end of January 2013 and also stood well 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 229 units in January, up one per cent compared to January 2012. The total value of all properties sold in January 2013 was $67 million, down two per cent on a year-over-year basis.