June another strong month for Barrie & District home sales

June another strong month for Barrie & District home sales

Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 515 units in June 2013, on par with June 2012.

Within the City of Barrie sales activity edged down just one per cent (four sales) from a year earlier. The City of Barrie saw 310 residential sales in June.

“Home sales in the Barrie region have only topped the 500 mark in the month of June a handful of times in history, so we’re looking at some very strong levels of activity right now, and that’s a continuation from an equally strong month of May,” said Wendy Elzner, President of the Barrie and District Association of REALTORS®. “Rising demand has been outpacing supply, and increasing competition among buyers has resulted in an acceleration in price growth in recent months.”

The year-to-date average price for all homes sold via the Association’s MLS® System in June 2013 was $317,727, up five per cent from the same period in 2012.

The year-to-date average price figure for homes sold within the City of Barrie was $301,089. This was also a five per cent increase compared to the average selling price in the same period last year.

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 June 2013 was $168.7 million, up nine per cent from year-ago levels.

New residential listings edged up one per cent from a year earlier to 735 units in June 2013.

Overall supply remains at lower levels compared to much of the past decade. Active residential listings on the Association’s MLS® System numbered 1,564 units at the end of June 2013, edging down one per cent from the end of June 2012.

There were three months of inventory at the end of June 2013. This was down slightly from 3.1 months at the end of June 2012 and also stood below the long-run average for this time of 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 521 units in June, down three per cent compared to June 2012. The total value of all properties sold in June 2013 was $170 million, up seven per cent on a year-over-year basis.

Important information

The average price information quoted can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods, or account for price differentials between geographical areas.

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.