media release from BDAR President, Wendy Elzner.

Home sales activity remains strong in August 

MLS® home sales activity in August 2009 was up from year-ago levels for the third consecutive month in the area served by the Barrie District Association of REALTORS® Inc. Meanwhile, active and new listings continued retreating from elevated levels.

According to statistics provided by the Association, MLS® home sales activity totalled 394 units in August 2009, jumping 12 per cent from the same month last year.

“August was another strong month for sales,” said Wendy Elzner, President of the Barrie and District Association of REALTORS®. “New listings also remain down from levels recorded last year, which continues to firm up the market.”

The total dollar value of MLS® residential property sales amounted to $103.7 million in August 2009, 11 per cent above year-ago levels.

Total MLS® sales activity in the Barrie region numbered 403 units in August, rising 12 per cent year-over-year. The total value of all MLS® properties sold in August 2009 was $106.1 million, 10 per cent above levels in August 2008.

The year-to-date MLS® residential average price for home sales in August 2009 was $262,692, down 0.7 per cent compared to the same period last year.

New residential listings numbered 608 units in August 2009 to the lowest level for this month in five years.  New listings declined 10 per cent year-over-year, making it the third double-digit decline in as many months, and the fifth consecutive month in which the number of new listings was down from year-ago levels.

The number of active residential listings on the Association’s MLS® System dropped 10 per cent year-over-year to 1,845 units at the end of August 2008. This is the third consecutive double-digit decline in the number of active listings. 

The number of months of inventory edged up to 4.7 months in August, compared to 4.1 months in July, but remains well below levels posted earlier this 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.

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