Barrie & District home sales up in January
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.
“Resale housing activity for the region as a whole had good start to the year, with activity posting the best month of January in five years,” said Wendy Elzner, President of the Barrie and District Association of REALTORS®. “Digging a little deeper, however, we find some pretty divergent trends. Within the City of Barrie we saw a continuation of the more moderate levels of demand we were seeing in the final months of 2012, but this was more than offset by a surge in activity in surrounding areas, which actually set an all-time record for the month of 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.
New residential listings rose six per cent from a year earlier to 592 units in January 2013.
Overall supply remains at lower levels compared to much of the past decade. Active residential listings on the Association’s MLS® System numbered 1,099 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.
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.