Barrie & District February RE Market
Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 294 units in February 2013. While this stood roughly in line with both the five and 10-year averages for February sales in the region, it nevertheless resulted in a sizeable (-21 per cent) year-over-year decline due to the strength of activity in the same month last year
Within the City of Barrie sales activity fell 19 per cent from a year earlier. The City of Barrie saw 197 residential sales in February. While buyer activity was higher than normal, inventory numbers did not support this activity
The year-to-date average price for all homes sold via the Association’s MLS® System in February 2013 was $299,661, edging up one per cent from the same period in 2012.
The year-to-date average price figure for homes sold within the City of Barrie was $287,583. This was a two 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 February 2013 was $90.1 million, down 19 per cent from year-ago levels.
New residential listings declined 19 per cent from a year earlier to 535 units in February 2013.
Overall supply remains at lower levels compared to much of the past decade. Active residential listings on the Association’s MLS® System numbered 1,214 units at the end of February 2013, down 11 per cent from the end of February 2012.
There were 4.1 months of inventory at the end of February 2013. This was up from 3.7 months at the end of February 2012 but stood 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 299 units in February, down 21 per cent compared to February 2012. The total value of all properties sold in February 2013 was $91.4 million, down 19 per cent on a year-over-year basis.