Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 360 units in March 2013. This was a decline of 14 per cent from last March.Within the City of Barrie sales activity was down by a smaller 11 per cent from a year earlier.
The City of Barrie saw 222 residential sales in March.“Resale housing activity has been cruising at a lower altitude since last November, and that trend continued in March with the year-over-year decline reflecting a comparison to stronger levels of demand early last year,” said Wendy Elzner, President of the Barrie and District Association of REALTORS®. “Having said that, the market remains very well balanced, which continues to support modest price growth.”
The year-to-date average price for all homes sold via the Association’s MLS® System in March 2013 was $303,389, up two per cent from the same period in 2012.The year-to-date average price figure for homes sold within the City of Barrie was $292,069. This was a four 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 March 2013 was $111.2 million, down 12 per cent from year-ago levels.New residential listings declined six per cent from a year earlier to 732 units in March 2013.Overall supply remains at lower levels compared to much of the past decade. Active residential listings on the Association’s MLS® System numbered 1,427 units at the end of March 2013, down five per cent from the end of March 2012.
There were four months of inventory at the end of March 2013. This was up from 3.6 months at the end of March 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 367 units in March, down 14 per cent compared to March 2012. The total value of all properties sold in March 2013 was $112.8 million, down 13 per cent on a year-over-year basis.