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District Association of REALTORS® Inc. numbered 335 units in February 2015. This was an increase of 13.9 per cent from February 2014.
Within the City of Barrie, sales activity rose 17.1 per cent on a year-over-year basis. The City of Barrie saw 205 residential sales in February. A year-over-year increase of 9.2 per cent was recorded in surrounding areas, where sales activity totalled 130 units.
“The market has been quite active to start the year, with sales last month hitting their third best February level on record behind 2012 and 2002,” said the President of the Barrie and District Association of REALTORS®. “With months of supply running near record lows, sellers are in the driver’s seat heading into the busy spring market, and prices are likely to continue to push higher.”
The year-to-date average price for all homes sold via the Association’s MLS® System in 2015 was $343,509, up 4.8 per cent from the same period in 2014.
The year-to-date average price figure for homes sold within the City of Barrie was $319,152. This was a four per cent increase compared to the year-to-date average selling price in 2014. The year-to-date average price figure for the surrounding areas was $379,553, an increase of 6.6 per cent from the year-to-date average selling price in 2014.
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 2015 was $116 million, rising 18.2 per cent from year-ago levels. This was a record for the month of February.
February saw another increase in new supply. New supply has risen by double-digits on a year-over-year basis in nine of the past 10 months. New residential listings rose 23.4 per cent from February 2014 to 616 units in February 2015.
Overall supply remains below most of the past decade. Active residential listings on the Association’s MLS® System numbered 1,036 units at the end of February 2015, up 4.4 per cent from year-ago levels.
There were 3.1 months of inventory at the end of February 2015. This was flirting with a record low 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 352 units in February, rising 17.3 per cent compared to February 2014. The total value of all properties sold in February 2015 was $119 million, up 20.1 per cent on a year-over-year basis.
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.
