Back Home
Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 451 units in March 2015. This was an increase of 16.5 per cent from March 2014.
Within the City of Barrie, sales activity rose 15.5 per cent on a year-over-year basis. The City of Barrie saw 275 residential sales in March. A year-over-year increase of 18.1 per cent was recorded in surrounding areas, where sales activity totalled 176 units.
On a year-to-date basis home sales totalled 1,004 units over the first quarter of 2015. This is up 14.7 per cent from the same period in 2014.
“The market remains very active, with March sales hitting their second highest level on record for that month,” said the President of the Barrie and District Association of REALTORS®. “With months of supply still running near record lows, sellers have the upper hand 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 $348,062, up 3.7 per cent from the same period in 2014.
The year-to-date average price figure for homes sold within the City of Barrie was $323,689. This was a 2.4 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 $385,018, an increase of 5.7 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 March 2015 was $159.5 million, rising 19.3 per cent from year-ago levels. This was a record for the month of March and the first time the dollar volume had broken $150 million in this month.
March saw another increase in new supply. New supply has risen by double-digits on a year-over-year basis in 10 of the past 11 months. New residential listings rose 15.7 per cent from March 2014 to 819 units in March 2015.
Overall supply remains below levels from most of the past decade. Active residential listings on the Association’s MLS® System numbered 1,234 units at the end of March 2015, up 3.3 per cent from year-ago levels.
There were 2.7 months of inventory at the end of March 2015, well below levels 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 462 units in March, rising 17.3 per cent compared to March 2014. The total value of all properties sold in March 2015 was $163.1 million, up 20.8 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.
