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Barrie and District home sales set new July record
Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 542 units in July 2015, an increase of 6.5 per cent from July 2014 and a record for the month of July.
Within the City of Barrie, sales activity rose 6.1 per cent on a year-over-year basis. The City of Barrie saw 314 residential sales in July. A year-over-year increase of 17.4 per cent was recorded in surrounding areas, where sales activity totalled 250 units.
On a year-to-date basis home sales totalled 3,360 units over the first half of 2015. This was up 12.4 per cent from 2014 and marked the best start to any year on record.
“The market is arguably as strong as it’s ever been right now, with very strong demand and tight supply leading to sizeable price gains,” said the President of the Barrie and District Association of REALTORS®. “Even though overall supply is running at the lowest levels in more than a decade, sales activity is still on track to set a new annual record in 2015.”
The year-to-date average price for all homes sold via the Association’s MLS® System in 2015 was $366,291, up 7.4 per cent from the same period in 2014.
The year-to-date average price figure for homes sold within the City of Barrie was $341,684.1. This was a 6.8 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 $404,099, an increase of 8.8 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 July 2015 was $201.3 million, rising 15.0 per cent from year-ago levels. This was the fourth highest dollar volume of any month on record, and the first time dollar volumes had surpassed $200 million in the month of July.
July marked the first year-over-year decline in new listings this year. New residential listings were down 8.0 per cent from July 2014 to 737 units in July 2015.
Overall supply is currently trending at the lowest levels in more than a decade. Active residential listings on the Association’s MLS® System numbered 1,298 units at the end of July 2015, down 16.5 per cent from year-ago levels.
There were just 2.4 months of inventory at the end of July 2015 this was the lowest level for any July on record. 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 558 units in July, rising 6.9 per cent compared to July 2014. The total value of all properties sold in July 2015 was $205.7 million, up 15.5 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
