The latest market report is out from the Barrie and District Association of Realtors and it really hammers home the point that now is the time to sell! Pay particular attention to the the months of inventory. A balanced market is described as 6 months of inventory, today we sit at only 3.8 which in laymens terms means their are more buyers looking for home then their are homes available. The doesn`t mean it`s not a good time to buy, their are still a lot of beautifull home available on there, but it does mean if you`ve been thinking about selling you need to get your home on the market NOW! The buyers are starved for choice, so if your home is priced correctly it will sell quickly!
Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 418 units in March, rising 10 per cent from year-ago levels.
Within the city of Barrie, sales activity was up by less than the overall trend for the region. The city of Barrie saw 250 residential sales in March, just one sale more than in March 2011.
On a year-to-date basis, sales activity was running 17 per cent ahead of the first three months of 2011, and stood above the same period in all other years with the exception of 2007.
“Demand eased up a little in March from the record setting pace we saw in February, but nevertheless remained very strong,” said Walter Doret, President of the Barrie and District Association of REALTORS®. “The recent jump in demand has been drawing down the number of properties for sale, which is resulting in tighter market conditions and continued upward pressure on prices.”
The year-to-date average price for all homes sold via the Association’s MLS® System in March 2012 was $298,262, up seven per cent from levels at the same time last year.
The year-to-date average price figure for homes sold just within the City of Barrie was $281,897. This was a seven per cent increase compared to the same period in 2011.
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 2012 was $125.9 million, up 17 per cent from year-ago levels.
New residential listings were down four per cent from a year earlier to 778 units in March 2012.
Overall supply levels have been trending downward since the end of last summer. Active residential listings on the Association’s MLS® System numbered 1,501 units at the end of March 2012. This was down 13 per cent from the end of March 2011.
There were 3.8 months of inventory at the end of March 2012 on a seasonally adjusted basis, up from 3.5 months at the end of February. 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 426 units in March, up 10 per cent compared to March 2011. The total value of all properties sold in March 2012 was $129.2 million, up 19 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.
The information contained in this report has been prepared by The Canadian Real Estate Association, in co-operation with The Barrie & District Association of REALTORS® Inc.. The information has been drawn from sources deemed to be reliable, but the accuracy and completeness of the information is not guaranteed. In providing this information, neither The Canadian Real Estate Association nor The Barrie & District Association of REALTORS® Inc. assumes any responsibility or liability. Copyright© 2012 The Canadian Real Estate Association. All rights reserved. Reproduction in whole or in part is prohibited without written permission.