Barrie Real Estate Market Update – August 2015

As many of you are already aware, houses that come up for sale in the Barrie area tend to sell very quickly and quite frequently in competing offers.   Barrie’s market is a lot different from the GTA, where competing offers does not get you $30,000+ over list price but you do get over list price by a few hundred to a couple thousand dollars.   If your house shows well, is priced right, then the chances are you will be sold very quickly.
 
According to BREB, 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.
 
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 Bruce Shipley, 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.
 
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.
 
 
Brought to your by Barrie Real Estate Board