Barrie Real Estate Market – March 2014

Barrie Real Estate Market - March 2014

Overall Canada’s Residential Real Estate Market

According to CBC News, improving weather is sparking a spring pickup in Canada’s residential real estate market. The latest House Price Survey, released Tuesday, April 8, found that most regions showed healthy year-over-year price growth, with the average price of a home in Canada rising between 2.5 per cent and 5.4 per cent.

 

Barrie & District Real Estate Market March 2014Summary of Barrie & District Real Estate Market

Home Sales Activity 387 homes

Average Price of $335,607

 

 

 

 

 

 

 

Barrie Real Estate Market March 2014Summary of Barrie Real Estate Market

Home Sales Activity 238 homes

Average Price of $316,028

 

 

 

 

 

 

 

house_calculator_pc_800_clrMortgage Rates

Slow economic growth is the new norm and will require central bankers to keep interest rates low for longer than they would have in the past, Bank of Canada governor Stephen Poloz said Tuesday.

 

 

 

 

“Home sales in the Barrie region are heating up while supply continues to fall, and that’s giving seller’s even more of an advantage in negotiations,” said Jerry Hay, President of the Barrie and District Association of REALTORS®. “Historically tight market conditions are being reflected in strong price growth heading into the busiest time of the year which is traditionally April, May, and June.”

Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 387 units in March 2014. This was up eight per cent from last March.  Within the City of Barrie sales activity was up seven per cent from a year earlier.  The City of Barrie saw 238 residential sales in March.

The year-to-date average price for all homes sold via the Association’s MLS® System in March 2014 was $335,607, up 11 per cent from March 2013. The year-to-date average price figure for homes sold within the City of Barrie was $316,028. This was an eight per cent increase compared to the average selling price in March 2013.

Overall supply remains below levels seen in most of the past decade. Active residential listings on the Association’s MLS® System numbered 1,195 units at the end of March 2014, down 16 per cent from year-ago levels and the lowest March in more than a decade. Sales of all property types in the Barrie region numbered 394 units in March, up seven per cent compared to March 2013. The total value of all properties sold in March 2014 was $134.9 million, up 20 per cent on a year-over-year basis.

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