Barrie Real Estate Market Update – January 2014

Barrie Real Estate Market Update - January 2014

According to The Globe and Mail, the pace of housing starts slowed in January compared with December, Canada Mortgage and Housing Corp. said.

 

 

 

 

Barrie Real Estate Market January 2014

Summary of Barrie & District Real Estate Market

Home Sales Activity 194 homes

Average Price of $317,546

Summary of Barrie Real Estate Market

Home Sales Activity 106 homes

Average Price of $292,310

 

 

Summary of 5-year fixed mortgage rate (special offers)

RBC 3.69 per cent

CIBC 3.69 per cent

TD Canada Trust 3.69  per cent

BMO 3.69 per cent

Scotiabank 3.49 per cent.

 

“Home sales kicked off the year in line with the five-year average for January, but that was still a significant downshift from most of the past year,” said Jerry Hay, President of the Barrie and District Association of REALTORS®. “That said, the symmetrical sharp declines in both sales and new supply suggest that this was mostly a weather story, in which case we can expect many of those buyers and sellers will have come out of hibernation in February.”

Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 194 units in January 2014. This was a decline of 14 per cent from last January’s six-year high. Within the city of Barrie sales activity was down 17 per cent from a year earlier. The City of Barrie saw 106 residential sales in January.

The average price for all homes sold via the Association’s MLS® System in January 2014 was $317,546, up 9 per cent from January 2013. The average price figure for homes sold within the City of Barrie was $292,319. This was a 6 per cent increase compared to the average selling price in January 2013.

Overall supply still remains low, active residential listings on MLS numbered 919 units at the end of January 2014, down 16 per cent from levels at the end of January last year and the lowest January since 2000. Sales of all property types in the Barrie region numbered 200 units in January, down 13 per cent compared to January 2013.

TD Canada Trust now has a posted discounted rate of 3.69 per cent for its five-year fixed mortgages, down from the rate of 3.79 per cent that had been in effect since August. BMO, meanwhile, lowered a number of its rates between 10 and 20 basis points, including its discounted five-year fixed rate to 3.69 per cent from 3.89 per cent. Scotiabank lowered its discounted five-year closed fixed term mortgage 10 basis points to 3.49 per cent on its website Tuesday, down from 3.59 per cent posted on the site Monday.

If you would like to know more information about Barrie Real Estate or consider to sell your home, please feel free to contact Scott.

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