Barrie Real Estate Market Update – June 2014

Barrie Real Estate Market Update -  June 2014

Overall Canada’s Residential Real Estate Market  : Low interest rates fuel strong June housing starts

 

According to The Globe and Mail, “Canada’s housing market is showing more strength than anticipated, with low interest rates contributing to construction and sales levels that are defying expectations. About 198,185 units got under way last month on a seasonally adjusted annualized basis, while the consensus forecast from economists was around 190,000 housing starts.”

 

FIRST QUATER MARKET REPORT 2014Summary of Barrie & District Real Estate Market

Home Sales Activity 553 homes (increase 7%)

Average Price of  $340,517  (increase 7%)

House on Market 1,517 (down 3%)

 

Summary of Barrie Real Estate Market

Home Sales Activity 315 homes (up 2%)

Average Price of  $321,541 (increase 7%)

 

 

“Home sales were still running at very strong levels in June, recording the second highest level on record for the month,” said Jerry Hay, President of the Barrie and District Association of REALTORS®. “New listings also continued to come onto the markets at very strong levels in June. Indeed some of the strength in sales activity we’re seeing right now is likely due to pent-up demand from a quiet winter that was just waiting for properties to become available.”

 

 

Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 553 units in June 2014. This was an increase of seven per cent from last June.  Within the City of Barrie sales activity was up two per cent from a year earlier.  The City of Barrie saw 315 residential sales in June.

 

The year-to-date average price for all homes sold via the Association’s MLS® System in June 2014 was $340,517 , up seven per cent from June 2013. The year-to-date average price figure for homes sold within the City of Barrie was  $321,541. This was an seven per cent increase compared to the average selling price in June 2013.

 

Overall supply remains below levels seen in most of the past decade. Active residential listings on the Association’s MLS® System numbered 1,517 units at the end of June 2014, down three per cent from year-ago levels and the lowest June in more than a decade.

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