Barrie Real Estate Market Update – November 2014

Barrie Real Estate Market Update -  November 2014

Canada’s average house price rises 7% to $419,699

According to CBCNEWS, The Canadian Real Estate Association said Monday, November 17, that the average price of a home sold on the agency’s MLS service was $419,699 last month — an increase of 7.1 per cent compared to the same month in 2013. With the October numbers by CREA, the average Canadian home has never been worth more than it is now. In volume terms, the actual number of homes sold rose by the same amount — seven per cent. ”This marks the sixth consecutive month of stronger resale housing activity compared to a quiet start to the year, and the strongest activity for the month of October since 2009,” CREA said.

 

 

august 2014Summary of Barrie & District Real Estate Market

Home Sales Activity 331 homes (increase 21.2%)

Average Price of  $340,784  (increase 6.8%)

House on Market 1,126 (decrease 0.5%)

 

Summary of Barrie Real Estate Market

Home Sales Activity 208 homes (increase 19.5%)

Average Price of  $319,023 (increase 6.2%)

 

 

“Resale housing activity posted its third best showing on record for the month of November, marking a seventh consecutive month of historically strong sales,” said Jerry Hay, President of the Barrie and District Association of REALTORS®. “With just one month left to go this year, sales in 2014 are on track to hit their highest annual level since 2007 and likely the second best ever. At the same time, with some of the tightest market conditions on record this year, the average home price looks set to post an increase of almost seven per cent compared to 2013.”

 

Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 331 units in November 2014. This was an increase of 21.2 per cent from last November.  Within the City of Barrie sales activity rose 19.5 per cent from a year earlier.  The City of Barrie saw 208 residential sales in November.

 

The year-to-date average price for all homes sold via the Association’s MLS® System in November 2014 was $340,784, up 6.8 per cent  from the first eleven months of 2013. The year-to-date average price figure for homes sold within the City of Barrie was  $319,023. This was a 6.2 per cent increase compared to the average selling price in November 2013.

 

Overall supply remains below levels seen in most of the past decade but has ticked higher in recent months. Active residential listings on the Association’s MLS® System numbered 1,126 units at the end of November 2014, down 0.5 per cent from year-ago levels.

 

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