Barrie Real Estate Market Update – October 2013

Barrie Real Estate Market Update - October 2013

According to The Globe and Mail, the Canadian housing market continued to be strong in October. The number of home sales increased modestly in Canada and the average Canadian home price increased as inventory tightened in most markets. 

 

 

 

Summary of Barrie Real Estate Market

 - Home sales activity 205 homes

- Average price of $316,312

- 5-year fixed mortgage rate (special offers): RBC 3.79%, CIBC 3.89%, TD Canada Trust 3.79%, BMO 3.79%, Scotiabank 3.59%.

 

Overall supply still remains low, active residential listings on MLS numbered 1,317 units at the end of September, down 9% from levels at the end of October last year.  According to Wendy Elzner, President of the Barrie and District Association of REALTORS®, Resale housing demand in the region has been very strong since the spring, and that continued in October with sales actually setting a new record for the month. 

Sales activity was up 7% from a year earlier; the year-to-date average price for all homes sold increased 6% compared to the same period last year; and the dollar value of all homes dales in October was up 10% from year-ago levels. 

Canadian buyers can likely look forward to continued low rates as the Bank of Canada announced it will not be able to hike rates in the near future, while sellers will continue to see themselves well positioned as prices continue to improve and competition amongst buyers becomes more common. 

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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