Barrie Real Estate Market Update – October 2014

Barrie Real Estate Market Update -  October 2014

Canadian house price index up 5.4% in October

According to CBCNEWS, the Teranet-National Bank index of home prices rose 5.4 per cent from last year in October, led by strong annual increases in Vancouver, Calgary, Hamilton and Toronto. On a year-on-year basis, all 11 cities measured in the index saw house prices rising, with the exception of Victoria, where prices fell 0.1 per cent from October 2013. The index is now at a record level, reflecting continued demand for resale homes as mortgage rates remain low. The index has been rising for 11 straight months. The results highlight the unevenness of the increases in house prices across the country.

 

august 2014Summary of Barrie & District Real Estate Market

Home Sales Activity 396 homes (increase 0.5%)

Average Price of  $340,246  (increase 6.4%)

House on Market 1,297 (decrease 1.5%)

 

Summary of Barrie Real Estate Market

Home Sales Activity 217 homes (decrease 11.1%)

Average Price of  $318,699 (increase 5.8%)

 

“Resale housing activity remained very strong for a sixth consecutive month in October 2014, setting a record for the month which follows right on the heels of the record month of September,” said Jerry Hay, President of the Barrie and District Association of REALTORS®. “Again, most of the strength in the overall number from the standpoint of running above all other months in history came from activity in surrounding townships. Meanwhile, sales in the City of Barrie were running at solid but less remarkable levels.”

 

Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 396 units in October 2014. This was an increase of 0.5 per cent from last October.  Within the City of Barrie sales activity fell 11.1 per cent from a year earlier.  The City of Barrie saw 217 residential sales in October.

 

The year-to-date average price for all homes sold via the Association’s MLS® System in October 2014 was $340,246, up 6.4 per cent  from the first ten months of 2013. The year-to-date average price figure for homes sold within the City of Barrie was  $318,699. This was a 5.8 per cent increase compared to the average selling price in October 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 1,297 units at the end of October 2014, down 1.5 per cent from year-ago levels.

 

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