Barrie Real Estate Market Activity at its Highest

Information provided by the Barrie and District Association of REALTORS® Inc., June 2009

MLS® home sales reached topped 500 units in May 2009 in the area served by the Barrie District Association of REALTORS® Inc. This is the highest level for sales activity in a year, although sales remain below year-ago levels

Transactions remain below year-ago levels, but the trend is improving. According to statistics provided by the Association, MLS® home sales activity totalled 505 units in May 2009. This is down 3.4 per cent from a year earlier, the smallest year-over-year decrease in activity in 15 months. 

On a monthly basis, sales activity in the Barrie region was up 23 per cent in May 2009 compared to April.  This is the largest seasonal increase in sales activity between these two months in eight years. The stronger than normal seasonal rebound lifted seasonally adjusted sales activity by 13 per cent in May compared to the previous month (seasonal adjustment removes normal seasonal fluctuations).  Seasonally adjusted sales activity in May 2009 stood 64 per cent above the recent low recorded in January 2009

The total dollar value of MLS® residential property sales amounted to $138 million in May 2009, five per cent below year-ago levels.

Total MLS® sales activity in the Barrie region numbered 515 units in May, declining 2.8 per cent year-over-year. The total value of all MLS® properties sold in May 2009 was $141.6 million, which is 4.1 per cent below May 2008 levels.

The average price for MLS® home sales in May 2009 was $273,296. This is down just two per cent from the record average price a year earlier, and the fourth highest on record for any month.

New listings on the Association’s MLS® system declined eight per cent year-over-year to 814 units in May. This is the second decline from year-ago levels in as many months.

The number of active residential listings in May 2009 fell one per cent from levels in May 2008.  This is the first time in 14 months that active listings have fallen below year-ago levels. 

“Improving consumer confidence and affordability is drawing buyers back to market,” said the President of the Barrie and District Association of REALTORS®. “Listings are being drawn down by rising activity as fewer new listings come onto the market, which will further stabilize prices if these trends persist.”

The Barrie and District Association of REALTORS® Inc. covers a geographical area that includes the City of Barrie and part or all of the surrounding townships, including Springwater, Oro-Medonte, Innisfil, Essa, Bradford-West Gwillimbury and Clearview. The Association provides continuing education, Multiple Listing Service® (MLS®), statistical information, and many other services to its members.

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