Press release from the president of the Barrie Association of Realtors.

Sales activity cools in June

Residential property sales recorded through the MLS® System of the Barrie District Association of REALTORS® Inc. came in well below last year’s record levels in June. Home sales numbered 461 units in June 2010, down 19 per cent from the record in the same month in last year. On a year-to-date basis, however, activity was still up 12 per cent compared to the first six months of 2009. New listings rose five per cent from a year earlier to 767 units in June. While still up, the gain was considerably smaller than in the previous four months. This was reflected in the seasonally adjusted figure, which posted a third straight month-over-month decline in June. “Sales activity is softening as has been widely expected, but we’re also now seeing slower growth in the number of new listings coming on stream,” said Elizabeth Wilson, President of the Barrie and District Association of REALTORS®. “This will help in maintaining a good balance of supply and demand going forward.” The average price for homes sold via the Association’s MLS® System in the first half of the year was $280,013, up seven per cent from the same period last year. The Barrie & District Association of REALTORS® cautions that over a period of time, the use of average price information can be useful in establishing trends, but it does not indicate actual prices in widely divergent areas or account for price differentials, between geographical areas. The total dollar value of all home sales amounted to $131.6 million in June 2010, 15 per cent below year-ago levels. Total sales activity in the Barrie region numbered 472 units in June, down 19 per cent on a year-over-year basis. The total value of all properties sold in June 2010 was $133.3 million, a decrease of 15 per cent from June 2009. The number of active residential listings on the Association’s MLS® System rose four per cent on a year-over-year basis to 1,987 units at the end of June 2010. There were 4.3 months of inventory at the end of June 2010, up from 3.3 months one year earlier. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

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.

Filed under: BarrieBarrie Community InformationBarrie Real EstateDistrictEsssaInnisfilOro MedonteSimcoe CountySnow ValleySpringwaterStatistics

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