Buying Barrie Real Estate Agent Mark Turcotte September Numbers

PRLog (Press Release) - Oct. 5, 2012 - Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 342 units in September 2012, down 12 per cent from year-ago levels. While demand has softened a bit, much of that year-over-year decline reflects a very strong month of September last year.

Within the city of Barrie, sales activity also recorded a decrease of 12 per cent from a year earlier. The city of Barrie saw 213 residential sales in September.

On a seasonally adjusted basis, activity was little changed in September compared to levels reported in July and August.

Home sales in the region are still well on track to record the best annual sales figure in five years in 2012. A total of 3,721 homes have traded hands so far this year. This is up nine per cent from the same period in 2011, and marks the best first three quarters of any year since 2007.

“Demand edged back a bit in September after posting an increase in August, but the big picture is that sales have been more or less stable and in line with the 10-year average since July,” said Walter Doret, President of the Barrie and District Association of REALTORS®. “We’re still seeing some pretty tight supply conditions, although things have become a little more balanced since the spring. Accordingly, and in line with trends in many other parts of the country, while price growth remains in positive territory it is showing signs of slowing.”

The year-to-date average price for all homes sold via the Association’s MLS® System in September 2012 was $300,487, up four per cent from levels at the same time last year.

The year-to-date average price figure for homes sold within the City of Barrie was $285,670. This was a six per cent increase compared to the same period in 2011.

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 dollar value of all home sales in September 2012 was $99.5 million, down 12 per cent from year-ago levels.

New residential listings were down 10 per cent from a year earlier to 588 units in September 2012.

Active residential listings on the Association’s MLS® System numbered 1,582 units at the end of September 2012. This was down seven per cent from the end of September 2011.

There were 4.6 months of inventory at the end of September 2012, up from 4.4 months at the end of September 2011. 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.

Other points to consider say's Mark Turcotte of Sutton Group are the latest changes with mortgage criteria is also affecting the market.

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