Barrie & District home sales remain at lower levels in March; supply back at more normal levels.

 
Residential property sales recorded through the Matrix System in the Barrie & District Association of REALTORS® Inc. (BDAR) region numbered 370 units in March 2018. This was a decline of 49.5% from the all-time monthly record in March 2017.
 
On a year-to-date basis, home sales totalled 855 units over the first three months of the year. This was down 41.2% from the same period in 2017.
 
Within the City of Barrie, sales activity fell 57.2% on a year-over-year basis in March 2018. The City of Barrie saw 166 residential sales in February 2018. A year-over-year decrease of 40.8% was recorded in surrounding areas, where sales activity totalled 203 units.
 
The year-to-date average price was $513,359, down 6.9% from the first three months of 2017.
 
The year-to-date average price figure for homes sold within the City of Barrie at this point in 2018 was $521,965. This was a decrease of 7% compared to the average selling price in the first three months of 2017.
 
The year-to-date average price figure in surrounding areas up to this point in 2018 was $585,136, a decrease of 7.2% from the first three months of 2017.
 
The dollar value of all home sales in March 2018 was $190 million, falling 56% from the same month in 2017.
 
There were 914 new residential listings in March 2018. This was down 5.9% on a year-over-year basis.
 
Active residential listings numbered 1,230 units at the end of March. This was more than double the levels from a year earlier, rising 125.3% from the record low levels seen at the end of March 2017. The increase returns supply to more or less average levels for this time of the year.
 
Months of inventory numbered 3.3 at the end of March 2018, up from the extremely low 0.7 months recorded at the end of March 2017 but still below the long-run average of about four months for this time of year. 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.
 
If you are curious what your home might be worth in today's ever-changing market, feel free to give me a call!

 


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