Real Estate Stats for Barrie and the Surrounding Area for October 2018

 

Residential property sales recorded through the Matrix System in the Barrie & District Association of REALTORS® Inc. (BDAR) region numbered 380 units in October 2018. This edged down 1.8% (seven sales) from October 2017 and was in line with the 10-year October average. On a year-to-date basis, home sales totalled 3,751 units over the first 10 months of the year. This was a decrease of 15.3% from the same period in 2017. 

Within the City of Barrie, sales activity numbered 192 residential sales in October 2018, down 9% on a year-over-year basis. By contrast, a year-over-year increase of 7.8% was recorded in surrounding areas, where sales activity totalled 193 units in October 2018.
The MLS® Home Price Index (HPI), tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price for Barrie & District in October 2018 was $475,700, down 0.9% compared to October 2017. This was the smallest year-over-year decline since the beginning of the year.
The benchmark price for single-family homes was $486,900, edging down 1% on a yearover-year basis in October. By comparison, the benchmark price for townhouse/row units was a record $303,200; edging up 3.2% compared to a year earlier. The benchmark apartment price was a record $354,700, 2.9% from October 2017.
The average price of homes sold in October 2018 was $493,567, edging up 1.5% from October 2017. The more comprehensive year-to-date average price was $502,239, down 4.8% from the first 10 months of 2017. The year-to-date average price figure for homes sold within the City of Barrie at this point in 2018 was $480,509. This was a decrease of 3.8% compared to the average selling price in the first 10 months of 2017.
The year-to-date average price figure in surrounding areas was $524,408, a decrease of 6% from the first 10 months of 2017. 
The dollar value of all home sales in October 2018 was $187.6 million, down just 0.3% from the same month in 2017.
There were 820 new residential listings in October 2018. This was up 9.8% on a year-over-year basis and marked a new record for the month. Active residential listings numbered 1,468 units at the end of October, an increase of 18.2% from the end of October 2017 and the highest level for this time of the year since 2011.
Months of inventory numbered 3.9 at the end of October 2018, up from the 3.2 months recorded at the end of October 2017 but below the long-run average of 4.8 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.
Sales of all property types in the Barrie region numbered 401 units in October 2018, down 1% (four sales) from October 2017. The total value of all properties sold was $208.9 million, up 5.8% from October 2017. 

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