Barrie Home Sales Down in July 2010
Barrie Residential property sales recorded through the MLS® System of the Barrie District Association of REALTORS® Inc. were down considerably in July 2010.
A slowdown in demand in Ontario had been widely expected in July, with many purchases having been brought forward into the first half of the year in advance of the introduction of the HST.
Barrie homes sales numbered 309 units in July 2010, down 31 per cent from the second best July on record last year. On a year-to-date basis, Barrie home sales activity remains four per cent above levels reported in the first seven months of 2009.
The average price for Barrie homes sold via the Association’s MLS® System in the first seven months of the year was $278,611, up six per cent from the same period last year.
The total dollar value of all Barrie home sales amounted to $82.7 million in July 2010, 31 per cent below year-ago levels.
Total Barrie and area Properties sales activity numbered 325 units in July, down 30 per cent on a year-over-year basis. The total value of all properties sold in July 2010 was $88.2 million, a decrease of 30 per cent from July 2009.
New Barrie listings were down six per cent from a year earlier to 645 units in July. New listings have been trending lower in recent months, as supply adjusts to softer sales, and this is helping to maintain a healthy balance of supply and demand in the marketplace.
The number of active Barrie residential listings on the Association’s MLS® System rose four per cent on a year-over-year basis to 1,933 units at the end of July 2010.
There were 6.3 months of inventory at the end of July 2010, up from 4.1 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.
For more information regarding the Barrie Real Estate Market call Peter Clarke, Broker of Record/Owner of ELITE ACCESS REALTY INC. at 705-716-7611 or visit our Barrie Real Estate website www.BarrieProperties.com.
Information provided by The Barrie and District Association of REALTORS® Inc.