March was a busy month for sales in the City of Barrie and Surrounding Areas. Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 553 units in March 2016, this is an increase of 22.6% from March 2015 – and claimed the title of most active month of March on record.
Within the City of Barrie, sales activity rose 16.4% on a year-over-year basis.
“While home sales have recently been trending at or at least very near record levels, March was in a league of its own, rewriting the old record for the month set back in 2010 by almost 20 per cent,” said Mike Douglas, President of the Barrie and District Association of REALTORS®. “While we know the demand is definitely there and very strong, there is some question as to whether activity will be able to repeat the strength we saw in March for the simple fact that there may not be enough properties for people to buy. The stock of listings on the market at the end of the month is now under 1,000 which makes for less than two months of inventory. That’s almost unprecedented, so new listings will play a critical role in the months ahead. Meanwhile, with the market currently the tightest it’s ever been, competition among buyers is leading to double digit price gains.”
The year-to-date average price for all homes sold via the Association’s MLS® System was $400,236, up 15% from March 2015.
The year-to-date average price figure for homes sold within the City of Barrie was $379,227. This was a 17.2% increase compared to the average selling price in the first quarter of 2015.
The Barrie real estate market is low on inventory. If you are thinking of selling, now is the time to get top dollar for your home. You may be very surprised as to what your home could sell for. Contact me for a complimentary market evaluation of your home.