Barrie and District Home Sales – January 2020
Residential property sales recorded through the Matrix™ System in the Barrie & District Association of REALTORS® Inc. (BDAR) region numbered 247 units in January 2020. This was up 8.3% from January 2019.
Within the City of Barrie, residential sales activity numbered 125 units in January 2020, rising 19% on a year-over-year basis.
Sales activity was unchanged on a year-over-year basis in surrounding areas, where sales activity totalled 128 units in January 2020.
“Home sales started the year off on solid footing, coming in above both the five and 10-year averages for the month of January,” said Robin Jones, 2020 BDAR President. “In addition, with the market having tightened back up over the last year, price growth is back in positive territory on a year-over-year basis.”
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 was $481,100, edging up 1.7% in January 2020 compared to January 2019.
The benchmark price for single-family homes was $490,400, up 1.4% on a year-over-year basis in January. By comparison, the benchmark price for townhouse/row units was $320,500, rising 7.6% compared to a year earlier, while the benchmark apartment price was $364,800, up 3.6% from year-ago levels.
The average price of homes sold in January 2020 was $524,080, up 7.8% from January 2019.
The average price figure for homes sold within the City of Barrie in January 2020 was $508,625, a 10.9% increase compared to the same month in 2018.
The average price figure in surrounding areas in January 2020 was $539,855, an increase of 5.8% compared to the same month in 2018.
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 January 2020 was $129.4 million, jumping 16.8% from the same month in 2019. This was a new record for the month of January.
There were 530 new residential listings in January 2020, down 9.7% on a year-over-year basis.
Active residential listings numbered 751 units at the end of January, dropping 23.4% from levels seen at the end of January 2019.
Months of inventory numbered 3 at the end of January 2020, down from the 4.3 months recorded at the end of January 2019 and below the 10-year average of 4 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 262 units in January 2020, up 6.5% from January 2019. The total value of all properties sold was $135.1 million, rising 11.4% from January 2019.
BOARD & ASSOCIATION INFORMATION
The Barrie and District Association of REALTORS® Inc. covers a geographical area that includes the City of Barrie and part or all of the surrounding townships, including Springwater, Oro-Medonte, Innisfil, Essa, Bradford-West Gwillimbury and Clearview. The Association provides continuing education, Multiple Listing Service® (MLS®), statistical information, and many other services to its members.
The average price information quoted can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods, or account for price differentials between geographical areas.
BARRIE & DISTRICT ASSOCIATION OF REALTORS® INC.
For more information,
- (705) 739-4650