Home sales activity remains strong in July

MLS® home sales activity in the area served by the Barrie District Association of REALTORS® Inc. was up from year-ago levels for the second consecutive month in July 2009. Meanwhile, active listings continued to retreat from elevated levels.

According to statistics provided by the Association, MLS® home sales activity totalled 449 units in July 2009, up four per cent from the same month last year.

“July was another strong month for sales,” said Wendy Elzner, President of the Barrie and District Association of REALTORS®. “We’re also seeing fewer listings compared to last year’s elevated levels, which is firming up the market.”

The total dollar value of MLS® residential property sales amounted to $119.5 million in July 2009, six per cent above year-ago levels.

Total MLS® sales activity in the Barrie region numbered 462 units in July, rising five per cent year-over-year. The total value of all MLS® properties sold in July 2009 was $125.6 million, nine per cent above levels in July 2008.

The year-to-date MLS® residential average price for home sales in July 2009 was $262,612. This is six-tenths of one per cent below the average value reported in the first seven months of 2008.

New residential listings numbered 689 units in July 2009, down 11 per cent from one year earlier. This is the second double-digit decline in as many months, and the fourth consecutive decrease in new listings.

The number of active residential listings on the Association’s MLS® system were down 16 per cent year-over-year to 1,854 units at the end of July 2009. This is the third consecutive decline, and the largest in 19 months.

The number of months of inventory edged up to 4.1 months in July, compared to 3.3 months in June, but remains well below levels posted earlier this 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.

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.