Barrie and District
If you want to sell your property, it’s common to ask,” how can I sell my Barrie house quickly?” In a recent report, Barrie & District MLS®® sold a total of 464 homes in November 2020. This is a 13.2% increase when compared to November 2019. The figures set a new record for November.
From the beginning of the year to the 11th month, improvements were also visible. Home sales summed up to 5,374. This was yet another increase of 22.2% in comparison to a similar period the previous year. In November 2020, residential units that were sold in Barrie city totaled 242. These sales were behind the 14.7% rise that was registered between the 12 months. So, if you are indecisive about which platform to use to sell your Sudbury home fast, consider Barrie & District MLS®®. Additionally, the yearly sales in surrounding areas also went up by 10.6%. This is after 220 units were successfully sold in November 2020 to homeowners.
President of the Barrie & District Association of REALTORS® ®, Robin Jones, mentioned that although a decline was observed in home sales during summer, new monthly records were still being achieved. He also added that less supply with uncertain market demands was responsible for the dwindling of more inventories. On the other hand, buyers are competing for the few available listings. In –turn, a consistent profit pattern is noted for some months.
By using median and average measures, The MLS®® HPI (Home Price Index) to enhance accuracy. It monitors price trends in sales. In November 2020 the benchmark price rose to $598,000. This was 23.4% more than what was recorded in the same month during the past year.
Single-family home sales rose by 24.2%, the figure being $627,300. Similarly, townhouse sales generated a total of $423,000. This was up by 25.8% when compared to November 2019. Apartments also cited a 12.2% increase to bring the digits to $372,300. Besides these, average home sales totaled $677,443. An advancement of 27.2% for the same month during the past year. January-November 2020 average sales shot up by 16.8% if compared to the similar 11 -month time frame in 2019. For the average home sales from January to November in Barrie city, a total of $563,299 was gained hence a rise of14.5%. The surrounding areas also posted sales of $701,140, being an increase of 19.7% during the same period.
In as much as the HDI is useful in predicting sales trends, it doesn't account for the disparity in prices across different areas. $314.3 million was the total amount of money gained after all homes had been sold. The figure set the new sales record for November 2020, an increase of nearly half the previous' year amount. It stood at 43.9%. Listings remained constant with 482 residential homes for both November 2019 and 2020. However, only 393 were active hence a 58.9% loss. Additionally, months of inventory went down to 0.8 from 2.3. This is far below 2.9 months which is the average during this time.
The Barrie & District Association of Realtors® operates in the city of Barrie as well as surrounding areas. They include Essa, Springwater, Bradford West Gwillimbury, Oro-Mendote, Clearview and Innisfil. The Association not only provides statistical information and education to members but also the Multiple Listing Service (MLS®®).