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Barrie and District Home Sales Have Best Month Ever in April 2016

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Source: Barrie and District Association of REALTORS®

The numbers are in for Barrie & District Association of REALTORS® provided by CREA for April 2016.

  • Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 553 units in April 2016, an increase of 13.4 per cent from April 2015. This was a new all-time record.
  • Within the City of Barrie, sales activity rose 10.3 per cent on a year-over-year basis.
  • The City of Barrie saw 353 residential sales in April. A year-over-year increase of 24.2 per cent was recorded in surrounding areas, where sales activity totalled 323 units.

“Simply put, the housing market in the Barrie region is currently the hottest it’s ever been,” said Mike Douglas, President of the Barrie and District Association of REALTORS®. “Sales are higher than they’ve ever been, which has drawn supply down to record lows, and as a result prices are up by double digits over last year.”

  • The year-to-date average price for all homes sold via the Association’s MLS® System was $403,785, up 12.5 per cent from April 2015.
  • The year-to-date average price figure for homes sold within the City of Barrie was $383,349. This was a 16.5 per cent increase compared to the average selling price in the first four months of 2015.
  • The year-to-date average price figure for the surrounding areas in 2016 was $428,267, an increase of 7.1 per cent from the average selling price in the first four months of 2015.

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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 April 2016 was $268.3 million, rising 23.1 per cent from year-ago levels. This was the best April on record.
  • New residential listings were  from April 2015 to 863 units in April 2016.
  • Overall supply is currently trending near the lowest levels on record. Active residential listings on the Association’s MLS® System numbered 911 units at the end of April 2016, down 34.6 per cent from year-ago levels.
  • There were just 1.4 months of inventory at the end of April 2016, down from 2.4 months a year earlier and the lowest level on record. 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 698 units in April, up 15.2 per cent compared to April 2015. The total value of all properties sold in April 2016 was $285.4 million, up 26.7 per cent on a year-over-year basis.

Barrie District April 2016

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.

Ontario Home Sales Had the Second Best March on Record in 2016

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According to residential sales activity reported through the MLS® Systems of real estate Boards and Associations in Ontario numbered 20,974 units in March 2016, an increase of 12.2 per cent from a year earlier. This was the second best month of March on record, standing less than one per cent below the record set back in 2010.

Some highlights of the report include:

  • The 46,981 homes that have traded hands so far this year represent the best start to any year on record.
  • The provincial average price for homes sold in March 2016 was a record $521,178, rising 11.5 per cent from a year earlier.
  • Residential sales up 12.2% in March 2016 compared to a year earlier.
  • New listings in Ontario numbered 34,370 units in March 2016, a decrease of 6.2% compared to last year.
  • The provincial average price of homes in March 2016 rose 11.5% compared to a year earlier.

To view the full report from OREA visit http://creastats.crea.ca/orea/

Barrie and District Home Sales Post Continuous Increases in March 2016

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March 2016 proved to be another month of increased selling prices in Barrie and surrounding areas.

“SELLERS HAVE NEVER BEEN HAPPIER” Says Mike Douglas, President of the Barrie & District Association of REALTORS®Inc.

City of Barrie
Within the City of Barrie, detached residential properties posted an average selling price for the month of March 2016 of $424,655, an increase of 16% over March 2015.

Residential Townhouse, Link and Semi-Detached homes in the City of Barrie posted an average selling price of $323,945 in March 2016, a 25% increase over March 2015.

Condominium sales average for the City of Barrie for the month of March 2016 was $246,735, a 20% increase over March 2015.

Essa Township
In Essa Township, detached residential properties posted an average selling price of $432,702 in March 2016, an increase of 15% compared to March 2015.

Town of Innisfil
Detached residential properties in the Town of Innisfil posted an average selling price of $464,130 in March 2016, an increase of 20% over the month of March 2015.

Are you curious about market statistics from your area? Just let me know and I can get details for you!

The Barrie & 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.
Data provided from the MLS® Database System of the Barrie & District Association of
REALTORS® Inc.

10 Words To Know When Buying A Home

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Buying a home is one of the most important financial decisions you will make. To help you understand the process and have
confidence in your choices, consult the following glossary of common terms you may encounter during the homebuying process.

10 Words to Know When Buying a Home

Resource: Canada Mortgage and Housing Corporation (CMHC)

Canada Mortgage and Housing Corporation (CMHC) offers a variety of publications, calculators and online tools to help you make informed and responsible homebuying decisions. For more home buying tips, visit CMHC’s interactive Step by Step Guide at www.cmhc.ca.

Barrie and District home sales post near-record February

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Barrie FebruaryResidential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 350 units in February 2016, an increase of 4.5 per cent from February 2015; this was the second best February on record after 2012.

Within the City of Barrie, sales activity rose 11.2 per cent on a year-over-year basis. The City of Barrie saw 228 residential sales in February. A year-over-year increase of 13.8 per cent was recorded in surrounding areas, where sales activity totalled 148 units.

“Home sales continue to trend near record levels, limited only by a lack of inventory,” said Mike Douglas, President of the Barrie and District Association of REALTORS®. “With supply struggling to keep pace with demand, prices are posting double-digit year-over-year gains.”

The average price for all homes sold via the Association’s MLS® System in February 2016 was $410,538, up 18.2 per cent from February 2015. This was the first time on record that the average home price in the region has surpassed the $400,000 mark.

The average price figure for homes sold within the City of Barrie was $386,866. This was a 21.3 per cent increase compared to the average selling price in February 2015.

The average price figure for the surrounding areas in 2016 was $442,967, an increase of 13.1 per cent from the average selling price in February 2015.

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 February 2016 was $143.7 million, rising 23.5 per cent from year-ago levels. This was the best February on record and the first time volumes in this month had risen above $120 million.

New residential listings were down seven per cent from February 2015 to 573 units in February 2016.

Overall supply is currently trending near the lowest levels on record. Active residential listings on the Association’s MLS® System numbered 805 units at the end of February 2016, down 22.3 per cent from year-ago levels.

There were just 2.3 months of inventory at the end of February 2016, down from 3.1 months a year earlier and below the long-run average 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 373 units in February, up 6.0 per cent compared to February 2015. The total value of all properties sold in February 2016 was $155.4 million, up 30.2 per cent on a year-over-year basis.

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.

Ontario Home Sales Rise to New February Record

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This report from the Ontario Real Estate Association boasts Ontario home sales rise to a new February record.

Residential sales activity reported through the MLS® Systems of real estate Boards and Associations in Ontario numbered 15,680 units in February 2016, an increase of 15.8 per cent from a year earlier. This was a record for the month of February.

Nationally, home sales activity rose 18.7 per cent from year-ago levels in February 2016.

Provincial year-to-date home sales were running 11.4 per cent above the same period from 2015, joining a fairly exclusive club of years in which activity had surpassed the 25,000 mark by the end of February.

The provincial average price for homes sold in February 2016 was a record $511,967, rising 12.7 per cent from a year earlier. This was the first time the monthly average price figure had ever topped $500,000.

The national average price, by comparison, rose 16.4 per cent on a year-over-year basis to $503,057.

New listings on the MLS® Systems of real estate boards in Ontario numbered 25,384 units in February, an increase of 3.8 per cent from a year earlier.

Active residential listings numbered 43,932 units at the end of February, down 15.3 per cent from one year earlier and one of the lowest levels on record.

There were just 2.8 months of inventory at the end of February 2016, down from 3.8 months at the same time one year ago and below the long-run average 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.

The value of all home sales in the province totalled $8 billion in February 2016, an increase of 30.4 per cent from February 2015. This was a new record for the month and marked the first time volumes in February had reached $8 billion.

The dollar volume of all home sales in Canada was up 38.1 per cent on a year-over-year basis.

Sales of all property types in Ontario numbered 16,590 units in February, up 16.4 per cent from February 2015. The value of those sales amounted to $8.3 billion, rising 31.1 per cent from a year earlier.

View Full Report Here

February 2016 MONTHLY RESIDENTIAL STATISTICS BARRIE & DISTRICT ASSOCIATION OF REALTORS® INC.

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“Should I Buy? Should I Sell? Here’s the latest info. ” “Ask your REALTOR® to discuss the stats. Timing could be right!” Says Mike Douglas, President of the Barrie & District Association of REALTORS® Inc.

Information from BARRIE & DISTRICT ASSOCIATION OF REALTORS® INC. from February 2016.

City of Barrie

Within the City of Barrie, detached residential properties posted an average selling price for the month of February 2016 of $422,631, an increase of 19% over February 2015. Residential Townhouse, Link and Semi-Detached homes in the City of Barrie posted an average selling price of $315,794 in February 2016, an increase of 19% over February 2015 activity.

Condominium sales average for the City of Barrie for the month of February 2016 was $245,945, a 12% increase over February 2015.

Essa Township

In Essa Township, detached residential properties posted an average selling price of $411,900 in February 2016, an increase of 7% compared to February 2015 activity.

Town of Innisfil Detached residential properties in the Town of Innisfil posted an average selling price of $419,081 in February 2016, an increase of 7% over the month of February 2015.

Oro-Medonte Township

The average selling price for detached residential properties in Oro-Medonte in February 2016 was $484,709, an increase of 17% over February 2015.

Springwater Township

Detached residential homes in Springwater Township posted an average selling price in February 2016 of $577,650, a 45% increase over February 2015 activity.

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 Barrie & 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. Data provided from the MLS® Database System of the Barrie & District Association of REALTORS® Inc.

Ontario Home Sales January 2016

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Ontario home sales remain very strong in January 2016 according to reports from Ontario Real Estate Association from The Canadian Real Estate Association Monthly Stats Report.

Some of the highlights of the report include:

  • Residential sales up 4.9% in January 2016 compared to a year earlier.
  • New listings in Ontario numbered 21,405 units in January 2016, a decline of 10.6% compared to last year.
  • There were 4 months of inventory at the end of January 2016, down from 5 months from the same time one year ago. 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 provincial average price for homes sold in January 2016 was $466,053, rising 11% from a year earlier.
  • The Ontario sales-to-new listings ratio was 65.2% in January 2016. A sales-to-new listings ratio between 40 and 60 percent is generally consistent with balanced housing market conditions, with readings below and above this range indicating buyers’ and sellers’ markets respectively.

VIEW DETAILED REPORT

 

Barrie and District Home Sales Post Above-Average January

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Information provided by the The Barrie and District Association of REALTORS®  states that Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 224 units in January 2016, an increase of 2.8 per cent from January 2015.

Within the City of Barrie, sales activity rose 9.6 per cent on a year-over-year basis. The City of Barrie saw 137 residential sales in January. A year-over-year increase of 3.2 per cent was recorded in surrounding areas, where sales activity totalled 96 units.

“January marked a solid beginning to 2016, with activity coming in above both the five and 10-year averages for sales in this month,” said Mike Douglas, President of the Barrie and District Association of REALTORS®. “As with most of 2015, sales may have been higher if listings were more plentiful, but with the balance of supply and demand increasingly favouring sellers we’re likely to see further price growth this year.”

The average price for all homes sold via the Association’s MLS® System in January 2016 was $365,378, up 8.2 per cent from January 2015. The average price figure for homes sold within the City of Barrie was $348,400. This was a 9.1 per cent increase compared to the average selling price in January 2015. The average price figure for the surrounding areas in 2016 was $391,552, an increase of eight per cent from the average selling price in January 2015.

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 2016 was $81.8 million, rising 11.2 per cent from year-ago levels. This was the best January on record and the first time volumes in this month had surpassed $80 million.

New residential listings were down 5.3 per cent from January 2015 to 480 units in January 2016.

Overall supply is currently trending at the lowest levels on record. Active residential listings on the Association’s MLS® System numbered 708 units at the end of January 2016, down 22.7 per cent from year-ago levels.

There were just 3.2 months of inventory at the end of January 2016, down from 4.2 months a year earlier and below the long-run average 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 235 units in January, up 3.1 per cent compared to January 2015. The total value of all properties sold in January 2016 was $86.9 million, up 14.5 per cent on a year-over-year basis.

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.

 

A Building Permit is in your Best Interest

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A home improvement boom is in full swing in Canada and homeowners are investing more money in renovations than ever before. Whether it’s a do-it-yourself task or a major professional project, more of today’s homeowners are investing time and money to make their residences more functional and more comfortable. One of the requirements of your home improvement project may be acquiring a building permit. Although considered by many to be an added inconvenience and expense, building permits are actually important safeguards that help ensure you get sound workmanship and good value for your money.

You should check with the local authorities in your township or municipality prior to beginning work to see if a permit is required. Applying for a building permit ensures that your project conforms to local building codes and other regulations. Your project will be inspected by a qualified building inspector to confirm that the project follows the plans submitted for the permit. The inspector also ensures that appropriate materials and construction methods have been used for the safe usage of your project. For example, if the beams on your raised deck won’t support the maximum weight or the wiring is inadequate to safely run the lighting system you’d planned, the inspector will point this out and then return to verify that the appropriate remedies have been made before approving your project.

These measures are all to your benefit. After all, who wants to find out after you’ve already built a new deck that’s it’s too close to your neighbour’s property? In such a case, they could require you to remove the offending structure at your own expense. As for ensuring that your project used the correct construction materials and conforms to safety standards, the benefits are obvious.

Even if you’re working with a professional contractor, it’s to your benefit to ensure that a permit is obtained, so your contractor’s work will be scrutinized by a ‘pro’. Building permits are always required if you’re making any structural changes to your home, are building an addition onto an existing structure or adding a new improvement to your property. While regulations vary within municipalities, other types of projects may also require permits, particularly if electrical work is required. Some less than professional contractors may encourage you to initiate work without bothering with a permit. Be warned! This will simply allow your contractor to do substandard work without any unbiased party there to ensure that the job has been done to code. If the contractor implies the job will be cheaper without the permit, you should ask yourself why that is so.

Don’t proceed under the misguided assumption that if you do the work yourself, a building permit isn’t necessary. Not so! You’re responsible for ensuring that any home improvements conform to local regulations. That means you’re also liable for any costs that may be incurred to correct a problem, either during or after construction. If you’re in doubt, contact your local authorities before you start.

A ‘Don’t’ List for Prospective Homebuyers

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There’s a lot to consider when buying a home, and especially in today’s changing market conditions. As your local Coldwell Banker® sales professional will tell you, many markets across Canada are beginning to moderate and become more favourable to buyers. So while you’re considering a possible home purchase, here’s a Homebuyer “Don’t” list that may help you avoid some common mistakes: The “DON’T” List for Prospective Homebuyers:

  • DON’T fall in love with the first house or neighbourhood you see. That grand colonial with the picturesque view may win your heart at first glance, but you need to keep an open mind to make sure you find the right fit for all your needs. At the end of your search, it may turn out that the riverfront ranch that’s closer for your commute is a better bet all-around.
  • DON’T buy beyond what you can afford. It’s easy to fall into that all-you-can-eat attitude, especially when it comes to your first home purchase. You “want it all” when it comes to size, amenities, location, etc. But remember that your eyes may have a larger appetite than your wallet. Make sure the down payment, closing costs, monthly expenses and taxes are truly within your income and savings range before you sign an offer.
  • DON’T treat your home the way you treat your stock portfolio. It’s unrealistic and unwise to expect your housing investment to appreciate as quickly as you’d hope for your high-risk bonds. Buying for lifestyle, and remembering that real estate is a great long-term investment, will help you look at home purchasing and ownership in the right context.
  • DON’T jump into a confusing mortgage. Be sure to read carefully through every aspect of the proposed agreements to fully understand your end of the bargain. For instance, an attractive rate now may be difficult to carry if rates change during the term of your mortgage. Arm yourself with information and don’t be afraid to ask questions.
  • DON’T underestimate the value of your local Coldwell Banker real estate professional. While being a savvy buyer and doing your homework will help on the road to homeownership, a local expert with years of negotiating experience is invaluable when it comes to scouting out the perfect home – and closing the deal.

 

A ‘Do’ List for Prospective Homebuyers

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For most Canadians, buying a home is the most significant investment of their lives. Housing inventory is moving up in most major centres across the country, leading to a more balanced market. Historical data demonstrates that purchasing a home has proven a sound long-term financial investment. However, homebuyers – especially first-time buyers — are often understandably anxious when it comes time to making what could be the largest purchase in their life. Coldwell Banker Real Estate LLC has come up with some simple “do” and “don’t” lists to make the process easier for everyone dreaming of homeownership. The Homebuyer ‘DO’ List:

  • DO utilize free online tools to arm you with as much knowledge as possible. For example, the Home Price Comparison Index available at http://www.coldwellbanker.com offers buyers a way to compare average housing costs in over 400 markets across North America.
  • DO access and closely review your credit score. A sound financial track record and solid credit score can help lock in a loan and lower interest rates. Check your records in advance to catch any errors ahead of time, and to better understand how lenders may perceive you.
  • DO explore mortgage pre-approval. Getting this early green light will help others involved with your purchase that you are serious about home ownership – and well-qualified.
  • DO line up your “all-star” team of professionals before game day. A team of experienced professionals will be key to making the home buying process simple and seamless. Start by interviewing and selecting a sales representative who you “connect” with. Your local Coldwell Banker® sales professional can help you identify suitable lawyers, mortgage lenders, home inspectors and others who play a role in the process.
  • DO anticipate your future needs and buy for lifestyle. Try to anticipate how long you’ll live in your next home and plan for major lifestyle changes when possible. What may make a perfect starter home for a couple might not work as well when children come into the picture.
  • DO hone in on your housing priorities. Your ideal home may have a porch, a pool and five full baths. But before you start looking, make sure to separate your “must-haves” from your “nice to haves,” so you know where you can compromise to meet your budget.