Residential property sales in the Barrie & District Association of REALTORS Inc. came in under last year’s levels, however saw an increase of 1% on a month-over-month basis. This trend follows gains of 10 % in August and September. More specifically, the report mensions that housing sales growth in Barrie was down 29 % from October last year, although, as mentioned, continued to climb for the third consecutive month. So there is growth in Barrie, in part due to low mortgage rates, but the growth is slower than last year at this time. Catherine Garbe, President of this Association of REALTORS in Barrie and Orillia reported that demand is stabilizing overall. Moreover, the average price for homes sold through the so far this year of has increased 7% from the same time last year. For many this housing value growth number is more important than sales activity numbers.
The Barrie and Orillia market continues to stabilize with 6.5 months of inventory at the end of October 2010. This represents an increase from 4.1 months in 2009. Good mortgage rates, location, and the general desirability of Barrie and Orillia make it an attractive candidate for continued long term growth.
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