Real Estate Sales for December

Happy New Year! 2010 saw a stabilization of the real estate market in Canada. It may be not have been the best year and did fall short of the previous year, however, overall the market was stable.

Based on the residential sales report from The MLS® System of the Barrie & District Association of REALTORS® Inc., last months sales were above a five-year average for the month. There were 193 units sold in December alone, a distinct increase as compared to the last 7 months. However, compared to December 2009, this data fell seven percent short.

The report also shows a pattern of annual sales. There were 4,105 units sold last year, one percent above 2008 but seven percent below 2009.

According to the President of Barrie and District Association of REALTORS®, Catherine Garbe, 2010 was a solid and stable year for home sales and December was the strongest month. To see more figures and data on December sales click here.

In conclusion, real estate sales in 2010 were satisfactory. Sales may have fallen short in comparison to previous years but there was no drastic decrease in percentage sales. In addition, sales performance for 2010 became stable, maintaining average sales and even increasing sales based on a month to month comparison. With good residential sales activity in 2010, we’re hoping 2011 will be great!

Until next time,
Jamie

Real Estate Sales for November

We’re nearing the end of 2010 and, so far, the real estate market has remained stable since the second half of the year.

 

Let’s take a look on how the market looked for the month of November:

• Similar to previous months, residential property sales in November remained below those of previous years. Although, comparing November 2009 to this year, the decline was not as steep as it has been in previous months. The number of sold residential properties was 17 percent below that of last year.
• The MLS® System of the Barrie & District Association of REALTORS® Inc. recorded that over the past 11 months the average sale price for homes is 7 percent more than during the same period in 2009.
• According to the President of Barrie and District Association of REALTORS®, Catherine Garbe, the market currently continues to stabilize and real estate sales continue to show signs of stabilizing at more normal and sustainable levels.
• New listings in November 2010 were up 5 percent as compared to last year. On a year-over-year basis the number of active residential listings on the MLS® System at the end of November was up 9 percent.
• To read more about the detailed statistics for November 2010 click here.

We are currently seeing the market continue to stabilize. Let’s wait for the statistics in December to conclude the residential property sales activity for the year 2010.

Until next time,
Jamie

 

REALTOR® Fees

Have you heard the news about the consent agreement between CREA (The Canadian Real Estate Association) and the Competition Bureau of Canada? The agreement followed a prolonged negotiation between CREA and the Competition Bureau of Canada as the Bureau claimed that CREA’s Multiple Listing Service® (MLS®) was a monopoly.


Well, what does this agreement mean? It simply means that now any home owner wanting to sell their own home can pay a fee to a REALTOR® to have their listing put onto the MLS site and then sell their house themself. This agreement may be advantageous to some, most especially if the home owner has solid real estate knowledge and marketing skills. However, for those selling their own homes without these skills, the agreement may be dangerous.

REALTORS® are well trained and educated professionals. They have a great deal of knowledge of contract law, mortgage financing, land laws and negotiation skills. It is not an easy profession. All REALTORS® must carry professional insurance and must continue their learning in order to annually renew their Real Estate license. It is also important to note that the REALTOR® does not keep the entire commission – the commission must be split between the seller’s agent and the buyer’s agent, then must be split again between the REALTOR® and their sponsoring company. REALTORS® pay a substantial cost for marketing of their client’s homes including advertising, websites, flyers, newsletters, etc. They spend time and gasoline taking clients to see properties, sometimes to no avail as the potential buyers, at any time, can decide they don’t want to buy a home. REALTORS® can also spend countless hours in back and forth negotiation between buyers and sellers.

To read more about the agreement and how REALTORS® earn their fees, click here
 
Until next time,
Jamie

Real Estate Sales for October

We’ve entered the last quarter of the year, it's hard to believe we are almost at the end of 2010 already! In the Real Estate world, home sales have been stable since the third quarter of this year. The average price for homes sold in Barrie and District over the past ten months is up seven percent from the first ten months of 2009. What’s next? Will the market continue to be stabilized? Well here’s an update on sales activity for October in Barrie and District.


Since August 2010, residential property sales have consistently increased, edging up one percent in October over steady increases in August and September, on a seasonally adjusted month-to-month basis. However, the data also shows residential sales remained below last year’s record levels for the month of October. These records are from the MLS® System of the Barrie & District Association of REALTORS® Inc.

According to the President of the Barrie and District Association of REALTORS®, Catherine Gabe, the Real Estate sales market is now calmer as compared to early this year and buyers seem to be taking their time in making their buying decisions. To read more about the figures of real estate sales, click here.

At the present time it seems like we’re looking at a continuous balance of supply and demand in the real estate market, although in comparison to last year at this time sales remain lower than those record levels.

Until next time,

Jamie