Mike Montague

Late this summer on a warm night around a campfire just outside of town, Grant Sauve serenaded the group, strumming out one song after another. He played for us a tune he penned called "Here in Barrie". I shared the story with some members of our City council the next week suggesting they contact Grant about making this an official anthem for our town. I don't know if anything transpired from that but this morning I awoke to the "Here in Barrie" song being played on KoolFM107.5

Hopefully the momentum is underway for Grant and "Here in Barrie"

media release from BDAR President, Wendy Elzner.

MLS® home sales activity reached the highest level ever for the month of September in the area served by the Barrie District Association of REALTORS® Inc. Improving demand and fewer new listings continue to draw down inventories.

According to statistics provided by the Association, MLS® home sales activity totalled 422 units in September 2009. This is a 20 per cent jump year-over-year, and represents the fourth consecutive increase from year-ago levels.

Sales activity was up seven per cent in September from the previous month, the largest increase over this period in six years. The larger than normal monthly increase resulted in a monthly increase of eight per cent in seasonally adjusted sales activity (seasonal adjustment removes normal seasonal fluctuations). Seasonally adjusted activity in September stood 79 per cent above the low in January.

“September was another strong month for sales,” said Wendy Elzner, President of the Barrie and District Association of REALTORS®. “Rebounding demand and fewer new listings continue to draw down inventories and firm up the market.”

The total dollar value of all MLS® home sales amounted to $113.8 million in September 2009, 24 per cent above year-ago levels. This is the largest increase in dollar volume almost two years.

Total MLS® sales activity in the Barrie region numbered 439 units in September, rising 22 per cent year-over-year. The total value of all MLS® properties sold in September 2009 was $117.6 million, 23 per cent above levels from September 2008.

The average price for homes sold via the Association’s MLS® system in September was $269,755, up 3.5 per cent from one year ago.

New residential listings numbered 658 units in September 2009, down 10 per cent year-over-year. This is the sixth consecutive month in which the number of new listings is down from year-ago levels.

The number of active residential listings on the Association’s MLS® system declined 18 per cent year-over-year to 1,830 units at the end of September 2009. This is the fourth double-digit decline in as many months, and the fifth consecutive month in which active listings have dropped from year-ago levels.

The number of months of inventory was 4.3 months in September. This is down from 4.7 months in August, and 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

Construction of the Lakehead University Orillia Ontario Campus is well underway and the first of three phases of this new education facility is expected to open in the fall of 2010. The creation of a new university presents a rare and significant real estate investment opportunity to those who will take advantage. Property values will be positively effected in Orillia in reflection of the demand for rental accommodations this facility is about to create.

Average home prices in Orillia are lower than Barrie to the south yet average rental rates for rooms, flats and apartments are on par with Barrie and are certain to increase with the imminent demand ahead. Orillia has many older homes in and aroud the area where the Lakehead campus is being constructed, many are on public transit routes and are good candidates for immediate or future rentals.

My advice to investors who have been underwhelmed by the ROI rates the Simcoe county rental market has shown for the past while is to take a serious look at the Orillia market and the opportunities it presents.

Parents of students who will be attending Lakehead University in Orillia will want to consider the financial benefits of purchasing over renting. Learn more

Should you wish to be kept current on listing activity for the Orillia area call or email me with your purchase criteria. I will provide you with regular updates on current and future properties for sale.

Corresponding links:

Orillia Lakehead off Campus housing department

News release

City of Orillia

Real Estate investment in Ontario or elsewhere requires some basic considerations during the where when and what stages. The interview below with Don Campbell, head of the Real Estate Investment Network considers these factors and their results in our current economic climate. Some of REIN's conclusions bode well for Barrie Ontario.(hear more about this)

Barrie Ontario has many if not all of the resources that will be of highest demand from a City in the forseeable future. There is a formula or template for taking a city with the resources of Barrie from relative obscurity to the forefront econimically. Only a few North American cities know and benifit from it. With it comes tax stability, a thriving city core and top shelf public services and infrastructure. We are close, third in fact in a pole by REIT for best places in Ontario to invest in Real Estate.

We are a year away from municipal elections in Ontario, fresh blood ideas and enthusiasm to stimulate local governments and hopefully bring forward the best minds to insure Barrie its place out front where it belongs.