Barrie’s Real Estate Market Is Finally Heating up Again
Sales and the average sale price are both up over last June
The typical Spring home-buying rush was more of a slow, first dance shuffle this time around. Sales activity was lacklustre in March, April and May to say the least – hitting 9-year lows nation-wide. June has been different though.
Average price: $479,579
Sales and the average sale price are both up over last June in Barrie. The number of sales are up 25% year-over-year while prices are up 2.8%.
Related: Sales hit 9-year low in March, April and May
Average price: $503,837
County-wide, real estate activity is also picking up. Residential property sales in Simcoe county has increased 14% this June over last. The sticker tag is also up 0.9% year-over-year.
“June is the first month that year-over-year comparisons do not compare directly to the overheated market in early 2017″
BDAR President Geoff Halford says the market is starting to rebound. In a statement Halford said “we can really see that the market is improving and returning to the normal rate of increases we are used to.”
Collingwood and area
Back in the Spring, Collingwood area realtor Marg Scheben-Edey said the new stress test certainly had an impact with homes sales in the Collingwood area incredibly slow.
“The new stress test certainly had an impact with home sales in the area stagnant”
Scheben-Edey has since took a deeper into the market in the Wasaga Beach, Blue Mountians, Collingwood, Stayner and Thornbury markets.
In her latest blog post, Scheben-Edey says there were fewer new listings year-to-date yet the “inventory” of homes for sale is up across the board, except for condos in Blue Mountain.
Scheben-Edey says it’s due to fewer properties being sold and properties are remaining on the market for longer. Sale prices are relatively unchanged in Southern Georgian Bay.