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Barrie Market Report For September 2022

Housing market activity continues to trend well below typical levels for the month of September as higher interest rates continue to erode affordability.

On the flipside, the overall inventory of homes on the market are well up from their rock bottom levels seen earlier in the year, which is good news for anyone looking to purchase or for those who have been waiting on the sidelines for an opportunity to enter the housing market.

Find out what your property is worth in today’s Market at https://forsaleinbarrie.ca/index.php/whats-my-property-worth/

Stats are correct as of Thursday October 6th. Based on September 2021 v September 2022

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Barrie Market Report For August 2022

The kids are back at school and summer is winding down, so how’s the market looking? The anticipated, yearly slow down of the market was in effect during August. As people try to make the most of the end of summer, prepare for kids returning to school and with more interest hikes, we saw a year over year decrease in sale prices for Barrie of 5%. However, year to date the average sale price has risen more than 20% to $970,175.

A huge increase in active listings of more than 200% compared to 2021 has seen buyers have many options that were lacking in the earlier parts of the year. Sellers are still holding out for the prices they saw in early 2022 but taking the Bank Of Canada interest rate increases into consideration, we’re seeing a slowing down of the market. With more interest hikes in the pipeline, it’s still a great time to find that dream home.

Find out what your property is worth in today’s Market at https://forsaleinbarrie.ca/index.php/whats-my-property-worth/

Stats are correct as of Thursday September 15th. Based on August 2021 v August 2022

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Market Report For July 2022

Home sales have declined sharply since February of this year, due almost entirely to a rapid set of steep interest rate increases that have brought mortgage rates up from historical lows. There’s going to be a lot of adjustment on both sides of the market over the remainder of the year as all participants revise their expectations – buyers on what they can afford and sellers on price expectations. We’ve still got a few more rate hikes expected before year end, so we anticipate the market to continue rebalancing as supply outpaces demand for the time being.

Find out what your property is worth in today’s Market at https://forsaleinbarrie.ca/index.php/whats-my-property-worth/

Stats are correct as of Thursday August 11th. Based on July 2021 v July 2022

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Barrie Market Report For June 2022

Although the average sale price went up, home sales continued to decline in June, with activity remaining slightly below what would be considered typical levels for this month. The market has been turned on its head – less than six months ago we were facing some of the tightest conditions in history, with demand outpacing supply by an extraordinary margin, and now those trends are beginning to reverse. In addition to sales dropping below average levels, new listings returned to the market at the fastest rate for any June in history. The current level of available listings on the market also popped up above 1,000 for the first time since October 2019.

Find out what your property is worth in today’s Market at https://forsaleinbarrie.ca/index.php/whats-my-property-worth/

Stats are correct as of Thursday July 14th. Based on June 2021 v June 2022

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Barrie Market Report For May 2022

Recent interest rate increases have taken a bite out of demand, with more moderation expected in the face of the most recent and sizeable hike at the beginning of June. Our market is very well supplied at the moment, with the highest number of new listings in any May in history bringing some much-needed relief to the supply side and restoring balance to the market. With conditions finally appearing to move out of the unprecedented tightness of the past two years and available listings on the market rising from historical lows we might begin seeing previously sidelined buyers return to the market.

Find out what your property is worth in today’s Market at https://forsaleinbarrie.ca/index.php/whats-my-property-worth/

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Barrie Market Report For April 2022

Sales activity declined from last year’s astronomical record to the lower end of the average range for this time of year. New listings, on the other hand, posted a record showing for the month of April. With sales down and new listings up this meant that some much-needed supply flowed back into the market. If sales activity remains subdued compared to the red-hot activity of the past two years in the face of more interest rate increases on the horizon, we will likely see a rebalancing of the market over the remainder of the year to a point where potential buyers can finally see a more normal availability of listings from which to choose.

Find out what your property is worth in today’s Market at https://forsaleinbarrie.ca/index.php/whats-my-property-worth/

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Barrie Market Report For March 2022

Home sales were down considerably from last year’s unprecedented March record but still came in well above typical levels for this time of year. A substantial influx of new supply was a very welcome sight in March. Overall inventories had previously dropped to the lowest levels on record with little relief in sight, and although the market is still experiencing some of the tightest conditions in history at least we have a bit more breathing room. The resurgence of supply may be an early start to the spring market, so we’ll see how much more of this comes to market and to what extent buyer appetites absorb this new inventory.

Find out what your property is worth in today’s Market at https://forsaleinbarrie.ca/index…/whats-my-property-worth/

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February 2022 Market Report

This month’s data showed an overall year-over-year decrease in the number of units sold, a decrease in new listings, and a large increase in average sale price. The price of residential units sold continued to rise, now sitting at $963,554 which is a 36% rise compared to last year. This evidences that, the supply of homes still cannot keep pace with the demand right now.

Active residential listings numbered 135 units on the market at the end of February, a huge drop of 65% from the end of February 2021.

As prices rise and the theme of low inventory continues, now is the time to take advantage of the market and achieve maximum price for your property. As more interest rate hikes loom on the horizon now is a great time to sell your property.

Trust your local experts to guide you through the process and take advantage of the current market.

All data correct as of March 10, 2022, data gathered by the Ontario Collective based on February 2021 vs February 2022.

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January 2022 Market Report

This month’s data showed a slight decline in sales year-over-year, down 5% compared to last January. This is most likely attributed to the lack of inventory. However, the price of residential units sold continued to rise, now sitting at $936,353 which is a 35% rise compared to last year. This evidences that, the supply of homes still cannot keep pace with the demand right now.

Active residential listings numbered 186 units on the market at the end of January, a considerable drop of 15% from the end of January 2021. Active listings haven’t been this low in the month of January in more than 25 years.

As prices rise and the theme of low inventory continues, now is the time to take advantage of the market and achieve maximum price for your property.

Trust your local experts to guide you through the process and take advantage of the current market.

All data correct as of February 11, 2022, data gathered by the Ontario Collective based on January 2021 vs January 2022.

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December 2021 Market Report For Barrie

This month’s data showed a decline in sales year-over-year, down 24% compared to last December. However, the price of residential units sold continued to rise, now sitting at $854,437 which is a 29% rise compared to last year. This evidences that, the supply of homes still cannot keep pace with the demand right now. 

Year over year we’re seeing a raise in Sale Prices of over 29% with the average sale clocking in at more than $948k for 2021 – a new record. Active residential listings numbered 136 units on the market at the end of December, a considerable drop of 42% from the end of December 2020. Active listings haven’t been this low in the month of November in more than 25 years.

As prices rise and the theme of low inventory continues, now is the time to take advantage of the market and achieve maximum price for your property.

Trust your local experts to guide you through the process and take advantage of the current market.

All data correct as of January 11, 2022, data gathered by the Ontario Collective based on December 2020 vs December 2021.