It’s that time of the month again – Barrie & District Association of Realtors has issued their monthly market statistics for Barrie & Simcoe County. As expected, the spring market has begun, especially between the $400,000-$500,000 price range, with multiple offers being the norm. Inventory is still low, while demand has picked up. We expect this trend to continue through February and March at the very least.
If you are thinking of listing your property, now is the time. Days on market are relatively low and final sale prices are very close to, if not above, asking prices in many price ranges. Call us for a no-obligation home valuation (705-305-4206) or take a minute and explore some of our Seller resources here.
“With both the inventory of homes available for sale and the months of supply lower than last year at this time, buyers hoping for more choices of homes in 2020 may be a bit disappointed. Prices are also notably higher than a year before in most segments and with strong buyer demand and limited supply, additional increases in sales prices in the coming months would not be surprising. For the 12-month period spanning February 2019 through January 2020, Sales in the Barrie & District Association of REALTORS® service area were up 16.6 percent overall. The price range with the largest gain in sales was the $450,000 and Above range, where they increased 31.3 percent.
The overall Median Sales Price was up 4.8 percent to $495,000. The property type with the largest price gain was the Single Family Homes segment, where prices increased 5.5 percent to $540,000. The price range that tended to sell the quickest was the $200,000 to $449,999 range at 35 days; the price range that tended to sell the slowest was the $100,000 to $199,999 range at 74 days.
Market-wide, inventory levels were down 26.8 percent. The property type that lost the least inventory was the Single Family segment, where it decreased 25.4 percent. That amounts to 1.8 months supply for Single Family homes and 1.4 months supply for Townhouse/Condo.”