No the market isn’t crashing!

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Hey Everybody, Rich here from the Fournier Experience Real Estate Team here at Re/Max Chay, in Barrie & Simcoe County. Today, we are going to do something a little different.  We are going to give you an update from the  last 7 days. Please note that this information is pulled from the Barrie District Real Estate Board only and does not include properties that may have been listed solely on any other real estate boards.

Price decrease – 65

price increase – 2

new listing – 233

back on market – 16

conditionally sold, continue to allow showings -78

conditionally sold, no longer showing – 21

sold pending – 109

sold closed – 57

expired – 19

cancelled – 70

*includes all of Simcoe County

What does this all mean? There a lot of cancelled listings, which is unlike years past. A portion of those will show up in the 233 new listings that hit the market as many re-list, some with lowered pricing.

There are a high number of price decreases, which is something we almost never saw last year. This is a bit of a tug of war between sellers and buyers. Many sellers want to hold firm in an effort to sell for a specific price, while buyers are looking to pay a little bit less.

This is a not a stalled market – it is a liquid, active market. We are seeing properties that are over the $600k-$700k price point be a little slower as people seem to be determining whether they can afford those types of properties, while properties in the $300k-$550k range are very liquid.

If you have any questions, as always, please reach out to us with any questions you have about buying, selling or how this market may affect you.