Barrie Condo Market Report - July 2019

By: Ashley Lamb - Condominium Expert

Barrie Condo Market Report - July 2019

Tags: Condos in Barrie, Average Sale Prices, Average Days on Market, First Half of 2019, Quarter 1 &2, Market Analysis/Statistics, Condominium Market Report, barrie real estate, by Ashley Lamb

With June being a busy month for most people, real estate sales tend to dip slightly as many are focused on cottaging, summer holidays and summing up both the school year and extracurricular activities. Although the number of condo units sold in Barrie decreased last month, the average and median sales prices both increased since May.
The average sale price for a condo apartment in June was $388,365 (median price $392,500) and $323,020 (median price $320,000) for condo townhouses in Barrie. Average days on market increased for both sectors to approximately a month and a half but properties that are staged and priced right at market value are selling fast.
Summing up the first half of 2019:
Although average days on market throughout the first half of the year remained relatively the same and condominiums were selling for 97% of their original list price for most of the year, one my expect there to be minimal growth. It was quite the contrary as the number of units sold almost doubled from the first to the second quarter and the average price for a condo in Barrie has gone up 7% since January.
The Barrie condo market has been very healthy this year where 73 condo units sold in Q1 and 126 in Q2. Compared to 2018 where only 364 condo units sold in Barrie for the whole year; lowest in 5 years, Barrie is heading in the right direction to exceed last year in terms of condo units sold and could possibly hit 2017’s numbers.
Inventory has gone down since the beginning of June but demand has increased. That said, I am predicting a rather good summer for condo sales in Barrie Ontario. There are currently a total of 107 condos on the market in Barrie Ontario; 79 condo apartments for sale and 22 condo townhouses. If you own a condo and are curious of its value, please reach out so we can discuss the best selling strategy for achieving your goals.

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*All stats are based on listings sold with the Barrie & District Association of Realtors