The spring real estate market has arrived in Barrie and condominium sales are up! A total of 48 condo units were sold in April, which was more than half that was sold during the whole first quarter of the year. The nice weather is here to stay and hopefully the buyers are too.
Both the average and median sale prices for condo apartments had double digit increases from April which caused both to surpass the $400,000 price point; first time since the fall. Although average days on market increased by 17 days and the sale price to original list price ratio sat tight at 97%, inventory is starting to move.
There was a lot of action in the condo townhouse market in April where 20 units were sold. Barrie hasn’t seen that many condo townhouses sold in a given month for almost a year. This tells me that people are starting to look at this sector of the market as prices in the freehold market continue to slowly creep upward. The average sale price is currently $322,145 for a condo townhouse in Barrie and units are selling for 98% of their original list price.
If you are looking to sell your condominium in good time, it is so important to price competitively. Although inventory is starting to move, new condo listings are hitting the market every day. Be mindful of your competition and position yourself in the condo market accordingly.
There are currently 78 condo apartments for sale and 27 condo townhouses in Barrie. 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