In the month of January there were a total of 16 condos sold in Barrie; 14 condo apartments and 2 condo townhouses. The average sale price was $214,050 – a healthy 3.26% increase in price from December. Average days on market is sitting at a short 32 days, which is down from this time last year and only a week longer than the residential housing market. That does this tell me? The demand for condos is on the rise!!
Inventory increased in the month of January, which was expected, and will continue to as we head into the spring. Many people want to start off their year with a clean slate and decided to list early to take advantage of the mild weather. Sellers, if you want top dollar you should start thinking about listing sooner rather than later.
There are currently 35 condo apartments available and 15 condo townhouses. Keep in mind that the condo market is less seasonal than the housing market is so sales activity will remain steady throughout the year. Booms and busts do happen but at a much smaller degree.
Investors are turning to Barrie's condo market for their next investment opportunity as the Return on Investment (ROI) will be greater as Barrie experiences growth.
As people continue to understand and appreciate what the condo lifestyle has to offer, the condo market will grow. Expect a strong healthy condo market for Barrie as we move into the spring!!
There's a difference between working with an agent and working with a CONDO AGENT. Make the right decision and work with an expert!
Know of anyone looking to buy, sell or invest in a condominium? Please let me know, I love referrals!!
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