Barrie’s condo market continues to grow! The average sale price for a condo apartment in Barrie in the month of May was $250,579; a 14% increase from May of 2015. The numbers for condo townhouses were even more shocking; averaging $264,993 last month which was up from $191,009 a year ago. This was a 39% increase in average sale price for condo townhouses!!
Why such a large increase in price for condo townhouses in Barrie?
As the prices continue to rise in Barrie’s residential freehold housing market, condo townhouses are becoming more popular as they are the next best option for people looking to live in a multi level dwelling with some sort of yard. Although you need to pay monthly fees, the average price is still far below a freehold townhouse which are currently selling for an average sale price of $313,843; almost a $50,000 difference in price!! Yes you have to pay monthly fees but it’s worth it! You don’t need to worry about changing a roof, windows or any exterior maintenance.
I expect the condo market as a whole to continue to perform well and to have steady growth as we move into the summer months. Not only are condos the most affordable option for first time buyers looking to enter the real estate market but many investors are turning to condos because there is low to no maintenance involved.
In May there were a total of 31 condo apartments sold and 14 condo townhouses sold with inventory currently sitting at 22 condo apartments available and 14 condo townhouses.
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!!
firstname.lastname@example.org or 705-816-LAMB (5262)