Half Year Review - 2020 vs. 2021

By: Ashley Lamb - Barrie Condominium Expert

Half Year Review - 2020 vs. 2021

Tags: barrie condos, barrie real estate, market report, condominium statistics, pandemic, stage 3, 2020 vs. 2021, Quarters 1 and 2, market updates, average sale prices, average days on market, units sold

 

During the first 6 months of 2020 there were 199 condominium units sold in Barrie. The overall average sale price was $383,778, the average days on market was just over a month and a half and units were selling for 98.5% of their original list price.  At the beginning March of 2020, the condominium market had just started to take off. Buyers and sellers were preparing for a wild spring as prices were climbing and units were taking less time to sell. Then… the pandemic hit. The real estate market paused until the final month of the second quarter.
 
Fast forward to 2021. January through to the end of June was crazy, to say the least. Sellers dominated the Barrie real estate market, leaving many buyers unhappy and stressed. There were a total of 323 condominium units that sold, with an overall average sale price of $492,550. Units were only taking 3 weeks to sell and were selling for 104.5% of their original list price, on average.
 
The real estate market always experiences peaks and valleys throughout any given year. Industry experts did not know what to expect at the beginning of the pandemic and it is interesting to now reflect on the last year and a half. There were predictions that there was going to be a recession comparable to the one in the early 90’s and others thought there was going to be growth.
 
Now that the economy has moved into stage 3 of reopening, expect a slow summer for the condo market in Barrie. After 15 months of restrictions, society will be focusing on getting out and doing things they have missed. That said, historically when there is a slow summer for real estate, it is followed by a boost in the market come the fall.

Would like to read more about:
Costs Associated with Condominium Ownership CLICK HERE

Barrie Condo Commentary - July 2021 CLICK HERE

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