In the month of December, there were a total of 20 condos sold in Barrie. The average sale price was $207,288 and the median was $200,500; an estimated $20,000 drop from November. This drop is expected over December as people start focusing to the holidays and many go vacationing.
Although the market tends to slowdown in December, there was one condo that sold in a short 3 days of list. This shows that no matter the time of year you list, there are always buyers looking to buy and if you price your unit right, it will sell.
Inventory is low at the moment with 25 condo apartments currently on the market and 10 townhouses. Expect supply to increase as we push through the next couple of months. There are buyers out there looking to make a move before the heat of the spring market and many investors are looking at Barrie's condo market as an investment option as the city continues to grow.
Keep in mind that the condo market is less seasonal than the housing market. If you are a seller and would like to get ahead of your competition, I would suggest planning your listing strategy soon. It is a fresh year; don’t have your neighbour be the one to dictate your list price. Be the first to go to market!
Overall the 2015 condo market in Barrie was very healthy. There were 389 condos sold with $230,416 being the average sale price, up from 2014, and the average days on market was sitting at 40 down from 48 days the previous year. As people continue to understand and appreciate what the condo lifestyle has to offer, the condo market will continue to grow. Expect a strong healthy condo market for Barrie in 2016!!
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)