Wow, what a year, filled with highs and lows, and a strong and weak market often when we didn`t expect it.
This year, there were a couple factors which made 2010 like any other.
First of all, we had a very mild Winter, so the Spring market started early, and we began seeing very strong numbers in active and sold listings in February and March. For Barrie, we saw listings rise from 665 in January to 1067 in March, and solds doubling during this time.
The second impact was the implementation of HST, and the huge misconceptions that came with it. Many people, some of who still don`t fully understand HST, thought that they would be paying an additional tax on the price of their resale home, which of course, is just not true. So what we saw due to this, is in increase in both listings and sales during March, April, and May, and then things slowing down in June, July and August, where typically the market stays strong during those months.
Overall, although unpredictable, this year we saw solds down dramatically year over year, down by about 10%. Although, on the positive side, we also saw the average price increase in Barrie up by about 4.46%, year over year. Meaning that although there were fewer solds, the homes that did sell saw good value.
For more information, or a full statistical analysis on these trends, or other areas such as Essa, Springwater, or Oro, please call or email us anytime.
Cheers, June & Rock