A Strong Finish and A Strong Start

"Because it's 2015" may be more than just a catch phrase attributed to our new PM.  It is also a year for the record books for the Barrie & District Real Estate Association.  Not only did the number of property sales break a record, but the year closed out seeing some of the strongest price increases, along with a record low number of listings left on the market.  And it's anticipated that demand in 2016 could be even stronger.  Board president Mike Douglas anticipates "supply will play a critical role in 2016.  If listings can keep pace with demand, we'll see another year of strong sales numbers.  If they can't, it will be reflected in prices as buyers compete for the properties that are available."  The annual average price of all homes sold last year was $373,203, an increase of almost 10% over last year.  The number of homes sold was also up almost 10%, despite low levels of inventory.  Currently, the overall supply of homes is trending downwards to some of the lowest levels on record.  However, with interest rates kept the same with the recent Bank of Canada announcement, it is still a great opportunity for both buyers and sellers to enter the real estate market!  

 

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