Anticipating A Hot Summer Market

The numbers are out for the month of May 2016, and for the fourth month in a row, prices saw double digit increases for the Barrie market.  Average prices for a detached home in Barrie hovered around $459,000, a 20% increase over the same month last year.  In Essa Township, prices increased by 32% over May 2015, to an average price of $505,585.  In Innisfil, prices averaged $494,397, an increase of 21% over May 2015.  The total number of properties sold in our area was up 5.4% over May 2015, and posted a new all-time record.  In fact, president of the Barrie and District Association of Realtors, Mike Douglas, anticipates that based on what's already happened this year, a new record for sales activity will be set in 2016.  This, despite near record low levels of the number of homes for sale.   So while it may seem like a sellers market, buyers can still take advantage of extremely low interest rates, as we head into what looks to be a hot summer season for real estate!

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