Double Digit Increases

As we Spring forward to Daylight Savings Time, the market math is out for the month of February.  And for the second month in a row - the numbers are shocking.  Double digit increases across Barrie and surrounding areas from February 2015 to February 2016.  But even with that staggering increase, the average price for all homes sold was $410,538!  It's the first time on record that the average home price in the region has topped the $400,000 mark.  But it's still a good deal compared to homes only a few kilometres south, in the Greater Toronto Area and Toronto.  Overall, February 2016 was the second busiest month on record after February 2012.  Board president Mike Douglas says "home sales continue to trend near record levels, limited only by a lack of inventory."  He credits struggling supply trying to keep pace with demand for the dougle-digit year, year-over-year gains.  Overall supply is currently closing in on the lowest levels on record.  And so, with interest rates still at extremely low levels, now is a GREAT time for both buyers and sellers!  Give me a call or email if you have any questions about the market or real estate.  I look forward to hearing from you!

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