March 2016 Smashes Sales Records...

We have never seen anything like it in our region.  For the third month in a row, prices and activity in the Barrie area have seen double digit increases.  Barrie and District Association president Mike Douglas says the month of March "was in a league of its own, rewriting the old record for the month set back in 2010 by almost 20%."   The year-to-date average price for all homes sold in the area was $400,236 - an increase of 15% from March 2015.  To add fuel to the fire, the overall supply of listings is currently trending near the lowest levels on record - down more than 25% from a year ago.  And even with listings virtually flying off the shelves, sometimes in multiple offer situations, and sometimes over asking price, buyers can still get a great deal on mortgages.  The Bank of Canada is holding steady on its interest rate - and that means buyers have access to some of the lowest levels in interest rates we have ever seen.  So, as we head into what's expected to be an even busier Spring and Summer - happy buying and selling!  And if you have any questions about your specific real estate market - please contact me!


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