The Market Continues To Burn

As the May blossoms begin to bloom, finally, and the trilliums are opening along with the periwinkle, the real estate market in the Barrie area is also blooming!  Make that booming!  For the fourth month in a row, April saw double digit increases in the number of properties that were bought and sold, along with average price increases.  But even with the double digit increase, the average sale price for all homes year-to-date was $403,785 - still a bargain compared to prices in the Greater Toronto Area.  President of the Barrie and District Association of Realtors, Mike Douglas, says, "Simply put, the housing market in the Barrie region is currently the hottest it's ever been.  Sales are higher than they've ever been, which has drawn supply down to record lows, and as a result, prices are up by double digits over last year."   But some areas did see a decrease in April.  Oro-Medonte saw the average selling price go down by -19%, and Springwater saw a decrease of -11%.   And so, while interest rates are still low, the market offers good opportunities for both sellers and buyers!  

 

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