Market Update February 2018

Posted March 20, 2018

Here is a quick Market update snapshot of what happened in the Real Estate market in Barrie for February 2018.

During February the City of Barrie saw 139 residential sales. Sales of all property types numbered 275 units.

The average sold price within the City of Barrie was $485,483 and the average list price was $464,532. Additionally, the average days on market was 24, a decrease from last month.

OVERALL

“Sales activity remained at subdued levels in February, adding to evidence that some buyers moved up purchases in advance of the new mortgage stress test”, said the President of the Barrie and District Association of REALTORS®. Barrie has also seen a decrease in sales compared to year-over-year comparisons. The new mortgage stress test has definitely caused some of the changes in sales. It could take a few more months for the sales levels to return to traditional levels.

If you have any questions or would like to know how the changing market may affect you as a buyer or seller, contact our team today MATT 705-739-3432 or DOM 249-877-7785! We can help guide you through the new market changes.

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