April in Barrie and the area has been another blockbuster month for the real estate market. We’ve broken the record in Barrie for 2012 with a stellar 271 sold residential properties. The average selling price is up once again at $301,390 which is a 6.25% increase from this time last year. The average days on the market are at 32 with a list-to-sale price ratio of 97.9% (which means sellers are getting almost 98% of asking price) indicating that the sellers market continues.
This doesn’t mean that buyers shouldn’t be out looking! In Barrie alone, 421 new homes came on the market (802 new listings on the entire Barrie board). There is definitely something out there for everyone. The bonus being a buyer right now is that the mortgage rates have remained stable…for the time being. You probably read Tim’s “Mortgage Monday Rate Update” this week that talks about great 5-year, and even 10-year rates!
Another aspect to keep in mind is that every neighbourhood has its own market conditions. If you have a question about a specific neighbourhood, or how your own house might fare on the market, talk to your favourite REALTOR to get the best advice.
Stay tuned for more real estate statistics every month!
