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Barrie Condo Corner presents - A spacious 2 bedroom + den, 2 bathroom Condo at Yonge Station Condominiums; a prime South Barrie Location!

Asking: $579,900.00 

CLICK to watch the VIRTUAL TOUR!!

Ashley Lamb - Barrie Condominium Expert with RE/MAX Hallmark Chay Realty 

705.816.5262 | [email protected] 

Would you like to read more:
Check out our latest Condo Market Report

There's a difference between working with an agent and working with a CONDO AGENT. Make the right decision and WORK WITH AN EXPERT!

Buyers looking in the Barrie real estate market continue to be cautious as we move through the first quarter of 2025. Although interest rates have come down quite a bit, some buyers may choose to wait until after they know the outcome of the Federal election before they purchase a property.

Last month, there were a total of 27 condo apartments that sold in Barrie. These units took an average of 50 days to sell, sold for 96% of the asking price and the average sale price that was recorded was $600,911. With real estate sales being slower over the past year, it may come as a surprise to hear that the average sale price for a condo apartment increased by 17% year-over-year for the month of January in Barrie. So, although the number of condo units sold over the past year was down, there was some growth in the local market.

In January there were only 8 condo townhouses that sold in Barrie and an average sale price of $513,387; up 4% from the same time last year. These units were selling for 97% of their original list price and took an average of 57 days to sell.

As you can see, units in both the condo apartment and condo townhouse sectors took longer to sell last month but it can be common to have higher days on market at the beginning of the year. The majority of properties that sell during the first month of the year tend to be inventory that was listed in November or December. This was when buyers were typically focused on the holidays and summing up their year which caused some real estate sales to be delayed and pushed into the new year.

Currently, there is over 5 months of condo inventory on the market, which puts the Barrie condominium market in a balanced state. Although this is similar to this time last year, it is more likely to see the market improve this year. The Bank of Canada has reduced the prime rate down 2% over the course of 6 announcements, which has made mortgages more affordable.

Now is the perfect time for buyers to do their market research before the market potentially picks up. Condo inventory in Barrie is high, so there are lots of properties to browse through to get a better understanding and feel for the options Barrie has to offer. There is a wide range of condominiums to choose from, each offering its own unique community atmosphere with a variety of activities and social events for residents.

There are currently a total of 182 condominiums for sale in Barrie; 125 condo apartments, 42 condo townhouses, and 15 leasehold condominiums.

*All stats are based on listings sold with the Toronto Regional Real Estate Board

Currently For Sale with Barrie Condo Corner:

 FOR SALE - 1 Bedroom condo in the Elgin Bay Club on the serene shores of Lake Couchiching in Orillia CLICK HERE
 

Read our previous report for the Barrie condo market - January 2025

Would like to read more about:

Cost Associated with Owning a Condominium CLICK HERE

The Lifestyle CLICK HERE

 
 
Would you like to stay up to date on the Barrie condo market? Subscribe to my monthly market report TODAY!
 

Thinking of making a move? We are a CONDO FOCUSED team that has served the local condo community for over 9 years and have over 20 years experience serving the condo industry. We would be honoured to have the opportunity to discuss how you can net the most money in this market. CALL TODAY to book your FREE CONDO EVALUATION :)

There's a difference between working with an agent and working with a CONDO AGENT. Make the right decision and WORK WITH AN EXPERT!

The Barrie real estate market in 2024 was not as active but it was predictable. Although the recorded number of sales were not as high as in previous years, there were two major positives. One, the Bank of Canada was able to maintain the inflation rate at its target, and two, the prime lending rate came down 1.75% over the final six months of the year.

As a recap, Q1 of 2024 was the slowest quarter for condo sales. There were 82 condominium units that sold which took an average of 47 days to sell and the average sale price that was recorded was $521,923. Barrie, Ontario started off the year with a decent amount of inventory; 105 condominiums for sale in January; and continued to increase as we moved into the spring market.

At the beginning of the second quarter there were 157 condos for sale in Barrie and by June, there were already 195. This was almost double the number of condos available compared to January. This extreme increase was from a combination of old 2023 inventory that did not sell and was re-listed, along with new condos that came available for the first time. The influx of listings that hit the market caused the market to slow further.

Between April and June, there were only 115 condominiums that sold in Barrie with an average sale price of $550,278. To put it in perspective, in 2023 there were 236 units that sold during the same period. Although sales were down in the 2024 spring market, the units that did sell sold in an average of 33 days, which was positive.

In Q3 of the year, the total number of condominium units sold decreased and the average days on market grew. This is a common market trend during the summer months as many potential buyers put their real estate search on hold and take holidays for time with family and friends. During this quarter, there were a total of 89 condominium units that sold in Barrie. These units took an average of 41 days to sell and recorded an average sale price of $532,995.

The final quarter of 2024 was more active than expected. This was highly influenced by the drop in interest rates over the second half of the year. Over this period, there were a total of 101 condominium units that sold in Barrie with an average sale price of $552,577 recorded. These units took an average of 48 days to sell and sold for 98% of the list price.

Overall, the 2024 real estate market was quite stable and predictable.

Let’s see what happened in the Barrie condo market year-over-year for the month of December.

December 2023:
1. The average sale price for condo apartments sold was $508,859.
2. The average sale price for condo townhouses sold was $468,333.
3. Units were selling for an average of 97% of their original list price.
4. Average days on market for the whole condominium sector was 32 days.

5. At the beginning of 2024, there were 105 condominiums for sale in Barrie, Ontario.  

December 2024:
1. The average sale price for condo apartments sold was $518,485.
2. The average sale price for condo townhouses sold was $530,000.
3. Units were selling for an average of 97% of their original list price.
4. Average days on market for the whole condominium sector was 35 days.

5. There are currently 164 condominiums for sale in Barrie, Ontario.  

Year-over-year for December, the average sale price for condo apartments increased by 1.9% and condo townhouses increased by 13%.
 
Things to consider when going into the Barrie real estate market in 2025:
 
1. Get into the market sooner rather than later. Throughout 2024, buyers had the advantage when negotiating offers because of the surplus in inventory. Buyers were able to take their time when making a decision and were able to put multiple conditions in their offers to help protect their interest.   

Now that interest rates have come down and the cost of borrowing is more affordable, it is speculated that the demand for condominiums may increase over the course of the year. Depending on how much the buyer demand rises, Barrie may begin to see prices start to creep upward. Right now, there are some great opportunities for buyers to purchase while the market is not as active.  

 
2. Consider listing now. Although prices may increase mid-year as a result of the drop in interest rates, there may be a lot more inventory this spring than usual. The combination of 2024 inventory that did not sell and the new inventory of 2025 could create more competition for sellers than in previous years.

3. Hire a condo specific Realtor to assist you with your condo sale or purchase. The market trends in the freehold housing market are quite different from the condominium market in Barrie. It is in your best interest to get advice or guidance from a professional that works in the condo sector regularly.

*All stats are based on listings sold with the Toronto Regional Real Estate Board

Read our previous report for the Barrie condo market - December 2024

Currently For Sale with Barrie Condo Corner:

 FOR SALE - 1 Bedroom condo in the Elgin Bay Club on the serene shores of Lake Couchiching in Orillia CLICK HERE
 

Would like to read more about:
 
Owned vs. Exclusive-Use?  CLICK HERE

Why do condo fees differ between Buildings/Corporations? CLICK HERE
 
Would you like to stay up to date on the Barrie condo market? Subscribe to my monthly market report TODAY!
 
 Thinking of making a move? We are a CONDO FOCUSED team that has served the local condo community for over 9 years and have over 20 years experience serving the condo industry. We would be honoured to have the opportunity to discuss how you can net the most money in this market. CALL TODAY to book your FREE CONDO EVALUATION :)
 
 There's a difference between working with an agent and working with a CONDO AGENT. Make the right decision and WORK WITH AN EXPERT!?

Barrie Condo Corner presents the elegance of waterfront living nestled on the serene shores of Lake Couchiching. The Elgin Bay Club in Orillia is the premiere residential condominium in Simcoe County. 

This is the lakeside lifestyle at its finest. This 1 bedroom, 1 bathroom gem boasts granite countertops, gleaming hardwood floors, tall baseboards and exquisite moulding, under the grace of 9 ft ceilings. Revel in the abundant natural light, amplifying a bright & spacious ambiance. This open concept unit features a gorgeous living area with a gas fireplace to relax and unwind by after a long day. 

Step out onto your quaint balcony overlooking lush greenery, or entertain atop the rooftop terrace with breathtaking panoramic views of the water.  The bedroom is a great size with an oversized closet and a separate walkout to a private patio. Included in the unit for your added convenience is a large laundry room with extra storage. 

Exclusive amenities include a party room, a private waterfront and heated underground parking. This unit also comes with a rare owned dock (only 25 units in this building) perfect for you to pull your boat right up to while getting to enjoy time outdoors on the water amidst the picturesque setting.  For days you don't want to take your boat out, also included is complimentary kayak storage. 

The location can’t be beat. It is a short walk to Orillia's historic downtown district that features excellent restaurants, grocery, shopping, entertainment and more. It's also right next door to the Royal Canadian Legion. For nature enthusiasts there is direct access to Millenium Trail for year-round hiking and exploring. Your tranquil retreat awaits. 

Asking: $549,900.00 

CLICK to watch the VIRTUAL TOUR!!

Ashley Lamb - Barrie Condominium Expert with RE/MAX Hallmark Chay Realty 

705.816.5262 | [email protected] 

Would you like to read more:
Check out our latest Condo Market Report

There's a difference between working with an agent and working with a CONDO AGENT. Make the right decision and WORK WITH AN EXPERT!

As 2024 comes to a close, it is a great opportunity to reflect back on the past year.

The Barrie real estate market was consistent and quite predictable. As the government had anticipated, the market responded to the rise in interest rates that were implemented in 2023. Consumers tightened up their spending which caused the inflation rate to continue to lower throughout the first half of 2024.

The Barrie real estate market was consistent and quite predictable. As the government had hoped, the market responded to the rise in interest rates that were implemented in 2023. Consumers tightened up their spending which caused the inflation rate to continue to lower throughout the first half of 2024.

After the Bank of Canada was able to maintain the inflation rate under 3% for five consecutive months, they were confident that the economy had become more stable and chose to begin to slowly lower its prime lending rate. It was announced on June 6, 2024, that prime was to come down a quarter of a point, which was the first rate reduction since March 30, 2020.

Over the course of the second half of 2024, the Bank of Canada lowered the prime lending rate five times from 7.20% down to 5.45% and was also successful with keeping inflation controlled. With the government treading lightly, it would not be surprising if prime was held at 5.45% for the first quarter of 2025.

The lowering of interest rates in the final quarter of this year had a positive impact on the Barrie condo market. Consumer confidence increased and condominium sales were consistent.

In November there were 22 condo apartments that sold in Barrie. The average sale price was $623,041 (median $557,000) and units were selling in an average of 40 days. There were also 9 condo townhouses that sold in Barrie. The average sale price for this property type was $503,793 (median $510,000) and units were selling in an average of 47 days.

The condominium market is filled with opportunity. There is currently a surplus of condo inventory in Barrie and many owners who are motivated to sell as soon as possible.

Condominiums are an excellent choice for first-time buyers and investors, as they offer affordable entry into the housing market and a low-maintenance lifestyle. With many buildings featuring amenities like fitness centres, pools, common rooms, and a social calendar, condo living fosters a sense of community. Owning a condo is an ideal choice for those who are looking for additional safety in their home and a turn-key living experience. Now is the perfect time to take advantage of this current market.

There are currently a total of 188 condominiums for sale in Barrie; 135 condo apartments, 37 condo townhouses, and 16 leasehold condominiums.

*All stats are based on listings sold with the Toronto Regional Real Estate Board

Read our previous report for the Barrie condo market - November 2024

Currently For Sale with Barrie Condo Corner:

 FOR SALE - 1 Bedroom condo in the Elgin Bay Club on the serene shores of Lake Couchiching in Orillia CLICK HERE
 

Would like to read more about:
 
Common elements. CLICK HERE
Costs associated with condo ownership. CLICK HERE
 
Would you like to stay up to date on the Barrie condo market? Subscribe to my monthly market report TODAY!
 
 Thinking of making a move? We are a CONDO FOCUSED team that has served the local condo community for over 9 years and have over 20 years experience serving the condo industry. We would be honoured to have the opportunity to discuss how you can net the most money in this market. CALL TODAY to book your FREE CONDO EVALUATION :)
 
 There's a difference between working with an agent and working with a CONDO AGENT. Make the right decision and WORK WITH AN EXPERT!?

Ordering a status certificate before buying a condominium is a crucial step when considering condo living. The status certificate provides a comprehensive snapshot of the financial and legal condition of the corporation, as well as the policies that could affect the resident’s ownership experience.

By reviewing the condominium documentation before buying, you could:

• Avoid unexpected costs or hidden financial liabilities.
• Make sure that the rules and lifestyle of the condo align with your needs.
• Avoid potential legal issues that could impact your investment.

The status certificate includes information about:

The financial health of the condominium complex: the maintenance fees, reserve fund balance, and any outstanding debts or special assessments.

The rules and regulations: pet restrictions, rules about rentals and tenants, and what renovations are allowed in the condo units.

Any unit-specific details: unpaid fees or rule violations linked to the unit.

Any legal matters: pending lawsuits or legal disputes.

A copy of the corporation’s insurance policy.

In short, reviewing a status certificate, attachments and the minutes of the last meeting prior to firming up on a purchase is a safeguard that will help you make an informed decision about your condo purchase. It should also provide you with more confidence about your move and should help your closing go smoother.

CLICK HERE to read more about Status Certificates

The Barrie condominium market continues to be on a slower trend through the final quarter of the year as sellers in Barrie wait for buyers to make a decision on a purchase. However, it is predicted that real estate sales will rise in 2025 now that Canada has had four consecutive rate adjustments and the cost of borrowing has gone down.

Many buyers that were looking to purchase real estate in Barrie put their search on hold to wait and see how the market was going to respond to the hike in interest rates after the peak of the market in 2022.

After the inflation rate in Canada rose from 0.7%; when the world pandemic was announced, to 8.1% in 2022, the Bank of Canada implemented one of the most aggressive monetary policy tightening campaigns in history and raised the prime lending rate 10 times in order to bring the rate of inflation down. It was absolutely crucial for the Federal Government to step in to help stabilize the Canadian economy as 8.1% was the highest inflation rate recorded since the early 1980s recession. 

The increase in interest rates caused the consumer to reduce their spending and, over  time, helped bring the inflation rate down to the targeted rate in just  under a year. After these positive efforts and 6 months of maintaining the inflation rate  around 2.8%, the central bank felt comfortable enough to begin to slowly  reduce the prime rate over the second half of this year.

Although it was speculated that buyers would start to become more active again after interest rates started to decrease, that has not been the case. Buyers have continued to wait on the sidelines for the real estate market to become more predictable which has caused the Barrie condo market to continue to slow. With the demand for condos in Barrie down and the supply at an all time high, there is still room for the market to soften further as we move into the new year. 

Some questions that come to mind are:

1.  Is this the bottom of the market? 

2.  Now that interest rates have come down, will demand for real estate go up in 2025, putting upward pressure on prices on residential property in Barrie?

Since the peak of the condo market in Barrie in 2022, the average sale price for a condo apartment has fluctuated quite a bit but as of last month, this sector is now only down by 9%. The condo townhouse market, on the other hand, has been more active over the years but in comparison is down 24% from the peak of the market. 

Last month, there were a total of 24 condo apartments that sold in Barrie, Ontario. The average sale price was $587,292 and it took an average of 54 days to sell. Also in October, there were 14 condo townhouses that sold with an average sale price of $516,036 and the average days on market was 37. 

With the Canadian inflation rate now sitting at 1.6% and interest rates coming down, it is good to see the economy becoming more stable as we close out 2024. This perceived stability could potentially boost consumer confidence to increase as the real estate market is starting to feel seemingly more predictable. These are all positive signs of a healthy real estate market for 2025. 

There are currently a total of 221 condominiums for sale in Barrie; 160 condo apartments, 43 condo townhouses, and 18 leasehold condominiums.

*All stats are based on listings sold with the Toronto Regional Real Estate Board

Currently For Sale with Barrie Condo Corner:

FOR SALE - 1 Bedroom condo in the Elgin Bay Club on the serene shores of Lake Couchiching in Orillia. CLICK HERE

FOR SALE - Modern 3 bedroom condo townhouse in the sought after Wasaga Heights in Wasaga Beach. CLICK HERE

Would like to read more about:
 
Common elements. CLICK HERE
Costs associated with condo ownership. CLICK HERE

Would you like to stay up to date on the Barrie condo market? Subscribe to my monthly market report TODAY!

Thinking of making a move? We are a CONDO FOCUSED team that has served the local condo community for over 9 years and have over 19 years experience serving the condo industry. We would be honoured to have the opportunity to discuss how you can net the most money in this market. CALL TODAY to book your FREE CONDO EVALUATION :)

There's a difference between working with an agent and working with a CONDO AGENT. Make the right decision and WORK WITH AN EXPERT!?

The Barrie condo market has been quite steady over the summer. The number of condo units that have sold has been consistent and the market has been relatively predictable.

In August there were a total of 25 condo apartments that sold in Barrie. These units took an average of 48 days to sell and the average sale price was $572,369; which was down 3% from July. Although it took longer for these condos to sell compared to July, the total number of units that sold was the highest recorded in a given month since May of this year.

The condo townhouse sector in Barrie did not see a change in the average sale price month-over-month in August but the average days on market to sell has increased. It took an average of 43 days to sell a condo townhouse in Barrie last month and only 6 units sold, which shows that it was a slower month for this property type.

That said, this is not out of the norm and in fact, is quite typical for an August real estate market. During the summer months, many buyers and sellers tend to travel and take time to be outdoors causing property sales to decline or level off. Over the past two summers, the Barrie condominium market followed a more traditional trend; compared to the pandemic years, and was quite slow.

Months of inventory has gone down slightly from last month but there is still over 6 months of condo inventory on the market in Barrie, Ontario. The reduction in interest rates will eventually help with this surplus in properties for sale, but it will take time. Sellers should continue to price competitively if they are looking to sell. Buyers are taking their time and are not making decisions quickly so it is best for sellers to remain patient and look at all angles of the market when determining a list price and marketing strategy.

The September market so far has been unusually slow. But, there is a chance that the market could pick up a bit after this beautiful summer weather is behind us.

Something to keep in mind is that when the Bank of Canada announces a change to their policy rate, there is normally a 3 month lag before we really see the market respond to the change. There have been 3 rate cuts since June, but it does not seem to be enough to urge buyers to make a decision. We might not see sales increase until buyers are confident that interest rates are not going to decrease any further. The next announcement from the Bank of Canada will be on October 24^th, 2024.

There are a total of 226 condominiums for sale in Barrie, Ontario; 162 condo apartments, 44 condo townhouses, and 20 leasehold condos.

 *All stats are based on listings sold with the Toronto Regional Real Estate Board 

Currently For Sale with Barrie Condo Corner:

FOR SALE - 1 Bedroom condo in the Elgin Bay Club on the serene shores of Lake Couchiching in Orillia  CLICK HERE

FOR SALE - Modern 3 bedroom condo townhouse in the sought after Wasaga Heights in Wasaga Beach  CLICK HERE 

Would like to read more about:
 
Condo Ownership?  CLICK HERE
Owned vs Exclusive-Use?  CLICK HERE

Would you like to stay up to date on the Barrie condo market? Subscribe to my monthly market report TODAY!

Thinking of making a move? We are a CONDO FOCUSED team that has served the local condo community for over 9 years and have over 19 years experience serving the condo industry. We would be honoured to have the opportunity to discuss how you can net the most money in this market. CALL TODAY to book your FREE CONDO EVALUATION :)

There's a difference between working with an agent and working with a CONDO AGENT. Make the right decision and WORK WITH AN EXPERT!