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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!?

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!?

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!

The Barrie condominium market remains slow as we move through the summer months. Buyers are continuing to take their time while they wait to see if interest rates will come down further.

In June, there were a total of 23 condominium apartments that sold in Barrie, which marked the slowest month for condo apartment sales since January of this year. Although units were selling relatively close to the seller’s asking price; sale-to-list ratio was 98%, there were less properties sold because demand was low. The average sale price in June for this property type was $623,807. This figure was up quite a bit from May but that was mainly because there were a handful of luxury units that sold which pushed the average sale price up.

The condo townhouse market saw another decrease in sales in June. Last month there were a total of 6 condo townhouses that sold in Barrie with an average sale price of $500,833; down slightly from May. Although units were selling for 98% of their asking price, the average days on market doubled compared to previous months which shows that the demand for this sector of the market was not as high as it was earlier this year.

In the first half of 2024, there were a total of 202 condos that sold in Barrie, with an average sale price of $529,998. These statistics were very similar to the first two quarters of 2023. This comes as no surprise as the market has not changed much over the past year. There continues to be some uncertainty in the real estate market from both buyers and sellers and they are choosing to be cautious.

Condo inventory in Barrie continues to be high. 

If you are a buyer looking to time out the market, it may be advantageous to buy now while demand is still low and supply is high. There are many properties that have been on the market for months and some of these sellers may be motivated to negotiate in order to get their property sold. This opportunity could change if/when interest rates come down again.

If you are looking to sell, try to avoid chasing the market. Be competitive, have the right listing strategy in place and price competitively right from the start. Unfortunately, due to the slower nature of this market, it is not one to ‘test out’ for a higher price for your property. Buyers are not making decisions quickly and if you are priced too high, you will be on the market longer and may not get any viewings booked.

The next announcement from the Bank of Canada is on July 24^th, 2024. If interest rates come down further, there could be some movement from those buyers waiting on the sidelines. If rates remain unchanged, the August market could be just as slow as June and July have been.

There are currently 199 condominiums for sale in Barrie; 150 condo apartments, 33 condo townhouses and 16 leasehold condos. At the beginning of July 2023, there were 99 condos for sale in Barrie.
 
*All stats are based on listings sold with the Toronto Regional Real Estate Board
 

Would like to read more about:
 
Costs 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 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!

Condominium sales in Barrie have increased as we move through the spring real estate market. In May there were a total of 50 condos that sold, which was the highest number of condo sales recorded in a given month so far in a year.
 
Last month there were a total of 35 condo apartments that sold in Barrie with an average sale price of $534,976. These units took an average of 37 days to sell and the sale-to-list ratio was recorded as 99%. Although there has not been much change in the average sale price during the first two quarters of the year, condo apartments were taking less time to sell. To compare, in January the average sale price was $511,344 and the average days on market was 68.
 
Throughout 2024, most condo townhouses have been selling within a month of being listed. The demand for this condo type has been consistent which has made it easier for sellers to plan their move. That said, there has been some unpredictability in this sector of the market. Since January the average sale price for a condo townhouse went up and down with each passing month. In May the average sale price was $514,187; April was $569,286; March $511,267; February was $530,000, and January was $494,833. These fluctuations have made it more challenging for sellers to select a list price as well as a listing strategy.
 
Things to consider when buying in a slower, more balanced real estate market:
 
1. View as many properties as possible before making a decision. There are a large variety of condo units for sale in Barrie right now in various condominium complexes. Get a feel for each community and make sure the lifestyle is a good fit.
2. When you are ready to put in an offer, make sure to add conditions that protect your best interest. Purchasing real estate is one of the most expensive purchases you will ever make, so make sure to cover all your bases.
3. Choose a Realtor wisely. Not all agents know what each condo complex has to offer and how they differ from other buildings. There are some great opportunities for buyers to take advantage of in the current Barrie condo market.
 
Things to consider when selling in a slower, more balanced real estate market:
 
1. Be one step ahead of your competition. If you are serious about selling, it is important to price against your competitors as though they are preparing to reduce their asking price.
2. Do everything you can to make your condo unit stand out. Painting, staging and decluttering can be a lot of work, but remember, you only have one chance to make a great first impression.
3. Interview multiple Realtors. The condominium market in Barrie is quite different from the freehold housing market, so it would be wise to choose to work with a local agent who understands condo living and the unique trends in the condo market.
 
There are currently 195 condominiums for sale in Barrie, Ontario; 147 condo apartments, 33 condo townhouses and 15 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 - Completely upgraded 1894 sq foot condo in the sought after Vancouver Place Condominiums  CLICK HERE


Would like to read more about:
 
Cost Associated with Owning a Condominium?  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 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 real estate market continues to be active, though still on the slower side. Sales have decreased compared to last spring, but appointments on listings have increased slightly over the past month and people are out visiting open houses on weekends.
 
Unfortunately, there has been little urgency from buyers to make a decision on their purchase. With inventory higher than normal this quarter, buyers have been taking the opportunity to view as many properties as possible to weigh out their options. Many buyers and investors are also waiting to see what happens with interest rates over the next few weeks. The next announcement from the Bank of Canada is on June 5^th, and it is speculated that the interest rate will come down.
 
In April, there were a total of 27 condo apartments that sold in Barrie with an average sale price of $524,130. This was a 5.6% decrease in the average sale price from April 2023 and a 16.5 % decrease since the peak of the market in April 2022. Although the average sale price has remained quite level since the beginning of the year, the average days on market has started to slowly come down each month. Last month it took an average of 35 days to sell a condo apartment, which was down from 49 days in March. This was quite positive to see as a decrease in the average days on market is one of the first signs that buyer interest has begun to increase.
 
Condo townhouses have been in a higher demand among buyers over the past couple of months. This property type offers their residents a full range home with a backyard and private driveway/garage; similar to a freehold townhouse, at an affordable price. Although condo townhouses do have a monthly maintenance fee, many purchasers are okay with paying these fees for the added conveniences. The monthly maintenance fees that go along with this type of ownership varies among complexes but typically includes water, property management fees and the upkeep of the exterior of the dwelling as well as the grounds of the community.  
 
In April, there were a total of 7 condo townhouses that sold in Barrie with an average sale price of $569,286; up 11% month-over-month from March. Just like the condo apartment sector, the average days on market has slowly come down each month since the beginning of 2024. In January it was 68 days and last month it was down to 19 days. Again, this shows that interest from buyers has increased for this property type as well, and Barrie will probably continue to see this trend as we move through the first half of the year.
 
The properties that have been selling in this slower market are the ones that have unique and desirable features, as well as those that are move-in ready and show like a model home. With the increased inventory on the market, it is important for sellers to price their property competitively right from the start. This will help your condo stand out amongst the crowd.
 
In May of 2023 there were under 100 condos for sale at a given time. Inventory now is almost double that. There are currently 192 condominiums for sale in Barrie, Ontario; 144 condo apartments, 36 condo townhouses, and 12 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 - Completely renovated 1155 sq foot condo on Barrie's waterfront CLICK HERE
 
 LISTED EXCLUSIVELY WITH BARRIE CONDO CORNER - Move in ready 2 bedroom condo in Vancouver Place Condominiums. For more details please contact me directly. 


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 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!

Since the beginning of 2024, the freehold housing and the condominium markets have experienced very different trends. Freehold houses have been selling much faster than condo units, and for much closer to the seller’s asking price. This is mainly because of buyer preferences. There are simply more buyers in the current market looking to purchase a freehold house with a yard and a private driveway.
 
The real estate market is a combination of multiple sub-markets that make up a whole market. Some sub-markets in Barrie include; freehold houses, condominiums, multi-residential properties, commercial properties, and leases.  Each sub-market has their own supply and demand which influence the overall real estate market in different ways. This is why it is suggested to look at each sub-market individually to better understand the real estate trends in each sector.
 
Let’s compare the freehold housing market to the condominium market in Barrie.
 
The freehold housing market in Barrie currently has 2 months of inventory on the market. This means that if no other house came available for sale, it would take 2 months for all the freehold houses to sell. This sector of the market would be classified as a seller's market. In March, the average days on market to sell a freehold house was 19 days and the sale-to-list ratio was 99.5%.  
 
The Barrie condo market, on the other hand, is much different. There is currently 4 months of inventory for sale, which puts it in a balanced market. Last month it took an average of 41 days to sell a condo and the sale-to-list ratio was 97.8%. This is why it is important to understand the various sub-markets in the real estate industry as the professional advice given to buyers and sellers in these two sectors of the market would be quite different.
 
The Barrie condo market remains slow due the high supply of units listed for sale and demand has not caught up yet. Buyers in this market are taking their time to make a decision. There are lots of condos to choose from and they are in no rush. Sellers should remember that many buyers that purchase condos in Barrie are downsizing from a house and making a lifestyle change; which takes time. Others looking in this sector of the market may be waiting to see if interest rates come down prior to making a purchase.
 
In March there were a total of 28 condo apartments that sold in Barrie. The average sale price was $523,026; down 5% from February, with a median sale price of $480,000.
 
Last month there were 9 condo townhouses that sold in Barrie. The average sale price was $511,267; down 3.5% from February, with a median sale price of $500,000.
 
There are currently 157 condominiums for sale in Barrie; 119 condo apartments, 27 condo townhouses and 11 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 - Completely renovated 1155 sq foot condo on Barrie's waterfront CLICK HERE

Would like to read more about:
 
The Status Certificate?  CLICK HERE
What are Common Elements?  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 gap between condo supply in Barrie and demand has continued to widen as we move through the first quarter of 2024. This is because there are not as many buyers actively looking to purchase a condo in Barrie as there once was, and inventory has been slowly rising. It is expected for buyer demand to increase when interest rates come down later this year.
 
In February there were a total of 18 condo apartments that sold in Barrie. The average sale price increased slightly from January and the average days on market decreased; which are two signs of the market improving. Last month, units took an average of 46 days to sell and the average sale price that was recorded was $552,286.
 
When selling in a slower market with very high inventory, it is important to price your condo competitively or you might not capture as many potential buyers.
 
Did you know that the most serious buyers will book an appointment to view your condo within the first 10 days of listing? With that in mind, by the time you lower your price to bring it more in line with the market, those serious buyers may have already found another place to call home. You are better off pricing competitively from the start and tightening up your negotiation strategy. If you do this, you are more likely to sell in less time and could possibly net more money.
 
In February, condo townhouse units took an average of 34 days to sell and the average sale price was $530,000.  The demand in this sector of the market was very similar to January 2024, where only 6 condo townhouses sold in Barrie. In fact, the last time there were double digit condo townhouse sales in a given month was back in July 2023; the same month that the Bank of Canada last raised interest rates.
 
Last summer demand was much higher than it is now as many buyers were locked into a lower mortgage rate and wanted to purchase before their rate hold expired. These buyers were motivated to purchase as there was the fear that interest rates were going to continue to rise through the fall months.
 
It is important to know that the real estate market does not always experience the same trends. The condo sector is currently experiencing completely different trends than the freehold housing market is in Barrie. It is a much faster pace market at the moment because demand is high and listings are down. This has caused properties to sell much faster than in the condo market. This is why it is important to receive guidance from a professional that works in your specific market place on a consistent basis.
 
There are currently 130 condominiums for sale in Barrie, Ontario; 113 condo apartments and 17 condo townhouses.
 

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

Currently For Sale with Barrie Condo Corner:

FOR SALE - Completely renovated 1155 sq foot condo on Barrie's waterfront 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!