Now that the days are longer and the snow has almost all melted, it is likely to see more buyers in the market booking appointments to view properties. This combined with the most recent reduction in the prime lending rate, demand for real estate could increase which may cause condo sales to begin to rise in the second quarter of the year.
In February there were a total of 25 condo apartments that sold in Barrie. These units took an average of 31 days to sell and the average sale price that was recorded was $523,256. Although the average sale price decreased from January, the average days on market started to come down. This was the first sign of the market improving. When properties take less time to sell, it shows that demand has increased and buyers have become more serious.
We will see if this becomes a trend as we close out the first quarter of 2025 and move into the spring real estate market.
Last month, condo townhouse units took an average of 36 days to sell and the average sale price that was recorded was $484,750. Although the average sale price in this sector of the market also decreased month-over-month, these properties took less time to sell than in January.
When selling in a slower market with high inventory, it is important to make sure your condo looks its best, that you are priced competitively, and that you have the right marketing plan in place so that you can capture as many potential buyers as possible. Remember, you only have one opportunity to make a good first impression.
There is currently 6 months of condo inventory on the market in Barrie right now. If you are a seller and are looking to make a move, it is important to put together a plan that will set yourself apart from your competition. Buyers still have an upper hand in the current market and they will continue to take their time to make a decision as they view properties and figure out which option best suits their lifestyle.
There are currently 213 Condominiums for sale in Barrie, Ontario; 149 Condo Apartments, 49 Condo Townhouses, and 15 Lifelease Units.
*All stats are based on listings sold with the Toronto Regional Real Estate Board
CURRENTLY FOR SALE WITH BARRIE CONDO CORNER:
FOR SALE - 2 Bedroom condo at Bayshore Landing right in the heart of downtown Barrie CLICK HERE
FOR SALE - 2 Bedroom + den condo at Yonge Station Condominiums in South Barrie CLICK HERE
FOR SALE - 2 Bedroom + den Lifelease at The Terraces at Heritage Square in South Barrie CLICK HERE
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 - FEBRUARY 2025
Would like to read more about:
10 Things to Check before buying a Condominium CLICK HERE
Pets in Condos CLICK HERE
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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 :)
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