The spring real estate market in Barrie, Ontario has been slower this quarter than anticipated.
The increase in units for sale has continued to widen the gap between the supply and demand for condominiums. As inventory increased, demand experienced minimal movement which caused the market to be much slower this quarter. It is unfortunate that the reduction of interest rates has not stimulated the real estate market this spring as much as sellers had hoped for.
In April, there were a total of 21 condo apartments that sold in Barrie. The average sale price for these units was $482,024 and they sold in an average of 33 days. Also noted, there were three condo apartments sold under $300,000 so far this year, which has not happened since 2021. Based on this, if inventory continues to rise and demand remains relatively the same, we could see prices soften further.
Condo townhouse sales were down quite a bit from March with only 4 condo townhouse sales recorded last month. These units sold in an average of 24 days and for an average sale price of $524,750.
It was interesting to see that the average days on market came down quite a bit in both the condo apartment and condo townhouse sectors. This shows that more sellers priced their homes more in line with the current market conditions and their results were a faster sale. This might be the first sign of an improving market.
It appears that buyers are continuing to take their time and are slowly weeding through the inventory that is currently for sale. Unless a buyer falls in love with a property when they first walk into the home, they are being patient and are waiting for the right property to come along before putting in an offer. This is why it is so important for sellers to have an attractive price and that their homes look their very best right from the start.
There are currently 271 Condominiums for sale in Barrie, Ontario; 206 Condo Apartments, 62 Condo Townhouses, and 4 Lifelease Units. This is the most condo inventory that Barrie has ever seen on the market at a given time.
*All stats are based on listings sold with the Toronto Regional Real Estate Board
CURRENTLY FOR SALE WITH BARRIE CONDO CORNER:
FOR SALE - Garden view with rare owned boat slip on Lake Couchiching CLICK HERE
FOR SALE - 3 Bedroom condo townhouse in quiet community and walking distance to all of Bayfield's amenities CLICK HERE
FOR SALE - 2 Bedroom + den condo at Yonge Station Condominiums in South Barrie CLICK HERE
Read our previous report for the Barrie condo market - APRIL 2025
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Costs Associated with Condo Ownership CLICK HERE
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