Barrie, Ontario is breaking records when it comes to home sales both by unit and price.
Barrie and are residential property sales recorded 553 units in March 2016- the highest March sales recorded to date, and a 22.6 per cent from March 2015. The second highest sales for March occurred back in 2010, when 468 units were sold.
A few more stats:
The year-to-date average price figure for homes sold within the City of Barrie in 2016 was $379,227. This figure is up 17.2 per cent compared to the first quarter of 2015.
The year-to-date average price figure for the surrounding areas in 2016 was $430,407. This figure is up 11.8 per cent compared to the first quarter of 2015.
The overall supply of homes available for sale is currently trending near the lowest levels on record. Active residential listings on MLS was at 921 units at the end of March 2016, down 25.4 per cent from last year.
Mortgage interest rates have dropped below 2.50% for a 5 year fixed in the last couple of weeks which is the lowest we’ve seen.
If you’ve been wanting to do some home renovations, or pay off some higher interest debts (car loans, credit cards, lines of credit, etc.) Talk to one of us about a refinance and take advantage of the low rates and equity in your home.
Home sales information from the Canadian Real Estate Association.