Condo Market Report

Thanks to buyer preference, freehold houses selling faster than condo units, says columnist

'The condo sector is currently experiencing completely different trends than the freehold housing market is in Barrie,' says columnist

'Now is the perfect time for buyers to do some market research before the market potentially picks up,' says columnist

Demand still relatively low and inventory high heading into new year, creating some good opportunities for buyers, says columnist

In November, columnist says 24 condo apartments sold in Barrie with an average sale price of $513,688

'Canada seems to be on its way to a more stable economy, but it is unknown if there will be a further interest rate increase this year or in 2024,' says columnist

Increased inventory 'caused the gap between supply and demand to widen further,' says condo columnist

'In recent months, first-time buyers have been racing against the clock to buy a home before their pre-approvals expire with their lender,' says columnist

'It is suggested that housing prices may continue to come down, if there is another interest rate hike in September,' says columnist

If interest rates continue to rise, the market could soften, putting downward pressure on prices, says columnist