Condo Market Report

'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

In May, the average sale price for a condo townhouse in Barrie was $497,222, which was a 16 per cent decrease from April

'There are serious buyers in the market and they are ready to buy, as long as they feel they are not overpaying,' says columnist

Average condo sale price in March was down 20% from same time last year

Last month, the average sale price for a condo townhouse in Barrie was $484,160 — down from $664,417 at the peak of the market

'If you would like to review the pet rules and regulations, make sure to put a condition in our offer that protects you as a buyer,' says columnist