Condo sales in Barrie were down in September.
Historically, September is the second best time of year to sell as buyers are back from summer holidays, excited about the fresh inventory listed for sale and ready to put pen to paper. Unfortunately, sales were down last month where only 28 condo units were sold in Barrie; compared to 38 in August and 43 in July, which was quite unexpected.
For the most part, the Barrie condo market has been quite steady this year with April being the strongest month in 2019 for number of units sold and having the highest average sale price.
One of the things that September had over the spring market was that condos took less time to sell. The average days on market for a condo apartment last month was 27 days and 32 days for condo townhouses.
Additionally, condominiums have been selling for 98 per cent of their original list price as opposed to 97 per cent in the spring market. Not only have units been selling faster but negotiations between sellers and buyers have tightened.
What I found interesting while doing my research for September is that there were not as many units for sale as expected. This was not because condos were selling but properties were actually being taken off the market. There were 38 condominiums that either expired or were cancelled last month bring the competition for some sellers down.
There are currently 95 condominium units for sale in Barrie right now; 75 condo apartments and 20 condo townhouses.
*All condominium statistics are from sales recorded on the Matrix System through the Barrie & District Association of REALTORS® Inc. (BDAR)