Condo Market Report

The two hottest parts of the condo market in Barrie right now are condo townhouses and units for sale under $400,000

Also, some helpful hints on how to safe if you're looking for a new abode

Two key components that drove the Barrie real estate market this year were low interest rates and increased demand from out-of-town remote workers

With the inventory so low and high demand, it's no wonder Barrie sellers are seeing fast sales and many units with multiple bids

'This does not mean that we will see prices drop, it could simply mean that we will see fewer listings hit the market, less multiple bids and average days on market could increase'

Average sale price for condo apartments in August was $447,559, while condo townhouses fetched $377,333 on average

If condo sales start to slow down, there's a chance we will move into a more balanced market this fall, says columnist

Total condominium sales in June was just short of doubling May numbers

Sale-to-list ratio rising, indicating negotiations have become tighter and properties have been selling closer to the asking price

In April, there were only 13 condo units sold, eight of which were condo apartments and five condo townhouses