Activity in Barrie’s housing market has been brisk in 2017 as buyers continue to find great value for property types across the market.
According to the ReMax 2018 Housing Market Outlook, lower prices and proximity to the GTA continue to motivate move-over buyers to enter Barrie’s market.
This trend is expected to continue to drive demand in the region in 2018.
The RE/MAX 2018 average residential sale price expectation for Barrie is an increase of approximately 5 percent, compared to a national average o 2.5 percent.
The real estate company says the average residential sale price increased 19 percent between 2016 and 2017.
Average sale price last year was $422,506 and this year was $502,755.
The condo market is expecting an increase in inventory in the new year as development projects reach completion.
Additionally, development of thousands of acres of annexed land south of Barrie will start in 2018, leading to hundreds of new homes entering the market in the coming years.
OSFI mortgage qualification changes that come into effect January 1, 2018 may initially affect demand levels, but relative affordability compared to the GTA will continue to drive demand in the area across all property types
