The Barrie and District Association of REALTORS saw a consistent story over 2017: Housing prices are rising at a moderate rate while housing sales dropped.
"After a fast, busy start, things levelled off in our market for 2017," says Geoff Halford, 2018 BDAR President.
"The main story was a drop in sales over the year. For example, in March 2017, there were 285 detached housins in Barrie sold. In May, there were only 193 houses sold.
the year-over-year sales dropped as well. In June 2016, there were 246 detached houses sold in Barre. But in June 2017, that number was only 32."
The 2017 and 2016 year comparison show that prices increased an average of approximately 20 percent, while the number of units sold dropped in all regions for residential detached homes.
The average price in 2017 for a residential, detached home in Barrie was up 21 percent at $554,680 compared to $465,565 in 2016. The number of homes sold was 1,756, down 25 percent from the 2,351 in 2016.
Innisfil saw a 20-percent average price increase with a 2017 home selling on everage at $602,165 compared to the average of $503,813 in 2016. The number of homes sold was down 27 percent in 2017 over the previous year.
The average house price in Oro-Medonte in 2017 was $710,388 compared to $588,785 in 2016, a 21-percent bump.
In Springwater, there was an 18-percent increase in the average selling price in 2017 at $674,068, compared to $$573,367 in 2016.
"For 2018, we are hoping for things to level out even more," adds Halford. "We'd like to see an increase in available properties for sale to help make the market more accessible to those who want to move, and also for those who want to step on the home ownership ladder."
The Barrie and District Association of REALTORS cautions that over a period of time, the use of average price information can be useful in establishing trends, but it does not indicate actual prices in widely divergent areas or account for price differentials between geographical areas.
The prices released are based on residential detached homes sold via the BDAR MLS system only.
