Here’s what’s happening in the real estate market in Barrie

There's been a 93.6 per cent increase in total units sold year-to-date

The real estate market in Barrie took a bit of a breather in April, a possible sign that things may be finally cooling off after months of continuous record-breaking sales figures.

Realtors in Barrie recorded 26 per cent fewer sales when comparing April to March 2021.

If you compare year-over-year data, the numbers seem outlandish but should be correlated to the start of the pandemic.

Using single detached homes as an example, there were a cosmical 265.7 per cent more homes sold in Barrie and cost home buyers an average of around 40 per cent more.

Normalcy in our housing market may return by the end of 2023

If you look at the year-to-date (YTD) figures released Friday by the Barrie and District Association of REALTORS (BDAR), it’s almost unbelievable what’s happened.

Propelled by pent-up demand, low-interest rates, speculation, blind-bidding, and an influx of work-from-home transplants, sales figures have nearly doubled.

There’s been a 93.6 per cent increase in total units sold year-to-date (April 2021 vs April 2020 YTD) and the average price skyrocketed by 40 per cent.

The April year-to-date average price in Barrie was $713,765, or 35.8 per cent more than the same timeframe last year.

You can read the full BDAR report below: