barrie spirit catcherAs we approach the half-way point in March we are still seeing a Seller’s Market here in Barrie. But what exactly is a Seller’s Market? In a Seller’s Market, home sellers are seen as having an advantage in the real estate market because the number of buyers looking for a home is greater than the number of homes on the market.

A Seller’s Market is characterized by a small inventory of homes for sale, many active buyers in the market, quick home sales and usually results in an increase in home prices, which could mean more money in your pocket!

As noted in the Barrie and District Association of REALTORS® latest market release, supply of active residential listings at the end of February numbered 992 units, down 18% from the same time last year, and the lowest level seen in the past 10 years!

Home prices are also reflecting the effects of the current Seller’s Market; the year-to-date average price in Barrie & the surrounding areas at the end of February came in at $327,845, up 9% from February 2013. As noted in this video, this increase in home prices can also been seen at the national level:

Canadian Real Estate Market

  • Homes Sales Activity – 37,000
  • Average Home Price – $389,000 – Up 9.5% from last year at this time
  • 1 year fixed rate closed mortgage rate held steady at 2.79%

So what does this mean to you? If you’ve been thinking about selling your home, now may be the right time! To find out what your home could be worth in today’s Seller’s Market, contact our team for a free, no obligation Home Evaluation, click here or call (705) 739-HILL (4455).

Please pass this article on to any friends or family who may find it interesting, and as always please don’t hesitate to contact our team with any questions about home selling, home buying or the Barrie real estate market.

Thank you,

Peggy Hill