Monthly Market Update November 2020 vs. 2019

Faris Team CEO and Broker, Mark Faris, says the number of active listings this November is half to one quarter of what was available last year, and other key stats are drastically different than what 2019 delivered.

As moving north continues to trend, our populations are growing, and as a result the rental market in Barrie is also in high demand. If you’re considering an income property, there are tenants looking.

Barrie & Surrounding Area

November 2020 has outperformed 2019 in every area, except of course available inventory. Home prices rose 28%, and even with 60% fewer properties to choose from, sales were up 13% over last year. It’s no surprise that it’s taking less than 3 weeks on average to put the SOLD topper on your lawn sign, and sellers are getting full asking price, or more.

If you’re in the market to buy, and are tired of so little inventory, tap into our exclusive service: FarisVIP. This program helps buyers access homes being sold by Faris Team before they hit the open market, potentially giving you a key advantage to secure the property you’re looking for before other buyers.

Compared to November 2019:

• Home prices are up 28% from last year

• Average selling price is $667K, compared to $518K 

• 13% more homes sold

• 60% fewer active listings

• Months of inventory is 1.0 compared to 2.0

• Average days to sell is down significantly to 20, compared to 41

• Average list-to-sale ratio is 100%, up from 97.9%

Collingwood, Midland & Surrounding Area

It’s hard to believe it until you see the stats for yourself, but inventory in Collingwood, Midland and surrounding areas is down 78% from November 2019. This explains fewer home sales, as there just aren’t enough properties on the market to satisfy buyers. Months of inventory is down drastically from last year which was sitting at 5. This year, it would take only 30 days or less to sell through all listings if nothing new came on the market.

If you’re in the market to buy, and are tired of so little inventory, tap into our exclusive service: FarisVIP. This program helps buyers access homes being sold by Faris Team before they hit the open market, potentially giving you a key advantage to secure the property you’re looking for before other buyers.

Compared to November 2019:

• Average sale price is up 28%

• Average selling price is $627K, up from $490K 

• 3% fewer homes sold

• 78% fewer active listings

• Months of inventory is 1.0 compared to 5.0

• Average days to sell is 27, compared to 48

• Average list-to-sale ratio is 100.7%, up from 97.1%

Orillia & Surrounding Area

As the potential MVP of 2020, Orillia and surrounding areas report the kind of stats this November that solidify its position as a hot, hot market. Average sale price is up 34%, and despite less than one quarter of the listings it reported in 2019, there were 21% more homes sold. Sellers are enjoying full asking price, and this area is officially on every buyer’s wish list.

If you’re in the market to buy, and are tired of so little inventory, tap into our exclusive service: FarisVIP. This program helps buyers access homes being sold by Faris Team before they hit the open market, potentially giving you a key advantage to secure the property you’re looking for before other buyers.

Compared to November 2019:

• Average sale price is up 34%

• Average selling price is $646K, compared to $482K

• 21% more homes sold

• 76% fewer active listings

• Months of inventory is 1.0, down from 4.0

• Average days to sell is down to 25 from 39

• Average list-to-sale ratio is 100%, up from 97.5%

Want to know what this means for you as you consider buying or selling a home? We’re here to help and go full out for you^®.

Call us today at 1.888.918.6570, send us an email or book an appointment.

There’s absolutely NO OBLIGATION. Consultations with our team of experts are FREE.

While the information contained in this site has been presented with all due care, Faris Team assumes no responsibility or liability for any errors or omissions.