Weekly Market Update January 17-24

Faris Team CEO and Broker, Mark Faris, says new listings are up from the previous week which is positive, but also expected for the time of year. More inventory for buyers to choose from is desperately needed, and bidding wars continue. List-to-sale price ratios are way up this week, and above-asking offers are more common than ever.

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 your dream property before other buyers.

Barrie & Area

Compared to the week of January 9-16:

• Average selling price is $792K, up 19%

• 30% more new listings than last week 

• 59% more homes sold

• List-to-sale ratio is strong at 106.8%

Midland & Surrounding Area

Compared to the week of January 9-16:

• Average selling price is $622K, down 30%  

• The same number of new listings came on the market

• More than double the amount of homes sold

• List-to-sale ratio is strong at 104.9 %

Orillia & Surrounding Area

Compared to the week of January 9-16:

• Average selling price is $645K, up 8%  

• 20% fewer new listings 

• 11% more homes sold

• List-to-sale ratio is extremely strong at 110%

We’re watching the market closely amidst the provincial lockdown, and are operating as an essential service to help those who need to move throughout the pandemic.

Stay safe, and remember we’re here to help and go full out^® for you.

Want to know what this means for you as you consider buying or selling a home? We’re here to make your experience stress-free.

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.