blog-cover-realstats-july-19-25-2020
30 Jul

Weekly Market Update – July 19-25

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Faris Team CEO and Broker, Mark Faris, says that between new inventory, low inventory and most sales ever, each market has its own trend this week.


Barrie & Surrounding Area

This real estate board celebrates a big achievement this week: most homes sold in 2020 with 186 units! Fewer new listings this week than last, but many more than two weeks ago where we saw a 26% dip. Sellers enjoy a steady stream of interest from both local and GTA buyers who are poised to scoop up property in this notoriously hot market.

Compared to July 12-18:

  • Average selling price is $613K, down less than 1% from $616K 
  • 9% more homes sold
  • 5% fewer new listings
  • Months of inventory is steady at 1.4
  • Average days to sell is steady at 26
  • Average list-to-sale ratio is steady at 99.1%


Collingwood, Midland & Surrounding Area

A steady week for this area, with the exception of one stat that will make buyers rejoice: 13% more new listings than last week! Months of inventory sits at just 2.0 so we anticipate these new properties will move quickly. With more houses on the market and a stronger average list-to-sale ratio, buyers and sellers alike can celebrate good news across beautiful Southern Georgian Bay.

Compared to July 12-18:

  • Average selling price is $675K, down less than 1% from $680K 
  • 4% fewer homes sold
  • 13% more new listings
  • Months of inventory is steady at 2.0
  • Average days to sell is 40, compared to 38
  • Average list-to-sale ratio is 98.4%, up from 96.7%


Orillia & Surrounding Area

Big jump in average selling price this week, which indicates some higher-priced properties sold firm. With fewer listings to choose from, average days to sell continues to sit at just 24 and sellers continue to get close to asking price. Lots of GTA traffic coming through this area, which sits perfectly between highway access and waterfront bliss.

Compared to July 12-18:

  • Average selling price is $647K, up 14% from $553K
  • 12% fewer homes sold
  • 23% fewer new listings
  • Months of inventory is 1.6, down from 1.7
  • Average days is steady is 24
  • Average list-to-sale ratio is steady at 97.8%


Want to know what this means for you as you consider buying or selling a home? We’re here to help.

Call us today at 1-888-444-9533, send us an email or schedule an in-person or Virtual 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.

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