blog-cover-realstats-july-5-11-2020
16 Jul

Weekly Market Update – July 5-11

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Faris Team CEO and Broker, Mark Faris, says that new inventory is expected in coming weeks, which is great news to active buyers.


Barrie & Surrounding Area

It’s encouraging to see new listings up 20% this week, giving buyers more inventory to choose from. That said, the number of sales continue to surpass new homes put on the market, keeping sellers in the driver’s seat. Months of inventory is just 1.5, down again from last week, and this stat has consistently dropped each week since April 19. Barrie and area has long been an attractive destination for GTA buyers, and this trend has only grown in recent months thanks to more businesses giving staff flexible work-from-home options.

Compared to June 28- July 4:

  • Average selling price is up 7% to $599K
  • 30% more homes sold
  • 20% more new listings
  • Months of inventory is 1.5, down from 1.6 
  • Average days to sell is 31, up slightly from 29
  • Average list-to-sale ratio is 98.9%, down from 99.1%


Collingwood, Midland & Surrounding Area

A steady number of new listings is offset by another surge in sales this week: 17% more homes sold! Months of inventory sits at 2.2, and this number has consistently dropped since April 19. Buyers from the GTA have their compasses firmly pointed north, as price and property options offer the kind lifestyle that tops everyone’s wish list.

Compared to June 28- July 4:

  • Average selling price is $594K, down from $600K 
  • 17% more homes sold
  • 1% more new listings
  • Months of inventory is 2.2, down from 2.3
  • Average days to sell is 56, compared to 45
  • Average list-to-sale ratio is 97.9%, down slightly from 98.2%


Orillia & Surrounding Area

There was a big jump in home sales this week; with 29% more sold but just 7% more new listings, Orillia and area continues to reflect a seller’s market. Months of inventory sits at just 1.6, down from last week and continuously down week-over-week since April 19. The beautiful waterfront and range of resale and new build options appeal to buyers near and far, even those in the GTA. We expect more new inventory in coming weeks which is desperately needed in this hot market.

Compared to June 28- July 4:

  • Average selling price is down 1% to $551K
  • 29% more homes sold
  • 7% more new listings
  • Months of inventory is 1.6, down from 1.7
  • Average days is steady at 34
  • Average list-to-sale ratio is steady at 97.5%


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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