blog-cover-image-june7-13_2020
18 Jun

Weekly Market Update – June 7-13

It's only fair to share...Share on FacebookTweet about this on TwitterPin on PinterestEmail this to someoneShare on Reddit

Here is Mark Faris, Faris Team CEO and Broker, with the latest market performance stats for Barrie and the surrounding area, Orillia and surrounding area, and Collingwood, Midland and area.


Greater Barrie Area

After matching pre-pandemic levels two weeks ago, this market has now surpassed sales activity and continues to trend up. Sellers remain in the driver’s seat with months of inventory sitting at just 2.1. Average sale price is up 5%, and thankfully new listings are also up in volume, giving more inventory selection to active buyers. Homes that are priced right and showcase well are moving quickly, including the upper-priced market. Whether you’re looking to sell a property in an entry, mid, or upper price range, rest assured that sellers are well positioned to sell their home quickly in this growing market.

Compared to May 31-June 6

  • Average selling price is up 5% to $614K
  • 5% more homes sold
  • 3% more new listings
  • Months of inventory is 2.1, down from 2.3
  • Average days to sell is steady at 36
  • Average list-to-sale ratio is 98.3% compared to 98.0%

Southern Georgian Bay

There’s been an 18% jump in the average selling price this week, which is testament to growing confidence in sellers across Simcoe County, but especially in Southern Georgian Bay where spacious and waterfront properties are a dream to any buyer. Lots of activity this past week with 36% more homes sold, but the number of new listings are down 8%. Inventory continues to be scarce which drives this area into a sellers market.

Compared to May 31-June 6:

  • Average selling price is up 18% to $671K
  • 36% more homes sold
  • 8% fewer new listings
  • Months of inventory is 3.2 down from 4.3
  • Average days to sell is 52 compared to 45
  • Average list-to-sale ratio is 96.9%, down from 97.9%

Orillia & Surrounding Area

Another jump in average sale price this week, climbing 12% to $667k! With fewer listings on the market, months of inventory continues to creep down to just 2.3, which is resulting in quick turnover of available listings. The average days to sell in this area is more than cut in half from last week, indicating that buyers are motivated to make confident offers when they find the right property.

Compared to May 31-June 6:

  • Average selling price is up 12% to $667K
  • 5% fewer homes sold
  • 7% fewer new listings
  • Months of inventory is 2.3, down from 2.7
  • Average days to sell is  24, more than a 50% drop from 54
  • Average list-to-sale ratio is steady at 98.9%, compared to 96.6%

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 a 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.

It's only fair to share...Share on FacebookTweet about this on TwitterPin on PinterestEmail this to someoneShare on Reddit