blog-cover_realstats_may-10-16
21 May

Weekly Market Update – May 10-16

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


Greater Barrie Area

This continues to be a strong seller’s market, especially in Barrie, where months of inventory is 2.1 and in Essa, where months of inventory is just 1.9! Buyers who are waiting for prices to drop should know that the market doesn’t currently point to this trend, and properties are moving quickly. The average selling price is up and the list-to-sell ratio remains strong.

Compared to last week (May 3-9)

  • Average selling price is $559K, up from $546K
  • 3% fewer homes sold
  • 4% more new listings
  • Months of inventory is 3.6, down from 4.4
  • Average days to sell is steady at 35
  • Average list-to-sale ratio is 98.5%, up from 98.3%

Southern Georgian Bay

This market is slower to pick up steam and is still very favourable towards buyers. Wasaga Beach is the strongest for sellers with 4.1 months of inventory. Midland is sitting in an even market at 5.6 months of inventory, and Collingwood is strongest for buyers. The average selling price is up, and there are even more listings on the market this week, which is good news for everyone.

Compared to last week (May 3-9)

  • Average selling price is $580K, up from $516K 
  • 12% more homes sold
  • 21% more new listings
  • Months of inventory is 7.4, down from 8.5
  • Average days to sell is 56 compared to 39
  • Average list-to-sale ratio is 96.9%, up from 98.1%

There’s been a huge spike in new listings in this market the past week. 171 compared to 106 which is a 38% increase! The average price is also up to $627K. This flurry of new activity demonstrates confidence in the market. If you’re a buyer hoping to see prices drop, this week’s update doesn’t point in that direction.

Compared to last week (May 3-9)

  • Average selling price is $627K, up from $554K
  • 9% more homes sold
  • Huge jump in new listings: 171 compared to 106
  • Months of inventory is 6.3, down from 7.9
    • Orillia has only 2.8 months of inventory, making it a seller’s market
  • Average days to sell is 56 slightly up from 51
  • Average list-to-sale ratio is steady at 96.6%, compared to 96.7%

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.


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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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