Faris Team CEO and Broker, Mark Faris, says that all markets reported a slight decline in major stats this week. Barrie and surrounding area saw a slight increase in average sale price, but all other core markets reported a dip here as well.
Faris Team CEO and Broker, Mark Faris, says that the market reported its highest active inventory all year in the month of May. Average sale prices are up across the board, so both buyers and sellers are primed for an already active summer season.
The Bank of Canada has announced it’s keeping its key interest rate target at 0.25%. On hold since March 2020, the central bank continues to uphold its commitment to not increase the rate until the economy has recovered.
Faris Team CEO and Broker, Mark Faris, says that each market is reflecting unique behaviour this past week, but one common statistic is that homes are still selling well over asking price.Barrie and area sales are down compared to last week, but up 100% from this time last year. Midland and area is reporting a big increase in average sale price week over week, but reflects the same range we've seen since early spring. Orillia and area has also consistently held an average sale price of over $800k, and dropped to just 12 days on market this week. Collingwood and area reports its lowest average sale price since the first week of March, and new listings are up which is good news for buyers.
Warm weather is here to stay which means many of us are spending more time enjoying the outdoors. When it comes to biking - or hiking - there is no shortage of trails to explore across Simcoe County. Here are a variety of cycling routes you’re bound to love, with gorgeous scenery and many other activities for you and your family to experience along the way.Courtesy of Barrie360.com
Faris Team CEO and Broker, Mark Faris, says that as we round the corner towards summer, a healthy supply of new listings continues to trend. Homes are still selling quickly, two weeks on average across the region, however months of inventory climbed for the first time since the end of March. Months of inventory indicates how long it would take to sell all homes if nothing came new on the market, and while it's still hovering around just one month, it's giving buyers a touch more breathing room than earlier this spring.
Faris Team CEO and Broker, Mark Faris, says that because the market paused this time last year when the first lockdown hit, April 2021 stats are comparatively well above last year.This April saw a surge of new inventory, but just as fast as For Sale signs went up, properties sold, so active inventory was down 55-65% across the region.
They say the kitchen is the heart of the home, but I’d venture that our yards rank just as high when it comes to what’s most used and most loved. Whether you’re prepping to sell this spring or making updates to list in the future, these tips will help buyers fall in love with your home before they even step foot inside.