Barrie's booming real estate market
BARRIE, ONT. -- Heather Wilson took advantage of the real estate boom in Barrie.
She listed her home, and in just two days, the sold sign was up.
"We weren't sure how long we were going to be on the market and to have that kind of turnaround, and that kind of exposure and that kind of interest was quite heartwarming," Wilson says.
Wilson's house is just one of 1,119 across Simcoe County that sold in August.
According to the Barrie and District Association of Realtors (BDAR), sales are down about three per cent from July, but Barrie prices remain high.
The average listing sold was around $633,689 with demand and the pandemic inflating the market.
"If you just put everything together, you know, COVID, move away from the GTA, interest rates at two per cent, the government supporting everybody the way they have, it's almost like the perfect storm," says Keller Williams Real Estate Broker, Ian Hocking.
Hocking says nearly 50 per cent of the buyers are from the GTA now that many people are working from home and choosing to save money.
"Because of the price of the home that they have sold, or are selling in the GTA, or they can't afford to buy something in the GTA, and Barrie, relatively speaking, is still much more affordable," he says.
BDAR President Robin Jones says while low-to-mid-priced homes lead the way, there's plenty of interest in pricier properties.
"We've seen a dramatic increase in the higher value properties over this time last year. We've had 10 sales over a million dollars in August, as opposed to two sales over in August of 2019."
Meanwhile, Wilson still has to figure out her next move. "I think I'm just going to be patient, wait it out, and kind of see what the market does."