The average sale price in the Barrie housing market has increased by 1.1 per cent year-over-year across all property types, between January 1 and July 31, 2024 (from $759,569 in 2023 to $768,196 in 2024).
The number of sales decreased by 39.9 per cent during the same time period (from 2,418 sales in 2023 to 1,454 sales in 2024). The number of listings also decreased by 15.3 per cent (from 4,307 in 2023 to 3,647 in 2024).
Looking ahead to the fall market, the average sale price in the Barrie housing market is expected to increase by five per cent, while the number of sales may see a robust boost of roughly 20 per cent.
Barrie is currently a seller’s market, conditions that will likely persist into the fall, given the lack of inventory and a steep drop in listings.
The biggest factors contributing to the housing shortage in Barrie include:
• Not enough new listings
• Not enough new construction
• Construction delays as a result of labour shortages and increased material costs
• Exclusionary zoning/land availability
As a result of the housing shortage, move-up buyers in Barrie have been reluctant to list without assurance that they can find a property that fits their criteria, while sellers are holding out for unrealistic prices. Despite government programs and investment into new builds, the pre-construction market is stalled and not likely to address supply concerns in the short-term.
On September 4, the Bank of Canada will share its next interest rate announcement. If the Bank of Canada announces another rate cut, the market may see local activity pick up in the fall.
As a result of falling interest rates, demand in the region continues to build slowly. Buyers have been active, but the majority have opted to wait on the sidelines and are hesitant to make offers.
blog.remax.ca
blog.remax.ca
Barrie 2024 Fall
Housing Market at a Glance
Browse Local Listings
Find an Agent
Back to National Outlook
