Over the years, the real estate market in Barrie, Ontario, has continued to get better and better. Due to the level of industrial growth in the city, new structures have continued to get erected, homes are being built continually as more people, visitors and residents alike continue to demand for accommodation; the positive growth, gradually increasing the population and property types seems to be making the city a thriving location for real estate boom. Without a doubt, those in the real estate business have obviously noticed this trend and have wasted no time in keying into the future prosperity it holds; also sales of the various property types have continued to soar month after month just to show the positive effect the thriving economy is having on the real estate industry. For this reason alone, this write up has been churned out to discuss the rising trend and why investing in real estate in Barrie should be done now.
According to an analysis by experts, which was targeted at the sales of all property types from the month of January 2013, a 4.9 months inventory just to watch the market movement at the end of January of each year, beginning from the end of January 2009; there was obviously a trend and percentage increase in the sales of the properties and the market movements. As broken down by the experts, the analysis indicated that there were about 229 properties of all types which were sold by the end of January 2013 and the total value of all sales was estimated at $67 million, of which the monetary value estimates went up by two percent every year. Also, the total number of sales recorded at the end of January 2013, signified an increase of one percent when compared to January 2012, down to January 2009. For those in the real estate industry, that is a significant growth and an indication that the industry is obviously performing pretty well.
Although the analysis indicated a drop in the sales of housing properties up to about 10 percent a year earlier, there was equally a sharp comeback in sales as the year came to an end; this simply showed that even when there is a low time, due to the consistent trend in the growing economy, there will always be a demand for property sales and resale, especially in the area of housing; by January 2013, due to the increase, the city recorded about 128 residential housing sales alone, compared to the previous year which was somewhat between 90 sales and 120 sales; another improved observation. According to the same analysis, the cost of buying a home have always been on the balanced side, with a little increase from time to time, although the properties seem to appreciate each year, the cost have always been fair and readily affordable and real estate agents seem to have a filled day with demands from clients and customers.
As an example, the analysis recorded a price increase rate of the sales of homes by an association and showed how simple and fair prices are, even with inevitable increase. In January 2013, the Barrie MLS System under the city’s real estate association averaged the price of all home sales to be at about $209, 781; of which that price was just one percent higher than the average cost of housing in 2012.
The real estate industry in the city of Barrie has no doubt shown it’s prowess in the economy and is definitely a sustainable market; hence it’s just appropriate for real estate agents. Also, the market has equally shown its ability to be consistent, judging from the analysis trend conducted by experts, right from 2009 all up till date. The balance indicates a continuing and growing demand for accommodation, due to the increasing population and the thriving industrial expansion, a seemingly necessary characteristic for any thriving economy, and that is just why the city of Barrie is appropriate if one is thinking of becoming a real estate agent.
This article was written on the behalf of RE/MAX Chay, holders of the largest market share of real estate in Barrie.