Barrie Real Estate in Ontario – Market Review
An Overview of Barrie City
Barrie City is one of the most beautiful waterfront communities in Canada. The city is located at Kempenfelt Bay along Lake Simcoe in Ontario Canada. As a homeowner, you stand to enjoy a variety of beaches, public walking, marinas, biking, andhiking trails, especially in the summertime. On top of that, the city offers you panoramic scenery of several nearby hills where you can showcase your skiing skills coupled with the snowmobile as well as cross-country skiing trails. If you love ice-fishing in winter or at one time have dreamt of participating in this witty fishing venture, Barrie City should be your ultimate choice.
The city is close to GTA, allowing you for reliable and easy commuting especially now that there is the availability of the daily Go Train services at your disposal. When it comes to your favorite vacation destination, places such as Georgian Bay, Wasaga Beach and Muskoka should entice you the most given that they are all situated within the shortest driving distance you can ever imagine.
With a population of approximately 154, 000 inhabitants, the 76.99 square-kilometers city offers you all the social amenities that you would receive in a city much larger while maintaining its small-town feel to its entire community. Housing is affordable and the city is dotted with magnificent parks as well as dog-parks where you can relax or have a good time with your pet.
As a matter of fact, the city was ranked third best place for investors in Ontario’s booming real estate thanks to the presence of surrounding waterfront among other features that distinguish Barrie from the rest of other places around. Most significantly, the city fits the perfect profile for any lifestyle, making it the best spot to invest.
The Real Estate Market of Barrie City, Ontario
Ontario is an investment hub with plenty of properties listed for sale. With Barrie Real Estatein place, there is always enough room for more investments in all kinds of residential and commercial structures to cater to the needs of the community around.
One thing is certain; Barrie is the 34th largest city in the country. This makes it a better place for real estate investment due to the rising demanding in affordable houses. With the highest sales figures and astronomical prices that have been witnessed in Canada’s robust real estate markets, you should not be surprised to discover that areas closest to Barrie are also experiencing an exponential growth in terms of real estate. This market has always enjoyed an endless overflow from the nearby hot markets such as that in Toronto and the closing figures in the past years have given a clear indication of the market improvements.
However, a better distinction between the Barrie area and Barrie as a city is necessary in this case scenario. This is due to the fact that all outlying properties need to be included in the calculations so that the record-breaking years come into perspective.
For instance, home sales went down by 15.4 percent in the property within Barrie city in 2015 in comparison to 2015. But the area around had an increase of 7.3 percent which helped to offset that drop in Barrie City. On the average, the year 2016 had some positive results for the sales on homes in Barrie and its environs at an increase of 15 percent. This was equivalent to 6, 032 in total sales for homes that year.
On the other hand, the sale of private homes has always set a good record for the Barrie real estate market. In recent years (2016 onwards), 6.6 percent more private homes went on sale in the city and the surrounding districts when compared to previous years. This gave rise to the total number of homes sold to 578 in the month of July 2016 and this was a record higher in sales for that month. This trend went on for the better part of the previous seven years with areas surrounding Barrie city contributing more to the increasing number of sales.
Barrie Real Estate: Best Deals
The shortage in the supply and growth of the asking prices for the properties in the city is not something new. In fact, finding the property of your choice with a relatively fair price is becoming a daunting task. This should not discourage you because there are still a handful of good deals in the real estate bargains in Barrie. What you need to do is just to act fast the moment you come across a better deal because there are many buyers waiting to lay their hands on them as soon as they step on the market. In this case, you can choose from 4 bedrooms with 3 bathrooms to 5 bedrooms depending on what you want and the amount you are willing to spend on the property.
Investing in Barrie Real Estate
The real estate business looks very promising in this region starting from the previous years. It is projected that the housing prices will increase by 4 percent as the number of immigrants seeking for employment in the city increases.
Alternatively, there is a positive indication that the real market for the existing houses will remain firm with time. On average, homes go for over $ 450,000 with single-detached increasing in its value. The average rent is expected to rise to $1158 per month for the two-bedroom apartment, a slight increase from the previous years. This means that there is a brighter future for the Barrie real estate in the next years or so.
The city of Barrie offers great opportunities for those who want to invest in real estate. The city has numerous advantages starting from its population, economy and its surrounding districts. All these factors give Barrie City an upper hand to be the next sought-after investment hub in the real estate.