CONDO REPORT: Scarce supply in 2021 caused 'huge' price hike, trend continues into 2022

Jan 27, 2022

Picture Courtesy of Ryan Gee - @ryangee www.unsplash.com

Last year was a very challenging year for buyers in the Barrie condominium market.

There were only four months in 2021 where buyers did not see competing offers on every condo unit for sale. These four months gave some buyers hope and an opportunity to finally get their foot in the door and buy a condo to call home.

During these “slower” months, minimal sellers were holding off offers when selling their condos, which caused there to be fewer bidding wars. Even though there were not as many multiple offers on condos during these months, the market was still very tight. Units were selling within 24 to 48 hours of being listed and for their asking price, if not a tad more, but buyers had the opportunity to keep necessary conditions within their offers.

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CONDO REPORT: Scarce supply in 2021 caused 'huge' price hike, trend continues into 2022

Picture Courtesy of Ryan Gee - @ryangee www.unsplash.com

Last year was a very challenging year for buyers in the Barrie condominium market.

There were only four months in 2021 where buyers did not see competing offers on every condo unit for sale. These four months gave some buyers hope and an opportunity to finally get their foot in the door and buy a condo to call home.

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