'It’s insane where the market has gone': Barrie's 'luxury' housing landscape explodes, study shows

Picture Courtesy of Jason Grant - @jgrant1 www.unsplash.com

If I had a million dollars, I could buy a house. But I wouldn’t be rich, not in Barrie and not right now.

A new report shows explosive growth of “luxury” real estate in Barrie last year. Luxury in the national Re/Max Canada 2022 Luxury Market Report is defined as being a house that sells at $1 million or higher; outside of Toronto and Vancouver, a $3-million house is considered a luxury.

The report, which was released Thursday, found 18 of the 19 regions examined recorded percentage increases in the double and triple digits.

In Barrie, the number of million-dollar properties sold shot up 517.8 per cent to 278 houses sold from 45 the previous year.

Elsewhere in Ontario, sales of homes priced over $1 million climbed 255.1 per cent, 208 per cent and 199.5 per cent respectively in London, Kitchener-Waterloo and Hamilton.

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