Sutton Group Incentive Realty Inc.,Brokerage*'s blog

The number of homes sold through the MLS® System of the Barrie & District Association of REALTORS® totaled 737 units in April 2021. This was more than double the levels from a year earlier, leaping 281.9% from April 2020, and was a new sales record for the month of April.

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $723,000 in April 2021, a significant gain of 37% compared to April 2020.

In March, CREA published its Quarterly Forecast. 

https://www.crea.ca/housing-market-stats/quarterly-forecasts/

Sutton Group Incentive Realty Inc. Brokerage would like to welcome some of our newest agents to the Brokerage! 

Some are brand new to the Brokerage and some have returned to the Brokerage after a period of time.

We cannot wait to see all the greatness that these agents bring to the table!

Kristy Atkinson is new to our Barrie office.

Residential sales recorded through the MLS® System for the Southern Georgian Bay region totaled 645 units in March 2021. This was more than double the levels from a year earlier, surging 106.1% from March 2020. This was also a new sales record for the month of March.

Spring has sprung at the Lakelands Board! 

From the Canadian Real Estate Association:

"The number of homes sold through the MLS® System of the Barrie & District Association of REALTORS® totaled 883 units in March 2021. This was a substantial gain of 95.8% from March 2020. This was also a new sales record for the month of March and was the highest level for any month in history.

On a year-to-date basis, home sales totaled a record 1,755 units over the first three months of the year. This was a significant increase of 58% from the same period in 2020.

March was yet another hot month for real estate sales in Ontario! With over 30,000 properties sold, this March shattered the previous sales recorded.

All stats are pulled from the Canadian Real Estate Association (CREA)

Everything old comes back into style! One of our agents, Matthew Kindou, recently sold a property that made it all over the internet, include BlogTO! 

https://www.blogto.com/real-estate-toronto/2021/04/128-letitia-street-barrie/

128 Letitia St in Barrie was listed for $599,000 and sold for over asking price. This charming property certainly retained its vintage aesthetic. 

According to Global News, Toronto home sales are up 97%

https://globalnews.ca/news/7740290/toronto-home-sales-march-2021-prices-up-demand/

The average home price increased by 16.5% year-over-year to around $1.1 million dollars. As well, home sales reached 15,652 according to TRREB. 

The Market has been hot hot hot this past year but has it gone too far? 

According to the Royal Bank of Canada, the housing market is overheating and steps must be taken to cool it down. 

https://www.businesstimes.com.sg/real-estate/canadas-biggest-bank-says-the-housing-market-is-overheating

What do you think about the housing market in Canada? Should more efforts be made to rein in the housing market?