CRIPPS REALTY UPDATE
Hello Hello
It has been an up and down past year that is for sure but we still must be thankful as we are very lucky! I also think so many of us have now have learned to appreciate the little things and are even touring around Ontario when allowed, and seeing what expansive beauty we have in our own backyard.
Did you guys see our March $2,500 winner? I absolutely love these mornings and wish they could be given away every day but hey once a month is better than nothing and this momma of 6 was definitely overjoyed. I just hope next month the person (/people as two families could win) don’t think it's an April Fool’s joke lol. If you wanted to nominate someone please don’t hesitate to send a written or video submission to info@crippshomes.com and tell us who you are and who they are and why you think they’re deserving. They must live in Simcoe County and must be over the age of 18.
How have you guys been keeping busy, the kids entertained, and not going to stir crazy? Tobogganing, hiking, arts and crafts, game nights? I trust you have all been well, however, I can not say the same for a friend of mine and fellow woman superhero entrepreneur Victoria Adams.
Did you know the average age in Barrie is 38.9?! I think that is hilarious and fitting, as I turn 39 next month so I am literally the average person in the whole city lol. Anywho that is our average age and the only place that beat us for a younger demographic in Simcoe County was Essa squeaking in slightly under us with 37 year olds running the pack there.
There has been no sign of the market slowing down and I will go over inventory and all that jazz but even with having more inventory we are still lacking. I know that doesn’t really make sense but even with more listings we still have way more buyers hence the lack of inventory. Here are some recent places we sold. Get 'em while they’re hot or they’ll be gone!
72% of 25–35 year old’s who don’t own homes said they plan on buying in the near future and over 40% of them say they have more money in their account in March of this year than they did in March of last year! Why is that? Some have moved home with parents, they aren’t dining out, they’re not going to concerts, they aren’t jet setting, they don’t care about new clothes as no one is really seeing them, they aren’t buying bottle service at night clubs, saving money on gas by working from home, etc.
And yes you probably heard fixed-rate mortgages have gone up but that doesn’t mean the low-interest rates are over. If you have a fixed rate or variable rate mortgage for that matter already it doesn’t affect you. It only affects people who don’t have one yet who haven’t already locked in a rate for 90 or so days. Also in all reality even if you fall into that grouping it's only gone up a quarter-point which is only $12.00 on every $100,000 borrowed so it's not so drastic as people think.
Did you know that in ALL of Canada the places that have seen the most increase in the average purchase price, Barrie ranked number 4!! Now some of you want to pat yourself on the back and say “Yippee” and others think, “Poop how will my kids ever buy”. The average home in all of Canada in one month alone went up $14,400. In one month!! And in some areas, like Oakville for example, in one month their average home went up to $73,600!
Lets just say you lived in Toronto and rented but were approved for a $700,000 mortgage. There are currently 19 out of their 1362 listings that are under $700,000. That’s it, and you wonder why they are flocking here like crazy. They come up here and feel like they won the lottery.
Last month 835 homes sold in Simcoe County, which was 34% more than February 2020 and the highest February ever on record. Also, the average sales price was $744,944 whereas last year it was $532,961. That’s 39.8% more!
In Barrie alone, 345 homes sold which were 50% over last year's February and you guessed it the average sales price was also up. In February 2021 it was $709,987 and in February 2020 was $519,636.
In the rest of Simcoe County numbers also climbed more than $200k. 490 properties sold outside of Barrie (but still in County) up 24.7% over last February and the average sales price was $769,557 whereas last year it was $540,758.
When we look at February of this year versus last year and different stylings of homes it is as follows
Another chart I often show you guys too is year-to-date.
Okay if you’re not going cross-eyed by now, then I am lol. So we are also less than a month until we have to be out of our Commerce Park Drive property. Here are some shots of the new spot and construction along the way. Tiles going in next week, doors to be hung and lights to go up and outside needs a facelift too. All of this 13-degree weather lately will help.