I decided to research the current economic health of the luxury home market in Barrie and the surrounding area. I believe this is an important segment of the market and I say that because it is an indicator of the confidence in the overall economy. If the people with money are spending, in many cases that can lead to a positive trickle down effect, and result in more positive actions such as hiring, and expansion.
I looked at homes in Barrie and the surrounding areas including Oro, Springwater and Innisfil and searched for homes priced between $700,000 to $1,000,000.
Number of sales in 2008: 22
Number of sales in 2009: 27
Number of sales in 2010: 29
Number of sales in 2011: 38
Number of sales in 2012: 47 (This is a 24 % increase over 2011 and a 113% increase over 2008!)
I believe these are very good indicators of a strong Real Estate market that is improving year over year and I can’t wait to get going in 2013!