Why is Barrie Real Estate Market Changing?

We all enjoyed the beautiful growth of the city of Barrie for quite a few years now. We’ve witnessed the development of new neighbourhoods, the steady increase in house values and many of us made some good money in this great market.

This year things are a bit different…

What are the reasons for such negative developments?

When you look back to 1996, when the Barrie Real Estate Market was just starting to rebuild itself after 6 years of steady downward spiral, you will notice that it was possible to purchase a brand new 2000 sq.ft. Bungalow on 50’x 200’ lot in desirable area of the city for $155,000.

At that time similar properties in Mississauga were selling in the $250,000 $300,000 range. With gas prices around $0.48/litre, it was beneficial, wise and easy to live in Barrie and commute to GTA for work.

Fast forward to 2002 or 2004

Those who lived here, and commuted to work in Toronto were happy, the value of their greatest asset was increasing fast.

But developments in the Middle East started to affect our pockets each time we needed to fill up our gas tanks.

Slowly prices at the pumps became outrages

It was no longer beneficial to live in the beautiful Barrie unless you had a job right here. If you traveled to Toronto every day, it was burning a deep hole in your pocket.

Sure, there is a GO Train and it offers a great benefit for those who can utilize the service. But regretfully… not everyone can.

So out came the calculators and the spread sheets. Difficult decisions had to be made in many households; For Sale signs sprouted in many neighbourhoods in hope to remedy the situation.

Those who must work in the GTA, are moving back closer to work, for one simple reason: high gas prices and higher cost of living.

But not every one is leaving

The new Park Place with shopping malls, office buildings, and recreational spaces is the huge step forward for the City. Barrie is working hard to attract outside business to come here.

This little hiccup in our Barrie Real Estate Market will not become the gaping hole some people are afraid of. We will still emerge strong , because Barrie has so much to offer.

We are still one of the best places to live in Ontario! The Gateway Community to winter fun on the slopes and Summer time at the beach. What else can you ask for?

Learn about simple ways to use the current Real Estate Market conditions to your advantage, here.

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