In late March and April 2020, the market paused when borders closed and shutdowns began. By mid-May, inventory had dropped roughly 20 percent from the usual 600 to 650 units to around 200 units, creating a severe shortage.
A severe lack of inventory combined with an exodus of buyers from the city, internal buyers, and investors has created heavy competition. This imbalance has resulted in 10 to 20 offers on certain listings and sale prices reaching 2.5 to 5 percent over list.
Colby Marshall predicts inventory will rebound from 200 to 800 or even 1,000 units as sellers regain confidence during reopening phases. Additional new build supply in Barrie and reduced immigration buyer pools are expected to cool the market within approximately 60 days.
Yes. Dalia explains that investors holding large residential portfolios can qualify under commercial guidelines if the portfolio's rental income covers expenses. These properties can be financed at 75 percent loan-to-value with a 25-year amortization and rates around 3.5 percent.
