BDAR Stats: August 2024
- BDAR
- Sep 10, 2024
- 2 min read
The Barrie & District Association of REALTORS® (BDAR) reports a varied performance in Simcoe County's real estate market for August 2024, reflecting both year-over-year growth and month-over-month moderation as market conditions continue to adjust.
Simcoe County home sales in August 2024 were down by 2.93% year-over-year, with 564 homes sold, a slight decrease from the 581 sales in August 2023. Month-over-month, sales also showed a decline, falling by 6.31% compared to July 2024. Despite these declines, the average sale price rose by 1.15% year-over-year to $837,825, though it dropped by 1.84% from July 2024.
New listings in August 2024 reached 1,685, up by 5.38% year-over-year, but decreased by 10.61% month-over-month. Active listings also saw significant growth, increasing by 35.25% year-over-year to 3,461, indicating a well-stocked market. The months of inventory for August 2024 increased by 39.32% year-over-year, reaching 6.14 months, suggesting a shift toward more balanced market conditions.
BDAR Chair Lindsay Percy remarked, "The August statistics reflect a market that is balancing itself after a period of heightened activity. With active listings growing and inventory levels rising, buyers are benefiting from more choices, while sellers are still experiencing stable demand. This equilibrium is helping to create favorable conditions for both sides of the market."
As BDAR continues to track market changes, its commitment to providing accurate, timely insights remains strong, helping buyers and sellers navigate the evolving Simcoe County real estate landscape.
Disclaimer
The Barrie & District Association of REALTORS® cautions that over a period of time, the use of average price information can be useful in establishing trends, but it does not indicate actual prices in widely divergent areas or account for price differentials between geographical areas. The prices reflected in this media release are based on homes sold via the live TRREB MLS® system only.
Using a Local Professional REALTOR®
“REALTOR®” is a professional designation. A REALTOR® is a licensed real estate professional belonging to local, provincial and national associations. They have completed an intensive real estate program and have the skill set, expertise and experiences that you will need when buying or selling your home. Realtors® have a network of resources available at their fingertips. They understand financing and mortgage rules, insurance and liability coverage, and all the legal details involved in real estate. As a skilled negotiator, your local BDAR Realtor® will help you get the most value when buying or selling a home.
About BDAR
The Barrie & District Association of REALTORS® (BDAR) represents over 1,600 REALTORS® in the Barrie and Simcoe County region. BDAR provides its members leadership opportunities, professional development, and other tools and services to help them deliver a high standard of services to their clients. BDAR is community‐focused and believes that community prosperity is largely based on shelter and home ownership. The Association has a strong focus on affordable housing and helping first‐time buyers understand how to get on the housing ladder. To learn more visit https://bdar.ca
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