Year-Over-Year Summary
The December 2022 sales information is in, and residential property sales recorded through the MLS® System for the Barrie and District Association of REALTORS® (BDAR) region showed an overall year-over-year decrease in the number of units sold and average sale price and an increase in new listings and months of inventory.
243 units were sold this month in Simcoe County, that’s 39.4% less than the same time last year. The average price of residential units sold was $801,017 which was 7.9% less than that of December 2021.
69 residential units were sold during December 2022 within Barrie. This was 49.3% less than the number of units sold during December 2021. This decline was more than that of total Simcoe County (-39.4%).
The average price of residential Barrie units sold during December 2022 was $708,000—17.1% less than the average price of units sold during December 2021. Sales in Barrie accounted for 28.4% of residential sales in Simcoe County last month.
Overall inventory of homes remains well above this time last year. The number of new listings were 10.8% higher and 6.3% lower in Simcoe County and Barrie respectively compared to this time last year.
Month-Over-Month Summary
The December 2022 sales recorded through the MLS® System for the Barrie and District Association of REALTORS® (BDAR) showed a month-over-month decrease in the number of units sold and new listings and an increase in average sale price and new listings in Simcoe County.
243 residential units were sold in Simcoe County last month—a 42.1% decrease from November 2022. During the same time a year ago (December 2021 to November 2021), there was a 36.1% decrease in the number of units sold.
The average price of residential units sold last month in Simcoe County was $801,017—a 6.8% increase from November 2022. The month-over-month change in average price a year ago was an increase of 3.4%.
69 units were sold last month within the City of Barrie, which was 47.7% less than the number of units sold the month prior. A year ago, the number of units sold between December and November decreased by 32.3%.
The average price of units sold within Barrie during December 2022 was $708,000. This was 0.7% more than the average price during December 2022. In comparison, the average price of units sold between December 2021 and November 2021 increased 2.5%.
Although monthly sales are still trending well below year-ago levels and the general average for this time of year, the momentum heading into 2023 is much better than it was half a year ago when the market bottomed out. We are moving towards a return to more normal levels as the market rebalances between supply and demand and continues to adjust pricewise to higher interest rates.
Year-to-Date Summary
6,381 residential units were sold in Simcoe County during December 2022 Year-to-Date (YTD) (January 1st, 2022 – December 31st, 2022). This was 35.3% less than what was sold during the same timeframe last year (January 1st, 2021 – December 31st, 2021).
The average price of residential units sold during December 2022 YTD was $868,179. This was 9.9% greater than the average price during the same timeframe a year ago.
2,077 units were sold in the City of Barrie during December 2022 YTD. This was a 36.7% decline from the same timeframe last year. This decline was slightly greater than what was seen in the total Simcoe Region (-35.3%).
The average price of units sold within the City of Barrie during December 2022 YTD was $830,113. This was 11.5% more than the same timeframe last year. This growth was slightly more than what was seen in the total Simcoe Region (+9.9%).
Quarter 4 2022 Summary
1,167 residential units were sold in Simcoe County during Q4 2022 (October 1st, 2022 – December 31st, 2022). This was 32.9% less than what was sold during the same timeframe last year (October 1st, 2021 – December 31st, 2021).
The average price of residential units sold during Q4 2022 was $722,088. This was 8.5% less than the average price during the same timeframe a year ago.
365 units were sold in the City of Barrie during Q4 2022. This was a 34.8% decline from the same timeframe last year. This decline was slightly more than what was seen in the total Simcoe Region (-32.9%). The City of Barrie accounted for 31.3% of overall sales in Simcoe County during Q4 2022.
The average price of units sold within the City of Barrie during Q4 was $718,015. This was -11.4% less than the same timeframe last year. This decline was slightly more than what was seen in the total Simcoe Region (-8.5%).
There were 2263 new listings in Simcoe County during Q4 2022. This was 23.9% greater than the number of new listings during Q4 2021.
There were 597 new listings in the City of Barrie during Q4 2022 which was 4.4% greater than the number of new listings during Q4 2021
Disclaimer
The prices reflected in this media release are based on homes sold via the live Barrie and District Association of REALTORS® (BDAR) Matrix™ Multiple Listing Service (MLS®) only. Statistical anomalies in average home prices, including irregularly high and/or substantially low residential, sold unit prices have been evaluated and/or removed from the data sets used to calculate final averages in order to illustrate market trends with improved accuracy.
The Barrie & District Association of REALTORS®
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 BDAR 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 Home Price Index (HPI)
The MLS® Home Price Index (HPI) conducts an analysis based on prices for Benchmark properties tracked by the MLS® Home Price Index (HPI) for the overall market area served by the Barrie & District Association of REALTORS® Inc (BDAR). The MLS® HPI is the most accurate gauge for price levels and trends, which vary by neighbourhood. For more detailed information, please contact your local BDAR REALTOR®. To learn more visit https://www.crea.ca/housing-market-stats/mls-home-price-index/about-hpi/
About BDAR
The Barrie & District Association of REALTORS® (BDAR) represents over 1,500 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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