BDAR Stats: February 2023 Residential Sales Report
The February 2023 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, new listings, and average sale price and an increase months of inventory.
371 units were sold this month in Simcoe County, that’s 43.4% less than the same time last year. The average price of residential units sold was $762,485 which was 24.6% less than the monthly average sale price peak experienced in February 2022.
129 residential units were sold during February 2023 within Barrie. This was 50.0% less than the number of units sold during February 2022. This decline was more than that of total Simcoe County (-43.4%).
The average price of residential Barrie units sold during February 2023 was $733,029—23.9% less than the average price of units sold during February 2022. Sales in Barrie accounted for 34.8% of residential sales in Simcoe County last month.
Overall inventory of homes remains well above this time last year with 3.9 months of inventory in Simcoe County and 2.4 months of inventory in the City of Barrie.
The February 2023 sales recorded through the MLS® System for the Barrie and District Association of REALTORS® (BDAR) showed an increase in the number of units sold and new listings, and a decrease n average sale price in Simcoe County.
371 residential units were sold in Simcoe County last month—a 27.9% increase from January 2023. During the same time a year ago (February 2022 vs. January 2022), there was a 53.6% increase in the number of units sold.
The average price of residential units sold last month in Simcoe County was $762,485—a 6.7% decrease from January 2023. The month-over-month change in average price a year ago was an increase of 2.9%.
129 units were sold last month within the City of Barrie, which was 38.7% more than the number of units sold the month prior. A year ago, the number of units sold between February and January increased by 70.9%
The average price of units sold within Barrie during February 2023 was $733,029. This was 1.4% more than the average price during January 2023. In comparison, the average price of units sold between February 2022 and January 2022 increased by 2.9%.
There’s a healthy amount of inventory on the market with a 4.5% and 12.3% increase in new listings in Simcoe County and the City of Barrie respectively compared to last month.
661 residential units were sold in Simcoe County during February 2023 Year-to-Date (YTD) (January 1st, 2023 – February 28th, 2023). This was 39.0% less than what was sold during the same timeframe last year (January 1st, 2022 – February 28th, 2022).
The average price of residential units sold during February 2023 YTD was $786,607. This was 21.3% less than the average price during the same timeframe a year ago.
222 units were sold in the City of Barrie during February 2023 YTD. This was a 45.7% decline from the same timeframe last year. This decline was slightly greater than what was seen in the total Simcoe Region (-39.02%).
The average price of units sold within the City of Barrie during February 2023 YTD was $728,685. This was 23.6% less than the same timeframe last year. This decline was slightly more than what was seen in the total Simcoe Region (-21.3%).
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/
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