March 7, 2024
Simcoe County's real estate market continues its upward trajectory in 2024, according to the latest February Residential Market Report by the Barrie & District Association of REALTORS® (BDAR). Reflecting a positive momentum, February saw a 37.53% surge in sales totaling 557 units sold, and a modest increase of 3.40% in the average sale price to $839,675 compared to February 2023.
Despite a year-over-year decrease in new listings, Simcoe County’s real estate market continues to exhibit promising signs of growth, with new listings climbing 18.47% from last month, offering increased options for potential buyers and contributing to a balanced market environment.
Simcoe County's real estate landscape is sustained by robust population growth and a strong economy, maintaining a healthy demand for housing despite the backdrop of higher borrowing costs. The market's resilience is further underscored by the anticipation of easing interest rates, suggesting a continued positive outlook for home sales and listings in the region.
"The February market statistics are a testament to Simcoe County's vibrant real estate sector. The significant sales increase, coupled with a steady rise in average prices, reflects the robust demand and confidence in our market. The growth in new listings is particularly promising, ensuring a balanced market conducive to both buyers and sellers” said BDAR Chair, Lindsay Percy.
As the real estate market in Simcoe County continues to evolve, BDAR remains committed to providing detailed insights and analysis.
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