BDAR Stats: March 2023 Residential Sales Report
The March 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 in months of inventory.
573 units were sold this month in Simcoe County, that’s 30.5% less than the same time last year. The average price of residential units sold was $788,907 which was 19.4% less than the monthly average sale price peak experienced in March 2022.
195 residential units were sold during March 2023 within Barrie. This was 27.8% less than the number of units sold during March 2022. This decline was more than that of total Simcoe County (-30.5%).
The average price of residential Barrie units sold during March 2023 was $725,965—21.9% less than the average price of units sold during March 2022. Sales in Barrie accounted for 34.0% of residential sales in Simcoe County last month.
Overall inventory of homes remains well above this time last year with 2.6 months of inventory in Simcoe County and 1.5 months of inventory in the City of Barrie.
The March 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, new listings, and average sale price in Simcoe County.
573 residential units were sold in Simcoe County last month—a 54.0% increase from February 2023. During the same time a year ago (March 2022 vs. February 2022), there was a 25.8% increase in the number of units sold.
The average price of residential units sold last month in Simcoe County was $788,907—a 3.5% increase from February 2023. The month-over-month change in average price a year ago was a decrease of 3.2%.
195 units were sold last month within the City of Barrie, which was 50.0% more than the number of units sold the month prior. A year ago, the number of units sold between March and February increased by 4.7%
The average price of units sold within Barrie during March 2023 was $725,965. This was 0.8% less than the average price during February 2023. In comparison, the average price of units sold between March 2022 and February 2022 decreased by 3.5%.
Year-to-Date & Quarter 1 2023 Summary
1,235 residential units were sold in Simcoe County during March 2023 Year-to-Date (YTD) (January 1st, 2023 – March 31st, 2023). This was 35.3% less than what was sold during the same timeframe last year (January 1st, 2022 – March 31st, 2022).
The average price of residential units sold during March 2023 YTD was $787,523. This was 20.5% less than the average price during the same timeframe a year ago.
418 units were sold in the City of Barrie during March 2023 YTD. This was a 38.4% 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 March 2023 YTD was $727,108. This was 23.0% less than the same timeframe last year. This decline was slightly more than what was seen in the total Simcoe Region (-20.5%).
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