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BDAR Stats: May 2023 Residential Sales Report

Year-Over-Year Summary

The May 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 increase in the number of units sold and months of inventory and a decrease in new listings and average sale price.

719 units were sold this month in Simcoe County, that’s 12.3% more than the same time last year. The average price of residential units sold was $791,210 which was 12.4% less than the monthly average sale price in May 2022.

237 residential units were sold during May 2023 within Barrie. This was 18.5% more than the number of units sold during May 2022. This increase was more than that of total Simcoe County (+12.3%).


The average price of residential Barrie units sold during May 2023 was $769,947—8.0% less than the average price of units sold during May 2022. Sales in Barrie accounted for 33.0% of residential sales in Simcoe County last month.


Overall inventory of homes remains above this time last year within the region with 2.6 months of inventory in Simcoe County, and lower within the City of Barrie with only 1.4 months of inventory.



Month-Over-Month Summary

The May 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 slight decrease in average sale price in Simcoe County compared to last month.

719 residential units were sold in Simcoe County last month—a 12.0% increase from April 2023. During the same time a year ago (May 2022 vs. April 2022), there was a 5.5% decrease in the number of units sold.


The average price of residential units sold last month in Simcoe County was $791,210—a 0.2% decrease from April 2023. The month-over-month change in average price a year ago was a decrease of 0.4%.


237 units were sold last month within the City of Barrie, which was 16.2% more than the number of units sold the month prior. A year ago, the number of units sold between May and April decreased by 0.5%


The average price of units sold within Barrie during May 2023 was $769,947. This was 1.9% more than the average price during April 2023. In comparison, the average price of units sold between May 2022 and April 2022 decreased by 6.2%.



Year-to-Date Summary

2,596 residential units were sold in Simcoe County during May 2023 Year-to-Date (YTD) (January 1st, 2023 – May 31st, 2023). This was 19.5% less than what was sold during the same timeframe last year (January 1st, 2022 – May 31st, 2022).


The average price of residential units sold during May 2023 YTD was $790,064. This was 17.3% less than the average price during the same timeframe a year ago.


860 units were sold in the City of Barrie during May 2023 YTD. This was a 20.4% decline from the same timeframe last year. This decline was slightly greater than what was seen in the total Simcoe Region (-19.5%).


The average price of units sold within the City of Barrie during May 2023 YTD was $745,707. This was 18.5% less than the same timeframe last year. This decline was slightly more than what was seen in the total Simcoe Region (-17.3%).




 

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 1,600 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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