Year-Over-Year Summary
The November 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.
416 units were sold this month in Simcoe County, that’s 33.8% less than the same time last year. The average price of residential units sold was $748,106 which was 11.0% less than that of November 2021.
130 residential units were sold during November 2022 within Barrie. This was 35.3% less than the number of units sold in November 2021. This decline was more than that of total Simcoe County (-33.8%).
The average price of residential Barrie units sold during November 2022 was $702,243—15.8% less than the average price of units sold during November 2021. Sales in Barrie accounted for 31.3% 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 21.3% more in Simcoe County and 3.3% less in Barrie compared to this time last year.
Month-Over-Month Summary
The November 2022 sales recorded through the MLS® System for the Barrie and District Association of REALTORS® (BDAR) showed a decrease in the number of units sold, average sale price and new listings in Simcoe County.
416 residential units were sold in Simcoe County last month—a 17.8% decrease from October 2022. During the same time a year ago (November 2021 to October 2021), there was an 11.5% decrease in the number of units sold.
The average price of residential units sold last month in Simcoe County was $748,106—a 3.5% decrease from October 2022. The month-over-month change in average price a year ago was an increase of 1.0%.
130 units were sold last month within the City of Barrie, which was 20.7% less than the number of units sold the month prior. A year ago, the number of units sold between November and October decreased by 9.9%.
The average price of units sold within Barrie during November 2022 was $702,243. This was 4.4% less than the average price during October 2022. In comparison, the average price of units sold between November 2021 and October 2021 increased by 9.3%.
Although home sales are still trending well below average levels for this time of year, looking through the seasonality on a month-to-month basis we can see that activity has stabilized at slightly higher levels over the past few months after reaching a bottom in July.
Year-to-Date Summary
6,136 residential units were sold in Simcoe County during November 2022 Year-to-Date (YTD) (January 1st, 2022 – November 30th, 2022). This was 35.2% less than what was sold during the same timeframe last year (January 1st, 2021 – November 30th, 2021).
The average price of residential units sold during November 2022 YTD was $870,725. This was 10.7% greater than the average price during the same timeframe a year ago.
2,007 units were sold in the City of Barrie during November 2022 YTD. This was a 36.1% decline from the same timeframe last year. This decline was slightly greater than what was seen in the total Simcoe Region (-35.2%).
The average price of units sold within the City of Barrie during November 2022 YTD was $834,201. This was 12.8% more than the same timeframe last year. This growth was slightly more than what was seen in the total Simcoe Region (+10.7%).
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