October 12th, 2021 - September 30th, 2021 marked the end of Quarter Three (Q3) of 2021, and residential sales information is in with residential property sales recorded through the MLS® System for the Barrie and District Association of REALTORS® Inc. (BDAR). Q3 2021 (July 1st, 2021 – September 30th, 2021) sales activity of units sold decreased substantially as compared to Q3 2020. However, growth in average price of units sold remained strong.
Sales activity in Q3 2021 was much lower than the same time last year. In Q3 2020, the Simcoe County real estate market was in an uproar due to the delayed spring market from the pandemic. However, we see a more typical Q3 in 2021. Average price during Q3 2021 was up 28.4% as compared to Q3 2020. This was driven by a growth in average price inside and outside of Barrie.
There was a 31.5% decline in units sold compared to Q3 2020 (Q3 2021 with 2280 units sold vs Q3 2020 with 3327 units sold). Average price of homes in Simcoe County during Q3 2021 was $793,314. This was a 28.4% growth from the same timeframe last year.
The number of sales decreased 32.2% in Q3 2021 (687 units sold) when compared to Q3 2020 (1013 units sold). Home prices within Barrie increased to $752,252, which was a 30.1% increase from Q3 of last year.
Simcoe County Excluding Barrie
The number of sales decreased 31.2% in Q3 2021 (1593 units sold) when compared to Q3 2020 (2314 units sold). Simcoe County Excluding Barrie had an average price of $811,022. This was a 27.7% increase from Q3 of 2020.
The number of units sold in Innisfil during Q3 2021 was 160, 33.6% less than the number of units sold in Q3 2020. The average price of units sold in Innisfil during Q3 2021 was $876,199. This was 39.2% greater than the average price of Innisfil units sold during Q3 2020.
The number of units sold in Orillia during Q3 2021 was 163. This was 34.0% less than the number of units sold in Q3 2020. The average price of units sold in Orillia during Q3 2021 was $662,546. This was 37.2% greater than the average price of Orillia units sold during Q3 2020.
The number of units sold in Essa during Q3 2021 was 79. This was 31.3% less than the number of units sold in Q3 2020. The average price of units sold in Essa during Q3 2021 was $805,301. This was 21.8% greater than the average price of Essa units sold during Q3 2020.
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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 1,300 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