CREA Stats: April 2022 Barrie & District Home Sales
Barrie & District Association of REALTORS® MLS® home sales moderate in April
The number of homes sold through the MLS® System of the Barrie & District Association of REALTORS® totaled 419 units in April 2022. This was down sharply by 42.2% from April 2021.
Home sales were 2.1% below the five-year average and 15.5% below the 10-year average for the month of April.
On a year-to-date basis, home sales totaled 1,699 units over the first four months of the year. This was a significant decline of 30.7% from the same period in 2021.
Within the City of Barrie, residential sales activity numbered 201 units in April 2022. This was a substantial decline of 45.7% on a year-over-year basis.
Sales activity in surrounding areas posted a large decline of 38.6% on a year-over-year basis and totaled 218 units in April 2022.
"Sales activity declined from last year’s astronomical record to the lower end of the average range for this time of year," said Luc Woolsey, President of the Barrie & District Association of REALTORS®. "New listings, on the other hand, posted a record showing for the month of April. With sales down and new listings up this meant that some much-needed supply flowed back into the market. If sales activity remains subdued compared to the red-hot activity of the past two years in the face of more interest rate increases on the horizon, we will likely see a rebalancing of the market over the remainder of the year to a point where potential buyers can finally see a more normal availability of listings from which to choose."
The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $939,500 in April 2022, up sharply by 31% compared to April 2021.
The benchmark price for single-family homes was $982,700, a substantial increase of 31.2% on a year-over-year basis in April. By comparison, the benchmark price for townhouse/row units was $682,500, a sizable gain of 27% compared to a year earlier, while the benchmark apartment price was $593,300, a substantial gain of 34.1% from year-ago levels.
The average price of homes sold in April 2022 was $973,456, a sizable gain of 21.3% from April 2021.
The more comprehensive year-to-date average price was $1,028,691, advancing 31.1% from the first four months of 2021.
The year-to-date average price figure for homes sold within the City of Barrie in April 2022 was $932,183. This was a large gain of 30.6% compared to the same month in 2021.
The year-to-date average price figure in surrounding areas in April 2022 was $1,132,142, increasing by 29.5% compared to the same month in 2021.
The Barrie & District Association of REALTORS® cautions that over time the use of average price information can be useful in establishing trends but does not indicate actual prices in widely divergent areas or account for price differentials between geographical areas.
The dollar value of all home sales in April 2022 was $407.9 million, a sharp decrease of 29.9% from the same month in 2021.
The number of new listings was up by 16.1% from April 2021. There were 1,109 new residential listings in April 2022. This was the largest number of new listings added for the month of April and was also the highest number added for any month in history.
New listings were 33.1% above the five-year average and 31.6% above the 10-year average for the month of April.
Active residential listings numbered 726 units on the market at the end of April, jumping 56.8% from the end of April 2021.
Active listings were 21.8% below the five-year average and 28.6% below the 10-year average for the month of April.
Months of inventory numbered 1.7 at the end of April 2022, up from the 0.6 months recorded at the end of April 2021 and below the long-run average of 2.4 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
BOARD & ASSOCIATION INFORMATION
The Barrie and District Association of REALTORS® Inc. covers a geographical area that includes the City of Barrie and part or all of the surrounding townships, including Springwater, Oro-Medonte, Innisfil, Essa, Bradford-West Gwillimbury and Clearview. The Association provides continuing education, Multiple Listing Service® (MLS®), statistical information, and many other services to its members.
The average price information quoted can be useful in establishing trends over time but does not indicate actual prices in centres comprised of widely divergent neighbourhoods, or account for price differentials between geographical areas.
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