March 10th, 2020 – The February 2020 sales information is in, and residential property sales recorded through the Matrix™ System for the Barrie and District Association of REALTORS® Inc. (BDAR) region showed strong month-over-month growth in the number of units sold.
The Housing Price Index (HPI) showed a month-over-month increase of 1.97% from January 2020.
Month-Over-Month (February 2020 vs January 2020)
All Residential Homes
Simcoe County
466 residential units were sold in Simcoe County last month—a 77.2% increase from January 2020. During the same time a year ago (January 2019 to February 2019), there was only a 19.9% increase in the number of units sold.
The average price of residential units sold last month was $535,490 —a 3.5% increase from January 2020. In comparison, the average price a year ago increased 4.6% from January to February.
City of Barrie
230 units were sold last month within the City of Barrie, which was 78.3% more than the number of units sold the month prior. A year ago, the number of units sold between February and January increased by 3.9%.
The average price of units sold within Barrie during February was $518,198. This was 2.8% more than the average price during January 2020. In comparison, the average price of units sold between February 2019 and January 2019 increased by 5.2%.
Simcoe County Excluding Barrie
In Simcoe County Excluding Barrie last month, 236 units were sold. This was 76.1% more than the number of units sold during January 2020. In the same time a year ago, there was a 32.8% increase in the number of units sold outside of Barrie.
The average price of units sold in the areas outside of Barrie last month was $552,911. This was 3.0% more than the month before. Between February 2019 and January 2019, the average price of units sold outside of Barrie increased 7.1%.
Year-to-Date (YTD) (Febraury 2020 YTD vs February 2019 YTD)
All Residential Homes
Simcoe County
731 residential units were sold in Simcoe County during February 2020 Year-To-Date (YTD) (January 1st, 2020 – February 29th, 2020). This was 43.3% more than what was sold during the same timeframe last year (January 1st, 2019 – February 28th, 2019). The average price of residential units sold during February 2020 YTD was $530,179. This was 7.0% greater than the average price during the same timeframe last year.
City of Barrie
361 units were sold in the City of Barrie during February 2020 YTD. This was a 70.3% growth from the same timeframe last year. This growth was more than that of total Simcoe County (+43.3%).
The average price of units sold within the City of Barrie during February 2020 YTD was $510,502. This was 9.3% more than the same timeframe last year, and this growth was more than what was seen in the total Simcoe region (+7.0%) During February 2020 YTD, Barrie accounted for 49.4% of residential properties sold. This was 7.8 share points more than the same timeframe during 2019.
Simcoe County Excluding Barrie
370 residential units were sold in the areas outside of Barrie during February 2020 YTD. This was 24.2% greater than the number of units sold during February 2019 YTD. This growth in the number of units sold was less than what was seen in the total Simcoe region (+43.3%).
The average price of units sold during this time was $544,262. This was 5.5% greater than what was seen during February 2019 YTD. This growth was less than that of total Simcoe (+7.0%). During February 2020 YTD, Simcoe County Excluding Barrie accounted for 50.6% of residential properties sold. This was 7.8 share points less than the same timeframe during 2019.
Year-Over-Year (Febraury 2020 vs February 2019)
All Residential Homes
The Housing Price Index (HPI) showed a year-over-year increase of 5.19% between February 2020 and February 2019.
Simcoe County
466 residential units were sold in Simcoe County last month—68.2% more than the same time last year. As well, the average price of residential units sold was $535,490 which was 5.5% greater than that of February 2019.
City of Barrie
230 residential units were sold during February 2020 within Barrie. This was 115.0% more than the number of units sold during February 2019. This growth was greater than that of total Simcoe County (+68.2%).
The average price of residential Barrie units sold during February 2020 was $518,198—8.9% greater than the average price of units sold during February 2019. This growth was greater than the average-price growth when compared to the total of Simcoe County (+5.5%).
Sales in Barrie accounted for 49.4% of residential sales in Simcoe County last month. This was 10.7 share points greater than the same time last year.
Simcoe County Excluding Barrie
236 residential units were sold outside of Barrie during February 2020, and this was 38.8% greater than the number of units sold during February 2019. This growth was less than the 68.2% growth seen in the total Simcoe County Region.
The average price of units sold in Simcoe County Excluding Barrie last month was $552,911. This was a 4.7% increase in the average price, year-over-year. This increase in average price was slightly less than the growth found in total Simcoe County (+5.5%).
Residential property sales outside of Barrie accounted for 50.6% of sales in Simcoe County last month. This was 10.7 share points less than the same time last year.
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 almost 1,000 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