April 3, 2020 – March 31,2020 marked the end of Quarter One for 2020, and residential sales information is in with residential property sales recorded through the Matrix™ System for the Barrie and District Association of REALTORS® Inc. (BDAR).
The Housing Price Index (HPI) showed a month-over-month increase of 3.90% from February 2020.
Month-Over-Month (March 2020 vs February 2020)
All Residential Homes
Simcoe County
4480 residential units were sold in Simcoe County last month—a 3.0% increase from February 2020. During the same time a year ago (February 2019 to March 2019), there was a 48.7% increase in the number of units sold.
The average price of residential units sold last month was $544,922—a 1.8% increase from February 2020. In comparison, the average price a year ago increased 1.2% from February to March.
City of Barrie
245 units were sold last month within the City of Barrie, which was 6.5% more than the number of units sold the month prior. In comparison, a year ago the number of units sold between March and February increased 85.0%.
The average price of units sold within Barrie during March was $536,528. This was 3.5% more than the average price during February 2020. In comparison, the average price of units sold between March 2019 and February 2019 also increased by 3.5%.
Simcoe County Excluding Barrie
In Simcoe County Excluding Barrie last month, 235 units were sold. This was 0.4% less than the number of units sold during February 2020. In the same time a year ago, there was a 25.9% 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 $550,928. This was 0.4% less than the month before. Between March 2019 and February 2019, the average price of units sold outside of Barrie increased 2.0%.
Year-To-Date (YTD) (March 2020 YTD vs March 2019 YTD)
All Residential Homes
Simcoe County
1205 residential units were sold in Simcoe County during March 2020 Year-To-Date (YTD) (January 1st, 2020 – March 31st, 2020). This was 31.4% more than what was sold during the same timeframe last year (January 1st, 2019 – March 31st, 2019). The average price of residential units sold during March 2020 YTD was $537,676. This was 6.1% greater than the average price during the same timeframe last year.
City of Barrie
603 units were sold in the City of Barrie during March 2020 YTD. This was a 47.8% growth from the same timeframe last year. This growth was more than that of total Simcoe County (+31.4%).
The average price of units sold within the City of Barrie during March 2020 YTD was $525,723. This was 9.6% more than the same timeframe last year, and this growth was more than what was seen in the total Simcoe region (+6.1%). During March 2020 YTD, Barrie accounted for 50.0% of residential properties sold. This was 5.5 share points more than the same timeframe during 2019.
Simcoe County Excluding Barrie
602 residential units were sold in the areas outside of Barrie during March 2020 YTD. This was 18.3% greater than the number of units sold during March 2019 YTD. This growth in number of units sold was less than what was seen in the total Simcoe region (+31.4%).
The average price of units sold during this time was $552,839. This was 5.2% greater than what was seen during March 2019 YTD. This growth was less than that of total Simcoe (+6.1%). During March 2020 YTD, Simcoe County Excluding Barrie accounted for 50.0% of residential properties sold. This was 5.5 share points less than the same timeframe during 2019.
Year-Over-Year (March 2020 vs March 2019)
All Residential Homes
The Housing Price Index (HPI) showed a year-over-year increase of 8.90% between March 2020 and March 2019.
Simcoe County
480 residential units were sold in Simcoe County last month—16.5% more than the same time last year. As well, the average price of residential units sold was $544,922 which was 6.1% greater than that of March 2019.
City of Barrie
245 residential units were sold during March 2020 within Barrie. This was 23.7% more than the number of units sold during March 2019. This growth was greater than that of total Simcoe County (+16.5%).
The average price of residential Barrie units sold during March 2020 was $536,528—9.0% greater than the average price of units sold during March 2019. This growth was greater than the average-price growth of total Simcoe County (+6.1%).
Sales in Barrie accounted for 51.0% of residential sales in Simcoe County last month. This was 3.0 share points greater than the same time last year.
Simcoe County Excluding Barrie
235 residential units were sold outside of Barrie during March 2020, and this was 9.8% greater than the number of units sold during March 2019. This growth was less than the 16.5% growth seen in the total Simcoe region.
The average price of units sold in Simcoe County Excluding Barrie last month was $550,928. This was an 2.2% increase in the average price, year-over-year. This was less than the average price growth for all of Simcoe County (+6.1%).
Residential property sales outside of Barrie accounted for 49.0% of sales in Simcoe County last month. This was 3.0 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