June 9, 2020 – The May 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 a strong recovery from last month, as the number of residential units sold doubled.
The Housing Price Index (HPI) showed a month-over-month increase of 0.6% from April 2020.
Month-Over-Month (May 2020 vs April 2020) All Residential Homes
Simcoe County
445 residential units were sold in Simcoe County last month—a 102.3% increase from April 2020. During the same time, a year ago (April 2019 to May 2019), there was a 2.4% increase in the number of units sold.
The average price of residential units sold last month was $552,733—a 4.9% increase from April 2020. In comparison, the average price a year ago increased 1.5% from April to May.
City of Barrie
212 units were sold last month within the City of Barrie, which was 116.3% more than the number of units sold the month prior. A year ago, the number of units sold between May and April increased 9.8%.
The average price of units sold within Barrie during May 2020 was $519,915. This was 1.8% less than the average price during April 2020. In contrast, the average price of units sold between May 2019 and April 2019 increased by 1.3%.
Simcoe County Excluding Barrie
In Simcoe County Excluding Barrie last month, 233 units were sold. This was 91.0% more than the number of units sold during April 2020. In the same time a year ago, there was a 3.7% decline in the number of units sold outside of Barrie.
The average price of units sold in the areas outside of Barrie last month was $580,633. This was 10.4% more than the month before. Between May 2019 and April 2019, the average price of units sold outside of Barrie increased 3.5%.
Year-To-Date (YTD) (May 2020 YTD vs May 2019 YTD)
All Residential Homes
Simcoe County
1878 residential units were sold in Simcoe County during May 2020 Year-To-Date (YTD) (January 1st, 2020 – May 31st, 2020). This was 2.2% less than what was sold during the same timeframe last year (January 1st, 2019 – May 31st, 2019).
The average price of residential units sold during May 2020 YTD was $541,130. This was 5.7% greater than the average price during the same timeframe last year.
City of Barrie
919 units were sold in the City of Barrie during May 2020 YTD. This was a 4.4% growth from the same timeframe last year. This growth contrasted the decline in total Simcoe County (-2.2%).
The average price of units sold within the City of Barrie during May 2020 YTD was $522,265. This was 8.5% more than the same timeframe last year, and this growth was greater than what was seen in the total Simcoe region (+5.7%). During May 2020 YTD, Barrie accounted for 48.9% of residential properties sold. This was 3.1 share points more than the same timeframe during 2019.
Simcoe County Excluding Barrie
959 residential units were sold in the areas outside of Barrie during May 2020 YTD. This was 7.9% less than the number of units sold during May 2019 YTD. This decline in number of units sold was greater than the decline seen in the total Simcoe region (-2.2%).
The average price of units sold during this time was $562,775. This was 6.1% greater than what was seen during May 2019 YTD. This growth was slightly less than that of total Simcoe (+5.7%). During May 2020 YTD, Simcoe County Excluding Barrie accounted for 51.1% of residential properties sold. This was 3.1 share points less than the same timeframe during 2019.
Year-Over-Year (May 2020 vs May 2019)
All Residential Homes
The Housing Price Index (HPI) showed a year-over-year increase of 12.0% between May 2020 and May 2019.
Simcoe County
445 residential units were sold in Simcoe County last month—12.4% less than the same time last year. As well, the average price of residential units sold was $552,733 which was 7.4% greater than that of May 2019.
City of Barrie
212 residential units were sold during May 2020 within Barrie. This was 14.2% less than the number of units sold during May 2019. This decline was slightly greater than that of total Simcoe County (-12.4%).
The average price of residential Barrie units sold during May 2020 was $519,915 —5.8% greater than the average price of units sold during May 2019. This growth was less than the average-price growth of total Simcoe County (+7.4%).
Sales in Barrie accounted for 47.6% of residential sales in Simcoe County last month. This was 1.0 share point less than the same time last year.
Simcoe County Excluding Barrie
233 residential units were sold outside of Barrie during May 2020, and this was 10.7% less than the number of units sold during May 2019. This decline was slightly less than the 12.4% decline seen in the total Simcoe region.
The average price of units sold in Simcoe County Excluding Barrie last month was $580,633. This was a 7.0% increase in the average price, year-over-year. This growth was slightly less than what was found in total Simcoe County (+7.4%).
Residential property sales outside of Barrie accounted for 52.4% of sales in Simcoe County last month. This was 1.0 share point more 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