June 8th, 2021 – The May 2021 sales information is in, and residential property sales recorded through the Matrix™ System for the Barrie and District Association of REALTORS® (BDAR) region showed a levelling off in the number of units sold. In April, we saw a month-over-month decline in the number of units sold and this trend continued into May. This could represent that the Simcoe County housing market is beginning to cool off and that April was not just a one-off drop.
Month-Over-Month (May 2021 vs April 2021) All Residential Homes
The Housing Price Index (HPI) showed a month-over-month increase of 0.2% from April 2021.
Simcoe County
1,063 residential units were sold in Simcoe County last month—a 10.1% decrease from April 2021. During the same time a year ago (April 2020 to May 2020), there was a 94.3% increase in the number of units sold.
The average price of residential units sold last month was $800,516—a 3.1% increase from April 2021. This growth was less than the month-over-month change in average price a year ago (6.7%).
City of Barrie
366 units were sold last month within the City of Barrie, which was 0.8% less than the number of units sold the month prior. A year ago, the number of units sold between May and April grew 111.2%.
The average price of units sold within Barrie during May 2021 was $743,752. This was 2.3% greater than the average price during April 2021. In comparison, the average price of units sold between May 2020 and April 2020 decreased 1.7%.
City of Barrie – Apartments & Condos
55 apartment and condo units were sold in Barrie last month—10.0% more than the number of units sold in April 2021. The average price of apartment and condo units sold in the City of Barrie this month was $503,620—0.8% more than the average price in April 2021.
Simcoe County Excluding Barrie
In Simcoe County Excluding Barrie last month, 697 units were sold. This was 14.4% less than the number of units sold during April 2021. At the same time a year ago, there was an 86.7% 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 $830,323. This was 4.0% more than the month prior. Between May 2020 and April 2020, the average price of units sold outside of Barrie increased 11.0%.
Innisfil
73 residential units were sold in Innisfil last month—a 22.3% decrease from April 2021. During the same period a year ago (April 2020 to May 2020), there was a 184.2% increase in the number of units sold. The average price of residential units sold in Innisfil last month was approximately $766,406—a 7.3% decrease from April 2021. This contrasted the growth from last year when the average price increased 14.2% from April to May.
Orillia
72 residential units were sold in Orillia last month — a 24.2% decrease from April 2021. During the same period a year ago (April 2020 to May 2020), there was a 114.3% increase in the number of units sold. The average price of residential units sold in Orillia last month was approximately $683,251—a 12.0% increase from April 2021. The average price a year ago decreased 4.3% from April to May.
Essa
In Essa last month, 44 residential units were sold. This was 30.2% less than last month. During the same period a year ago, there was a 52.6% increase in the number of units sold. The average price of residential units sold in Essa last month was $784,461— a 3.6% increase from April 2021. This time last year, the average price had a nominal change from April 2020 to May 2020.
Year-to-Date (YTD) (May 2021 YTD vs May 2020 YTD)
All Residential Homes
Simcoe County
4,872 residential units were sold in Simcoe County during May 2021 Year-To-Date (YTD) (January 1st, 2021 – May 31st, 2021). This was 88.6% more than what was sold during the same timeframe last year (January 1st, 2020 – May 31st, 2020). The average price of residential units sold during May 2021 YTD was $767,564. This was 44.8% greater than the average price during the same timeframe last year.
City of Barrie
1,733 units were sold in the City of Barrie during May 2021 YTD. This was an 89.6% growth from the same timeframe last year. This growth was slightly greater than the increase in total Simcoe County (+88.6%).
The average price of units sold within the City of Barrie during May 2021 YTD was $720,106. This was 37.3% more than the same timeframe last year. This growth was less than what was seen in the total Simcoe region (+44.8%). During May 2021 YTD, Barrie accounted for 35.6% of residential properties sold. This was 0.2 share points more than the same timeframe during 2020.
City of Barrie – Apartments & Condos
233 apartment and condo units were sold in Barrie during May 2021 YTD—83.5% more than the number of units sold in May 2020 YTD. The average price of apartment and condo units in the City of Barrie this year so far was $479,005. This was 23.8% more than the average price during the same timeframe last year.
Simcoe County Excluding Barrie
3,139 residential units were sold in the areas outside of Barrie during May 2021 YTD. This was 88.1% more than the number of units sold during May 2020 YTD. This growth in number of units sold was slightly less than the growth seen in the total Simcoe region (+88.6%).
The average price of units sold during this time was $793,764. This was 48.8% greater than what was seen during May 2020 YTD. This growth was greater than that of total Simcoe (+44.8%). During May 2021 YTD, Simcoe County Excluding Barrie accounted for 64.4% of residential properties sold. This was 0.2 share points less than the same timeframe during 2020.
Innisfil
363 residential units were sold in Innisfil during May 2021 YTD. This was 68.8% more than what was sold during the same timeframe last year (January 1st, 2020 – May 31st, 2020). The average price of residential units sold in May 2021 YTD was $824,095. This was 52.4% greater than the average price during the same timeframe last year. During this time, Innisfil accounted for 7.5% of sales in Simcoe County—down 0.9 share points from the same timeframe last year.
Orillia
370 residential units were sold in Orillia from the beginning of 2021 to May 31st, 2021. This was 90.7% more than what was sold during the same timeframe last year (January 1st, 2020 – May 31st, 2020). The average price of residential units sold during May 2021 YTD was $627,434. This was 47.1% greater than the average price during the same timeframe last year. During May 2021 YTD, Orillia accounted for 7.6% of sales in Simcoe County, 0.1 share points more than that of May 2020 YTD.
Essa
234 residential units were sold in Essa during May 2021 YTD. This was 81.4% more than what was sold during the same timeframe last year (January 1st, 2020 – May 31st, 2020). The average price of residential units sold in May 2021 YTD was $773,095. This was 42.2% greater than the average price during the same timeframe last year. During this time, Essa accounted for 4.8% of sales in Simcoe County—down 0.2 share points from the same timeframe last year.
Year-Over-Year (May 2021 vs May 2020)
All Residential Homes
The Housing Price Index (HPI) showed a 37.8% year-over-year increase between May 2021 and May 2020.
Simcoe County
1,063 residential units were sold in Simcoe County last month—73.1% greater than the same time last year. As well, the average price of residential units sold was $800,516, which was 47.2% greater than that of May 2020.
City of Barrie
366 residential units were sold during May 2021 within Barrie. This was 76.8% more than the number of units sold during May 2020. This growth was greater than that of total Simcoe County (+73.1%).
The average price of residential Barrie units sold during May 2021 was $743,752—42.9% greater than the average price of units sold during May 2020. This growth was less than the average-price growth of total Simcoe County (+47.2%). Sales in Barrie accounted for 34.4% of residential sales in Simcoe County last month. This was 0.7 share points more than the same time last year.
City of Barrie – Apartments & Condos
55 apartment and condo units were sold in Barrie during May 2021 — 175.0% greater than the number of units sold in May 2020. The average price of apartment and condo units in the City of Barrie in May 2021 was $503,620. This was 43.6% more than the average price during the same time last year.
Simcoe County Excluding Barrie
697 residential units were sold outside of Barrie during May 2021, and this was 71.3% more than the number of units sold during May 2020. This growth was less than the 73.1% growth seen in the total Simcoe region.
The average price of units sold in Simcoe County Excluding Barrie last month was $830,323. This was a 49.5% increase in the average price, year-over-year. This growth was greater than what was found in total Simcoe County (+47.2%). Residential property sales outside of Barrie accounted for 65.6% of sales in Simcoe County last month. This was 0.7 share points less than the same time last year.
Innisfil
73 residential units were sold in Innisfil during May 2021, and this was 35.2% more than the number of units sold during May 2020. This growth was less than the 73.1% growth seen in the total Simcoe region. The average price of units sold in Innisfil last month was approximately $766,406. This was a 35.4% increase in the average price, year-over-year. This growth was less than what was found in total Simcoe County (+47.2%). Sales in Innisfil accounted for 6.9% of sales in Simcoe County during May 2021. This was 1.9 share points less than Innisfil’s share of sales during the same time last year.
Orillia
72 residential units were sold in Orillia during May 2021, and this was 60.0% greater than the number of units sold during May 2020. This growth was less than the 73.1% growth seen in the total Simcoe region. The average price of units sold in Orillia last month was approximately $683,251. This was a 55.4% increase in the average price, year-over-year. This growth was greater than what was found in total Simcoe County (+47.2%). Orillia’s sales made up 6.8% of sales in Simcoe County. This was 0.5 share points less than the same time last year.
Essa
44 residential units were sold in Essa during May 2021, and this was 51.7% more than the number of units sold during May 2020. This growth was less than the 73.1% growth seen in the total Simcoe region. The average price of units sold in Essa last month was approximately $784,461. This was a 52.4% increase in the average price, year-over-year. This growth was greater than what was found in total Simcoe County (+47.2%). Sales in Essa accounted for 4.1% of sales in Simcoe County during May 2021. This was 0.6 share points less than Essa’s share of sales during 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 1,300 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