May 9, 2024
The Simcoe County real estate market maintained its stability in April, with some fluctuations observed compared to the same period last year and the previous month.
In April 2024, a total of 699 homes were sold in Simcoe County, representing a slight decrease of 8.15% compared to April 2023. However, compared to March 2024, there was a notable increase of 6.55% in the number of homes sold.
The average price of homes in Simcoe County stood at $859,161 in April 2024, showing a modest decline of 1.36% from April 2023. Similarly, compared to March 2024, there was a slight decrease of 1.45% in the average home price.
New listings in April 2024 totaled 2,041, almost unchanged from the previous year but showing a significant increase of 23.40% compared to March 2024. However, active listings surged by 52.09% year-over-year and 74.89% month-over-month, indicating a growing inventory in the market.
The months of inventory, a key indicator of market balance, increased by 65.58% year-over-year and 64.13% month-over-month.
“Despite a slight dip in sales year-over-year, buoyed by a surge in new listings, buyers enjoyed increased choices while prices held steady,” says BDAR Chair Lindsay Percy. “As we look ahead the expectation is that lower borrowing costs will allow more buyers to enter the market toward the second half of the year and into 2025, prompting tighter market conditions and higher sale prices.”
Despite some fluctuations, the Simcoe County real estate market continues to offer opportunities for both buyers and sellers, with stable pricing and increased choice.
Disclaimer
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 TRREB 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 BDAR
The Barrie & District Association of REALTORS® (BDAR) represents over 1,600 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
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