Barrie & District MLS® home sales remain historically strong to start 2022
The number of homes sold through the MLS® System of the Barrie & District Association of REALTORS® totaled 265 units in January 2022. This was down sharply by 14.8% from January 2021.
Home sales were 9.3% above the five-year average and 14.7% above the 10-year average for the month of January.
Within the City of Barrie, residential sales activity numbered 145 units in January 2022. This was a decline of 9.4% on a year-over-year basis.
Sales activity in surrounding areas posted a sharp decrease of 20.5% on a year-over-year basis and totaled 120 units in January 2022.
"MLS® home sales started the year right where we finished 2021, with above-average totals for January," said Luc Bouillon, President of the Barrie & District Association of REALTORS®. "There was a clear uptick in new listing during January which prevented a further decline in overall inventory. However, active listings remain below 200 homes and are hovering only slightly above the all-time low set this past December. With so few homes for buyers to choose from, there is fierce competition for any new properties that come onto the market. As a result, both the average price and the MLS® HPI composite benchmark price were up by well over 30% year-over-year. In fact, the average price broke through the $1 million dollar mark for the first time in history. If the current market conditions persist, it is reasonable to expect that prices will remain elevated for the foreseeable future."
The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $880,300 in January 2022, a substantial increase of 39.3% compared to January 2021.
The benchmark price for single-family homes was $921,900, a jump of 38.9% on a year-over-year basis in January. By comparison, the benchmark price for townhouse/row units was $640,500, a substantial gain of 36.3% compared to a year earlier, while the benchmark apartment price was $545,600, an advance of 48.1% from year-ago levels.
The average price of homes sold in January 2022 was a record $1,021,978, a jump of 34.6% from January 2021.
The year-to-date average price figure for homes sold within the City of Barrie in January 2022 was $937,146. This was a substantial increase of 35.5% compared to the same month in 2021.
The year-to-date average price figure in surrounding areas in January 2022 was $1,124,483, a substantial increase of 35.3% compared to the same month in 2021.
The Barrie & District Association of REALTORS® cautions that over time the use of average price information can be useful in establishing trends but does not indicate actual prices in widely divergent areas or account for price differentials between geographical areas.
The dollar value of all home sales in January 2022 was $270.8 million, a gain of 14.7% from the same month in 2021. This was also a new record for the month of January.
The number of new listings was up modestly by 3.4% (12 listings) from January 2021. There were 370 new residential listings in January 2022.
New listings were 16.5% below the five-year average and 19.1% below the 10-year average for the month of January.
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 over 1,400 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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