November 12th, 2019 – The October 2019 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 large growth in the number of units sold, month-over-month and year-over-year. This growth was driven by both Barrie and Simcoe County Excl. Barrie.
The Housing Price Index (HPI) showed a month-over-month increase of 1.15% from September 2019.
Month-Over-Month (October 2019 vs September 2019)
All Residential Homes
Simcoe County
514 residential units were sold in Simcoe County last month—a 18.2% growth from September 2019. During the same time last year (September 2018 to October 2018), there was only a 3.1% growth in the number of units sold.
The average price of residential units sold last month was $522,527—a 2.6% increase from September 2019. In comparison, the average price during 2018 decreased 3.0% from September to October.
City of Barrie
237 units were sold last month within the City of Barrie, which was 11.3% more than the number of units sold the month prior. Last year, the number of units sold between October and September increased 6.4%.
The average price of units sold within Barrie during October was $490,854. This was a 0.3% increase than the average price during September 2019. In comparison, the average price between October and September 2018 also increased by 0.3%.
Simcoe County Excluding Barrie
In Simcoe County Excluding Barrie last month, 277 units were sold. This was 24.8% greater than the number of units sold during September 2019. In comparison, during the same time last year, the number of units sold remained balanced (0%).
The average price of units sold in the areas outside of Barrie last month was $558,426. This was 5.2% more than the month before. In 2018, the average price of units sold outside of Barrie declined 5.2% during this same timeframe.
Year-To-Date (YTD) (October 2019 YTD vs October 2018 YTD)
All Residential Homes
Simcoe County
4340 residential units were sold in Simcoe County during October 2019 Year-To-Date (YTD) (January 1st, 2019 – October 31st, 2019). This was 15.5% more than what was sold during the same timeframe last year (January 1st, 2018 – October 31st, 2018).
The average price of residential units sold during October 2019 YTD was $517,735. This was 4.4% greater than the average price during the same timeframe last year.
City of Barrie
2010 units were sold in the City of Barrie during October 2019 YTD. This was a 9.2% growth from the same timeframe last year. This growth was less than that of total Simcoe County (+15.5%)
The average price of units sold within the City of Barrie during October 2019 YTD was $490,198. This was 3.3% more than the same timeframe last year, and this growth was less than what was seen in the total Simcoe region (+4.4%)
During October 2019 YTD, Barrie accounted for 46.3% of residential properties sold. This was 2.7 share points less than the same timeframe during 2018.
Simcoe County Excluding Barrie
2330 residential units were sold in the areas outside of Barrie during October 2019 YTD. This was 21.6% greater than the number of units sold during October 2018 YTD. This growth in number of units sold was greater than what was seen in the total Simcoe region (+15.5%)
The average price of units sold during this time was $539,750. This was 4.7% greater than what was seen during October 2018 YTD. This growth was similar to that of total Simcoe (+4.4%)
During October 2019 YTD, Simcoe County Excluding Barrie accounted for 53.7% of residential properties sold. This was 2.7 share points more than the same timeframe during 2018.
Year-Over-Year (October 2019 vs October 2018)
All Residential Homes
The Housing Price Index (HPI) showed a year-over-year decrease of 0.35% between October 2019 and October 2018.
Simcoe County
514 residential units were sold in Simcoe County last month—30.5% more than the same time last year. As well, the average price of residential units sold was $522,527, which was 7.6% greater than that of October 2018.
City of Barrie
237 units were sold during October 2019 within Barrie. This was 19.1% more than the number of units sold during October 2018. This growth was less than that of total Simcoe County (+30.5%).
The average price of residential Barrie units sold during October 2019 was $490,854—5.5% greater than the average price of units sold during October 2018. This growth was slightly less than the average-price growth of total Simcoe County (+7.6%).
Sales in Barrie accounted for 46.1% of residential sales in Simcoe County last month. This was 4.4 share points less than the same time last year.
Simcoe County Excluding Barrie
277 residential units were sold outside of Barrie during October 2019, and this was 42.1% greater than the number of units sold during October 2018. This growth was greater than the 30.5% growth seen in the total Simcoe region.
The average price of units sold in Simcoe County Excluding Barrie last month was $558,426. This was a 11.5% increase in the average price, year-over-year. This increase in average price was greater than the growth seen in Simcoe County (+7.6%).
Residential property sales outside of Barrie accounted for 53.9% of sales in Simcoe County last month. This was 4.4 share points 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
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