Spring has sprung and we are finally getting some consistently warm weather! With that we are seeing some increased activity in the housing market.
We are seeing a month-over-month increase (from March 2023) in the number of units sold (11.1% increase) and average sale price (0.5% increase), however, year-over-year we are still seeing an decrease in the number of units sold (5.3% less) and average sale price (12.6% less).
If you are contemplating a move, it’s important to chat about the nuances of the market. Reach out to us with all your real estate market questions. As always, you’ll get honest, straight-up answers! I hope you enjoy our Simcoe County Real Estate Market Update April 2023.
Scroll below the infographic all the statistics.
Simcoe County Monthly Residential Report April 2023
Year-Over-Year Summary
The April 2023 sales information is in, and residential property sales recorded through the MLS® System for the Barrie and District Association of REALTORS® (BDAR) region showed an overall year-over-year decrease in the number of units sold, new listings, and average sale price and an increase in months of inventory.
641 units were sold this month in Simcoe County, that’s 5.3% less than the same time last year. The average price of residential units sold was $792,545 which was 12.6% less than the monthly average sale price peak experienced in April 2022.
204 residential units were sold during April 2023 within Barrie. This was 1.5% more than the number of units sold during April 2022. This increase was more than that of total Simcoe County (-5.3%).
The average price of residential Barrie units sold during April 2023 was $755,382—15.3% less than the average price of units sold during April 2022. Sales in Barrie accounted for 31.8% of residential sales in Simcoe County last month.
Overall inventory of homes remains well above this time last year with 2.5 months of inventory in Simcoe County and 1.5 months of inventory in the City of Barrie.
Month-Over-Month Summary
The April 2023 sales recorded through the MLS® System for the Barrie and District Association of REALTORS® (BDAR) showed an increase in the number of units sold and average sale price, and a decrease in new listings in Simcoe County compared to last month.
641 residential units were sold in Simcoe County last month—a 11.1% increase from March 2023. During the same time a year ago (April 2022 vs. March 2022), there was a 17.9% decrease in the number of units sold.
The average price of residential units sold last month in Simcoe County was $792,545—a 0.5% increase from March 2023. The month-over-month change in average price a year ago was a decrease of 7.4%.
204 units were sold last month within the City of Barrie, which was 4.1% more than the number of units sold the month prior. A year ago, the number of units sold between April and March decreased by 25.6%
The average price of units sold within Barrie during April 2023 was $755,382. This was 4.0% more than the average price during March 2023. In comparison, the average price of units sold between April 2022 and March 2022 decreased by 4.1%.
Year-to-Date Summary
1,878 residential units were sold in Simcoe County during April 2023 Year-to-Date (YTD) (January 1st, 2023 – April 30th, 2023). This was 27.4% less than what was sold during the same timeframe last year (January 1st, 2022 – April 30th, 2022).
The average price of residential units sold during April 2023 YTD was $789,492. This was 18.5% less than the average price during the same timeframe a year ago.
623 units were sold in the City of Barrie during April 2023 YTD. This was a 29.2% decline from the same timeframe last year. This decline was slightly greater than what was seen in the total Simcoe Region (- 27.4%).
The average price of units sold within the City of Barrie during April 2023 YTD was $736,485. This was 21.0% less than the same timeframe last year. This decline was slightly more than what was seen in the total Simcoe Region (-18.5%).
