Another month of statistics are in and we are bringing you your Simcoe County Real Estate Market Update April 2024! We are seeing a year-over-year decline of 8.15% units sold vs April 2023, but a month-over-month increase in sales from March 2024 by 6.55% in Simcoe County as a whole. Average price, however, has dropped year-over-year (1.36%) AND month-over-month (1.45% to $859,161). We are also seeing a big influx of properties on the market, with 2,800 active listing in April 2024 vs 1,601 in March 2024. This, combined with consumer sentiment regarding interest rates and concern over what the Bank of Canada will decide on it’s next announcement, has definitely tempered pricing.
When we dig into specific markets, we see that all but Bradford, Clearview, Essa and Orillia are seeing a stagnation or decline in sales volume, or the number of homes sold in a month, compared to the previous month. Additionally, Bradford is the only community that has seen an increase in the average price month-over-month.
With that being said, we are still very much in a Buyer’s market. On the ground, we are seeing fewer showings, more negotiating and a general wait-and-see attitude from Buyers. The next Bank of Canada announcement will be one to watch!
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! We hope you enjoy our Simcoe County Real Estate Market Update April 2024.
Scroll below the infographic for all the statistics from the Barrie & District Association of Realtors.
Disclaimer
The prices reflected in this media release are based on homes sold via the live Toronto MLS® System only. 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 Realtor® will help you get the most value when buying or selling a home.
If you are thinking about listing this spring, don’t miss our tips for getting your home listing ready! In this article, we share tips to ensure your home is putting it’s best foot forward so that you can get top dollar. Whether it’s enhancing your curb appeal or depersonalizing, there are some user-friendly ways to attract buyers.
If buying is in your future, make sure that you view our home buyers FAQ to get all your questions answered. We want to ensure that whether you are buying or selling, you are educated and ready to tackle the market!
As always, we are always here with honest answers to help you make the decision that is best for you!