Simcoe County Real Estate Market Update January 2022

We’re sure it won’t come as surprise to any of you paying attention to the housing market that prices have gone up again. The average home price across Simcoe County for January was nearly $1 million! Low inventory and high migration continue to drive pricing up, which is a boon for Sellers, but is making the purchasing process for Buyers a frustrating one.

If you want to pick our brains about Buying or Selling tactics in this crazy market, reach out for a no-obligation call. We are happy to chat. Reach out to us HERE

Simcoe County Real Estate Market Update January 2022

Simcoe County Monthly Residential Report January 2022

Year-Over-Year Summary The January 2022 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, a slight increase in new listings, and a large increase in average sale price.

427 units were sold this month in Simcoe County, that’s 9.0% less than the same time last year. The average price of residential units sold was $982,656, which was 33.0% greater than that of January 2021.

152 residential units were sold during January 2022 within Barrie. This was 5.0% less than the number of units sold during January 2021. This decline was lesser than that of total Simcoe County (-9.0%).

The average price of residential Barrie units sold during January 2022 was $936,353—35.4% greater than the average price of units sold during January 2021. Sales in Barrie accounted for 35.6% of residential sales in Simcoe County last month.

There was an overall increase in new listings during the month of January which prevents a further decline in overall inventory. However, active listings remain low with just over 300 units for the whole region. The demand for the Simcoe County region remains strong, overall inventories remain low and with that, prices continue to rise.

Year-Over-Year January 2022 vs. January 2021

Year-Over-Year January 2022 vs. January 2021

Year-Over-Year January 2022 vs. January 2021

Year-Over-Year January 2022 vs. January 2021

Month-Over-Month Summary

The January 2022 sales recorded through the MLS® System for the Barrie and District Association of REALTORS® (BDAR) region showed a month-over-month increase in the number of units sold in Simcoe County. The City of Barrie drove this growth with an 11.8% gain in the number of units sold. This growth comes after several months of declining sales activity.

427 residential units were sold in Simcoe County last month—a 6.5% increase from December 2021. During the same time a year ago (December 2020 to January 2021), there was an 8.2% decrease in the number of units sold.

The average price of residential units sold last month in Simcoe County was $982,656—a 13.0% increase from December 2021. This growth was greater than the month-over-month change in average price a year ago (+5.7%).

152 units were sold last month within the City of Barrie, which was 11.8% more than the number of units sold the month prior. A year ago, the number of units sold between January and December decreased 10.6%.

The average price of units sold within Barrie during January 2022 was $936,353. This was 9.6% more than the average price during December 2021. In comparison, the average price of units sold between January 2021 and December 2020 increased 4.6%.

There was a large increase in new listings last month which prevents a further decline in overall inventory. New listings were up 63.0% in Simcoe County and 78.4% in Barrie from December 2021.

Month-Over-Month January 2022 vs. December 202

Month-Over-Month January 2022 vs. December 2021

Month-Over-Month January 2022 vs. December 2021

Month-Over-Month January 2022 vs. December 2021

Glossary of Terms

Number of Sales (# of Sales) – A count of all reported sales in a given time period.

Average Price – Mean sales price for all reported sales in a given time period.

New Listings – A count of the properties that have been newly listed on the MLS® system in a given time period.

Active Listings – A count of the available properties on the MLS® system at a point in time.

Months of Inventory – The number of active listings at the end of a given month, dived by the number of sales of that month.

Average Percent of List Price (Average SP/LP) – Percentage found when dividing a listing’s sales price by its list price, then taking the average for all sales in a time period.

Average Days on Market (Average DOM) – Average number of days between when a property is listed and when an offer is accepted in a given time period.

Percent of Total Simcoe County Sales (% of Total Simcoe Sales) – The number of sales in a municipality, dived by the total number of sales in Simcoe County in a given time period.

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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