While some markets are still trending down, things are looking up in Simcoe County! The year-over-year sales volume is up 28.1% over last June, and we are seeing a slight bump (2.1%) in average pricing from last June as well.

Similarly, pricing rose month-over -month 7% from May to June, while volume has decreased 6.7%. All in all, we are seeing a healthier housing market despite the steady increases in interest rates. The most recent rate hike (and the anticipated one in September) may still have a dampening effect…we’ll have to wait and see.

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 June 2023.

Scroll below the infographic for all the statistics.

 

Simcoe County Monthly Residential Report June 2023

Year-Over-Year Summary

The June 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 increase in the number of units sold and average sale price and a decrease in new listings.

670 units were sold this month in Simcoe County, that’s 28.1% more than the same time last year. The average price of residential units sold was $846,991 which was 2.1% greater than that of June 2022.

196 residential units were sold during June 2023 within Barrie. This was 24.1% more than the number of units sold during June 2022. This increase was slightly less than that of total Simcoe County (+28.1%).

The average price of residential Barrie units sold during June 2023 was $787,491 which was about the same than the average price of units sold during June 2022. Sales in Barrie accounted for 29.3% of residential sales in Simcoe County last month.

Home sales have been coming in relatively stronger over the past three months compared to earlier in the year, slowly building momentum in the recovery. The return of sellers to the market in meaningful numbers would be a welcome sight given falling inventory levels and rising prices.

Month-Over-Month Summary

The June 2023 sales recorded through the MLS® System for the Barrie and District Association of REALTORS® (BDAR) showed a month-over-month decrease in the number of units sold and new listings and an increase in average sale price in Simcoe County.

670 residential units were sold in Simcoe County last month—a 6.7% decrease from May 2023. During the same time a year ago (June 2022 to May 2022), there was an 18.3% decrease in the number of units sold.

The average price of residential units sold last month in Simcoe County was $846,991—a 7.0% increase from May 2023. The month-over-month change in average price a year ago was a decrease of 8.1%.

196 units were sold last month within the City of Barrie, which was 17.6% less than the number of units sold the month prior. A year ago, the number of units sold between June and May decreased by 21.0%.

The average price of units sold within Barrie during June 2023 was $787,491. This was 2.4% more than the average price during May 2023. In comparison, the average price of units sold between June 2022 and May 2022 decreased 5.9%.

Year-to-Date Summary

3266 residential units were sold in Simcoe County during June 2023 Year-to-Date (YTD) (January 1st, 2023 – June 30th, 2023). This was 12.9% less than what was sold during the same timeframe last year (January 1st, 2022 – June 30th, 2022).

The average price of residential units sold during June 2023 YTD was $801,756. This was 14.5% less than the average price during the same timeframe a year ago.

1057 units were sold in the City of Barrie during June 2023 YTD. This was a 14.6% decline from the same timeframe last year. This decline was slightly greater than what was seen in the total Simcoe Region (-12.9%).

The average price of units sold within the City of Barrie during June 2023 YTD was $753,270. This was 16.1% less than the same timeframe last year. This decline was slightly more than what was seen in the total Simcoe Region (-14.5%).

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-marketstats/mls-home-price-index/about-hpi/
About BDAR
The Barrie & District Association of REALTORS® (BDAR) represents over 1,600 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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