Simcoe County Real Estate Market Update November 2022
With the holidays around the corner, we are in a seasonally slower time in the real estate market. With that aside, we are still seeing lower sales volume and lower average pricing year-over-year. The average volume decrease for Simcoe County is 33.8% (over last November, while the average home price is down 11%. While this is definitely a signal for some to stay put, there is opportunity for those looking to invest. If you are looking to learn more about the benefits of investing in our current market, we’d be happy to discuss if it might be right for you.
Scroll below the infographic for the complete market statistics.
If you are contemplating a move, it’s important to chat about the nuances of the market when considering a move. 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 November 2022.
Simcoe County Monthly Residential Report November 2022
Year-Over-Year Summary
The November 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 and average sale price and an increase in new listings and months of inventory.
416 units were sold this month in Simcoe County, that’s 33.8% less than the same time last year. The average price of residential units sold was $748,106 which was 11.0% less than that of November 2021.
130 residential units were sold during November 2022 within Barrie. This was 35.3% less than the number of units sold during November 2021. This decline was more than that of total Simcoe County (-33.8%).
The average price of residential Barrie units sold during November 2022 was $702,243—15.8% less than the average price of units sold during November 2021. Sales in Barrie accounted for 31.3% of residential sales in Simcoe County last month.
Overall inventory of homes remains well above this time last year. The number of new listings were 21.3% more in Simcoe County and 3.3% less in Barrie compared to this time last year in Simcoe County Real Estate Market Update November 2022
Simcoe County Real Estate Market Update November 2022
Month-Over-Month Summary
The November 2022 sales recorded through the MLS® System for the Barrie and District Association of REALTORS® (BDAR) showed a decrease in the number of units sold, average sale price and new listings in Simcoe County.
416 residential units were sold in Simcoe County last month—a 17.8% decrease from October 2022. During the same time a year ago (November 2021 to October 2021), there was an 11.5% decrease in the number of units sold.
The average price of residential units sold last month in Simcoe County was $748,106—a 3.5% decrease from October 2022. The month-over-month change in average price a year ago was an increase of 1.0%.
130 units were sold last month within the City of Barrie, which was 20.7% less than the number of units sold the month prior. A year ago, the number of units sold between November and October decreased by 9.9%.
The average price of units sold within Barrie during November 2022 was $702,243. This was 4.4% less than the average price during October 2022. In comparison, the average price of units sold between November 2021 and October 2021 increased by 9.3%.
Although home sales are still trending well below average levels for this time of year, looking through the seasonality on a month-to-month basis we can see that activity has stabilized at slightly higher levels over the past few months after reaching a bottom in July.
Year-to-Date Summary
6,136 residential units were sold in Simcoe County during November 2022 Year-to-Date (YTD) (January 1st, 2022 – November 30th, 2022). This was 35.2% less than what was sold during the same timeframe last year (January 1st, 2021 – November 30th, 2021).
The average price of residential units sold during November 2022 YTD was $870,725. This was 10.7% greater than the average price during the same timeframe a year ago.
2,007 units were sold in the City of Barrie during November 2022 YTD. This was a 36.1% decline from the same timeframe last year. This decline was slightly greater than what was seen in the total Simcoe Region (-35.2%).
The average price of units sold within the City of Barrie during November 2022 YTD was $834,201. This was 12.8% more than the same timeframe last year. This growth was slightly more than what was seen in the total Simcoe Region (+10.7%).
