Simcoe County Real Estate Market Update October 2021 | The Fournier Experience Real Estate Team

I feel like I am a bit of a broken record but the trend is the same as last month. Simcoe County Real Estate Inventory is still very low and the demand is crazy. Personally, I don’t see this changing in the near future. Sellers are in the control position and buyers have to compete for most listings. There is some upward pressure on mortgage rates but the stress test is already in place so I don’t see rates really affecting this demand at this time.

If you are thinking of listing your property and want some straight-forward advice, reach out and we’ll give you our thoughts, no strings attached.

For the full BDAR press release, scroll below the infographic.

 

Simcoe County Real Estate Market Update October 2021 | The Fournier Experience Real Estate Team

Month-Over-Month (October 2021 vs September 2021) Residential Homes

The Housing Price Index (HPI) showed a 3.8% month-over-month increase of from September 2021.

Simcoe County

705 residential units were sold in Simcoe County last month—a 4.3% decrease from September 2021. During the same time a year ago (September 2020 to October 2020), there was an 4.2% decrease in the number of units sold.

The average price of residential units sold last month was $835,397—a 4.1% increase from September 2021. This growth was greater than the month-over-month change in average price a year ago (+2.6%).

City of Barrie

219 units were sold last month within the City of Barrie, which was 4.8% less than the number of units sold the month prior. A year ago, the number of units sold between October and September decreased 1.6%.

The average price of units sold within Barrie during October 2021 was $770,033. This was 1.3% less than the average price during September 2021. In comparison, the average price of units sold between October 2020 and September 2020 decreased by 1.3%.

City of Barrie – Apartments & Condos

33 apartment and condo units were sold in Barrie last month—19.5% less than the number of units sold in September 2021. The average price of apartment and condo units sold in the City of Barrie last month was $508,004—2.7% less than the average price in September 2021.

Simcoe County Excluding Barrie

In Simcoe County Excluding Barrie last month, 486 units were sold. This was 4.1% less than the number of units sold during September 2021. At the same time a year ago, there was an 5.6% decrease in the number of units sold outside of Barrie.

The average price of units sold in the areas outside of Barrie last month was $864,851. This was 6.4% more than the month prior. Between October 2020 and September 2020, the average price of units sold outside of Barrie increased 1.9%.

Innisfil

58 residential units were sold in Innisfil last month—a 26.1% increase from September 2021. During the same period a year ago (September 2020 to October 2020), there was a 4.8% increase in the number of units sold. The average price of residential units sold in Innisfil last month was approximately $892,172— a 0.5% decrease from September 2021. This contrasted the growth from last year when the average price increased 14.6% from September to October.

Orillia

59 residential units were sold in Orillia last month — a 25.5% increase from September 2021. During the same period a year ago (September 2020 to October 2020), there was an 1.3% decrease in the number of units sold. The average price of residential units sold in Orillia last month was approximately $661,087—a 2.4% decrease from September 2021. The average price a year ago decreased 6.2% from September to October.

Essa

In Essa last month, 37 residential units were sold. This was 27.6% more than the month prior. During the same period a year ago, there was a 42.9% increase in the number of units sold. The average price of residential units sold in Essa last month was $973,838— a 25.9% increase from September 2021. This time last year, the average price decreased 1.6% from September 2020 to October 2020.

 

Year-To-Date (YTD) (October 2021 YTD vs October 2020 YTD) All Residential Homes

Simcoe County

8792 residential units were sold in Simcoe County during October 2021 Year-To-Date (YTD) (January 1st, 2021 – October 31st, 2021). This was 10.1% more than what was sold during the same timeframe last year (January 1st, 2020 – October 31st, 2020). The average price of residential units sold during October 2021 YTD was $783,229. This was 33.1% greater than the average price during the same timeframe last year.

City of Barrie

2925 units were sold in the City of Barrie during October 2021 YTD. This was a 13.4% growth from the same timeframe last year. This growth was greater than the growth in total Simcoe County (+10.1%).

The average price of units sold within the City of Barrie during October 2021 YTD was $733,666. This was 31.2% more than the same timeframe last year. This growth was less than what was seen in the total Simcoe region (+33.1%). During October 2021 YTD, Barrie accounted for 33.3% of residential properties sold. This was 1.0 share points more than the same timeframe during 2020.

City of Barrie – Apartments & Condos

413 apartment and condo units were sold in Barrie during October 2021 YTD—15.0% more than the number of units sold in October 2020 YTD. The average price of apartment and condo units in the City of Barrie this year so far was $491,168. This was 21.0% more than the average price during the same timeframe last year.

Simcoe County Excluding Barrie

5867 residential units were sold in the areas outside of Barrie during October 2021 YTD. This was 8.6% more than the number of units sold during October 2020 YTD. This growth in number of units sold was less than the growth seen in the total Simcoe region (+10.1%).

The average price of units sold during this time was $807,939. This was 34.2% greater than what was seen during October 2020 YTD. This growth was greater than that of total Simcoe (+33.1%). During October 2021 YTD, Simcoe County Excluding Barrie accounted for 66.7% of residential properties sold. This was 1.0 share points less than the same timeframe during 2020.

Innisfil

649 residential units were sold in Innisfil during October 2021 YTD. This was 11.1% more than what was sold during the same timeframe last year (January 1st, 2020 – October 31st, 2020). The average price of residential units sold in October 2021 YTD was $852,801. This was 43.0% greater than the average price during the same timeframe last year. During this time, Innisfil accounted for 7.4% of sales in Simcoe County—a 0.1 share point change from the same timeframe last year.

Orillia

656 residential units were sold in Orillia from the beginning of 2021 to October 31st, 2021. This was 8.8% more than what was sold during the same timeframe last year (January 1st, 2020 – October 31st, 2020). The average price of residential units sold during October 2021 YTD was $637,308. This was 36.3% greater than the average price during the same timeframe last year. During October 2021 YTD, Orillia accounted for 7.5% of sales in Simcoe County, 0.1 share points less compared to Orillia’s share in October 2020 YTD.

Essa

380 residential units were sold in Essa during September 2021 YTD. This was 15.2% more than what was sold during the same timeframe last year (January 1st, 2020 – October 31st, 2020). The average price of residential units sold in October 2021 YTD was $809,025. This was 34.7% greater than the average price during the same timeframe last year. During this time, Essa accounted for 4.3% of sales in Simcoe County— 0.2 share points less than the same timeframe last year.

 

Year-Over-Year (October 2021 vs October 2020) All Residential Homes

The Housing Price Index (HPI) showed a 35.5% year-over-year increase between October 2021 and October 2020.

Simcoe County

705 residential units were sold in Simcoe County last month—28.3% less than the same time last year. As well, the average price of residential units sold was $835,397, which was 28.8% greater than that of October 2020.

City of Barrie

219 residential units were sold during October 2021 within Barrie. This was 31.8% less than the number of units sold during October 2020. This decline was greater than that of total Simcoe County (-28.3%).

The average price of residential Barrie units sold during October 2021 was $770,033—27.7% greater than the average price of units sold during October 2020. This growth was less than the average-price growth of total Simcoe County (+28.8%). Sales in Barrie accounted for 31.1% of residential sales in Simcoe County last month. This was 1.4 share points less than the same time last year.

City of Barrie – Apartments & Condos

33 apartment and condo units were sold in Barrie during October 2021 — 29.8% less than the number of units sold in October 2020. The average price of apartment and condo units in the City of Barrie during October 2021 was $508,004. This was 13.4% more than the average price during the same time last year. Simcoe County Excluding Barrie 486 residential units were sold outside of Barrie during October 2021, and this was 26.6% less than the number of units sold during October 2020. This decline was less than the 28.3% decline in the total Simcoe region.

The average price of units sold in Simcoe County Excluding Barrie last month was $864,851. This was a 28.9% increase in the average price, year-over-year. This growth was slightly greater than what was found in total Simcoe County (+28.%). Residential property sales outside of Barrie accounted for 68.9% of sales in Simcoe County last month. This was 1.4 share points greater than the same time last year.

Innisfil

58 residential units were sold in Innisfil during October 2021, and this was 10.8% less than the number of units sold during October 2020. This decline was less than the 28.3% decline seen in the total Simcoe region. The average price of units sold in Innisfil last month was approximately $892,172. This was a 28.9% increase in the average price, year-over-year. This growth was greater than what was found in total Simcoe County (+28.8%). Sales in Innisfil accounted for 8.2% of sales in Simcoe County during October 2021. This was 1.5 share points more from Innisfil’s share of sales during the same time last year.

Orillia

59 residential units were sold in Orillia during October 2021, and this was 23.4% less than the number of units sold during October 2020. This decline was less than the 28.3% decline seen in the total Simcoe region. The average price of units sold in Orillia last month was approximately $661,087. This was a 36.6% increase in the average price, year-over-year. This growth was greater than what was found in total Simcoe County (+28.8%). Orillia’s sales made up 8.4% of sales in Simcoe County. This was 0.4 share points more than the same time last year.

Essa

37 residential units were sold in Essa during October 2021, and this was 7.5% less than the number of units sold during October 2020. This decline was less than the 28.3% decline seen in the total Simcoe region. The average price of units sold in Essa last month was approximately $973,838. This was a 57.3% increase in the average price, year-over-year. This growth was greater than what was found in total Simcoe County (+28.3%). Sales in Essa accounted for 5.2% of sales in Simcoe County during October 2021. This was 1.2 share points more than Essa’s share of sales during the same time last year.

 

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 almost 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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