Simcoe County Real Estate Market Update April 2022
We hope you have all been enjoying the beautiful spring weather! It seems that the threat of a late season snow is finally gone and we can finally put the winter gear away.
From conversations with many of you, we know that changing market is a hot topic right now. While average pricing is up, volume (or number of houses sold) is down from last year. Currently there is an influx of properties on the market after a very dry spell. Additionally, we are seeing interest rates rise (and expecting more hikes) as well as day-to-day costs skyrocketing. This seems to have led to some Buyers pausing their plans and holding off on purchasing. While that seems like a potential challenge for Sellers, we are seeing well-kept and up-to-date properties still garnering more than their list price.
As this market shifts, 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! Here it is – The Simcoe County Real Estate Market Update April 2022. Check it out below:
Simcoe County Monthly Residential Report April 2022
Year-Over-Year Summary
The April 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 an increase in new listings and average sale price.
678 units were sold this month in Simcoe County, that’s 42.7% less than the same time last year. The average price of residential units sold was $907,891 which was 17% greater than that of April 2021.
204 residential units were sold during April 2022 within Barrie. This was 44.9% less than the number of units sold during April 2021. This decline was slightly more than that of total Simcoe County (-44.9%).
The average price of residential Barrie units sold during April 2022 was $894,160—23.1% greater than the average price of units sold during April 2021. Sales in Barrie accounted for 30.1% of residential sales in Simcoe County last month.
Sales activity declined from last year’s astronomical record to the lower end of the average range for this time of year however, inventory is on the rise with over 1,000 actives listings for the whole region and an increase in months of inventory from 0.5 in April 2021 to 1.6 last month.
Simcoe County Real Estate Market Update April 2022
Month-Over-Month Summary
The April 2022 sales recorded through the MLS® System for the Barrie and District Association of REALTORS® (BDAR) region showed a month-over-month decrease in the number of units sold in Simcoe County.
678 residential units were sold in Simcoe County last month—a 18.3% decrease from March 2022. During the same time a year ago (April 2021 to March 2021), there was an 10.7% decrease in the number of units sold.
The average price of residential units sold last month in Simcoe County was $907,891—a 7.2% decrease from March 2022. The month-over-month change in average price a year ago was an increase of 2.5%.
204 units were sold last month within the City of Barrie, which was 25.0% less than the number of units sold the month prior. A year ago, the number of units sold between April and March decreased by 25.6%.
The average price of units sold within Barrie during April 2022 was $894,160. This was 3.9% less than the average price during March 2022. In comparison, the average price of units sold between April 2021 and May 2021 increased 1.6%.
If you have any questions about the Simcoe County Real Estate Market Update April 2022 feel free to message us anytime
Year-to-Date Summary
2592 residential units were sold in Simcoe County during April 2022 Year-to-Date (YTD) (January 1st, 2022 – April 30th, 2022). This was 32.0% less than what was sold during the same timeframe last year (January 1st, 2021 – April 30th, 2021).
The average price of residential units sold during April 2022 YTD was $966,864. This was 27.5% greater than the average price during the same timeframe a year ago.
886 units were sold in the City of Barrie during April 2022 YTD. This was a 35.3% decline from the same timeframe last year. This decline was slightly greater than what was seen in the total Simcoe Region (- 32.0%).
The average price of units sold within the City of Barrie during April 2022 YTD was $932,752. This was 30.7% more than the same timeframe last year. This growth was slightly more than what was seen in the total Simcoe Region (+27.5%).
