Simcoe County Real Estate Market Update June 2022
We hope summer is in full swing for you and your loved ones and that you are enjoying some down time to connect and recharge! The housing market has been interesting to watch over the last few months, pivoting from the frenzied competition and sky-high prices to a more balanced market. Year-over-year, volumes are down more than 45% in Simcoe County, meaning fewer properties are being sold. Additionally, we are seeing the average price dip below last month’s average, albeit a much more moderate drop at just over 7%.
*The full market stats are below the infographic
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! Here you go – The Simcoe County Real Estate Market Update June 2022
Simcoe County Monthly Residential Report June 2022
Year-Over-Year Summary
The Simcoe County Real Estate Market Update June 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.
522 units were sold this month in Simcoe County, that’s 45.02% less than the same time last year. The average price of residential units sold was $832,698 which was 3.7% greater than that of June 2021.
156 residential units were sold during June 2022 within Barrie. This was 45.8% less than the number of units sold during June 2021. This decline was slightly more than that of total Simcoe County (-45.0%).
The average price of residential Barrie units sold during June 2022 was $787,432—5.6% greater than the average price of units sold during June 2021. Sales in Barrie accounted for 29.9% of residential sales in Simcoe County last month.
Less than six months ago we were facing some of the tightest conditions in history, with demand outpacing supply by an extraordinary margin. Now, those trends are starting to reverse with new listings returned to the market at a quick rate bringing our months of inventory to 3.5 for the region.
Month-Over-Month Summary
The June 2022 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 average sale price and a slight decrease in new listings in Simcoe County.
522 residential units were sold in Simcoe County last month—a 19.2% decrease from May 2022. During the same time a year ago (June 2021 to May 2021), there was an 10.8% decrease in the number of units sold.
The average price of residential units sold last month in Simcoe County was $832,698—a 7.6% decrease from May 2022. The month-over-month change in average price a year ago was an increase of 0.5%.
156 units were sold last month within the City of Barrie, which was 22.4% less than the number of units sold the month prior. A year ago, the number of units sold between June and May decreased by 21.5%.
The average price of units sold within Barrie during June 2022 was $787,432. This was 5.8% less than the average price during May 2022. In comparison, the average price of units sold between June 2021 and May 2021 increased 0.3%.
Year-to-Date Summary
3755 residential units were sold in Simcoe County during June 2022 Year-to-Date (YTD) (January 1st, 2022 – June 30th, 2021). This was 35.6% less than what was sold during the same timeframe last year (January 1st, 2021 – June 30th, 2021).
The average price of residential units sold during June 2022 YTD was $936,993. This was 21.2% greater than the average price during the same timeframe a year ago.
1239 units were sold in the City of Barrie during June 2022 YTD. This was a 38.8% decline from the same timeframe last year. This decline was slightly greater than what was seen in the total Simcoe Region (-35.6%).
The average price of units sold within the City of Barrie during June 2022 YTD was $898,708. This was 24.2% more than the same timeframe last year. This growth was slightly more than what was seen in the total Simcoe Region (+21.2%).
We hope you enjoyed the Simcoe County Real Estate Market Update June 2022.
