Simcoe County Real Estate Market Update June 2023
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%).
