Skip to content

Local real-estate market begins to show signs of gaining strength

In June, the number of sales went up 25.4% and the price of homes in Barrie rose by 2.8%
0
Keys to house
Stock image

NEWS RELEASE
BARRIE AND DISTRICT ASSOCIATION OF REALTORS
**********************
June 2018 sales information is in and residential property sales and average price of real estate recorded through the Barrie and District Association of REALTORS® (BDAR) MatrixTM MLS® System has started trending upwards.

In June 2018, the number of sales went up 25.4% and the price of homes in Barrie went up 2.8%, as compared to June of last year. This contrasts the last two months, which saw declines in both the number of sales and the average price of homes sold.

In May 2018, the number of real-estate transactions in the city of Barrie declined 37.1% from 2017, and the average price of these transactions declined 2.2%. In April 2018, the number of transactions declined 42.5%, and the average price of homes declined 15.2%, as compared to April 2017.

“June is the first month that year-over-year comparisons do not compare directly to the overheated market in early 2017, and we can really see that the market is improving and returning to the normal rate of increases we are used to,” says Geoff Halford, 2018 BDAR president. “This is a great time to contact your local professional Realtor® to talk about how to make the most of this rebounding market.”

Below are the market statistics comparing through June 2018, year-over-year of June 2017-2018, and 2018 year-to-date statistics.

Simcoe County: Residential property sales have increased by 14.7% year over year in the month of June 2018, with a 0.9% increase in listing prices from May 2018.

City of Barrie: On a year-over-year basis, June 2018 saw 25.4% more residential sales, with the average price in homes also up 2.8% when compared to the same time last year.

Simcoe County Excl. Barrie: On a month-to-month basis, the Simcoe County Region, excluding Barrie, home prices have increased by 3.6% and accounted for 45.3% of residential sales in June 2018.

June 2018 vs June 2017 — All residential homes

Simcoe County: Through the month of June, the BDAR MatrixTM System recorded 461 residential property sales. This is 14.7% greater than June 2017. The average price of homes sold at this time was $503,837, which is 0.6% more than the average price of homes sold during the same time last year. The average price of homes is up 0.9% compared to May 2018.

City of Barrie: Within the City of Barrie, the MatrixTM System recorded 252 sales for the month of June 2018. This is 25.4% more than the number of sales in June 2017. Residential sales in Barrie this month grew more than the total Simcoe Region (14.7%). The average price of homes was $479,579 this month and is up 2.8% when compared to the average price of homes in June of last year. This growth is more than the growth of the total Simcoe region (0.6%). On a month-to-month basis, the average home price is down 0.7%. Barrie’s residential sales accounted for 54.7% of residential sales in all of Simcoe County. This is up 4.7 share points from June of last year.

Simcoe County Excl. Barrie: In the rest of Simcoe County, MatrixTM recorded 209 sales—up 4.0% from last year. This growth is less than that of the total Simcoe Region (14.7%). The average price of homes in June was $533,086, which is 0.3% lower than that of last year. This slight decline is close to the slight growth of the total Simcoe County, which grew 0.6% in the average price of homes sold. In comparison to last month, home prices are up 3.6%. Simcoe excluding Barrie accounted for 45.3% of residential sales in June 2018, which is 4.7 share points less than last year.

June 2018 YTD vs June 2017 YTD — All residential homes

Simcoe County: Between January 1, 2018 and June 30, 2018, MatrixTM recorded 2104 sales, which is a 30.1% decline in comparison to the same timeframe in 2017. The average sale price during this time was $499,707. This is a 7.6% decline from last year.

City of Barrie: In the City of Barrie, the system counted 1052 sales since the beginning of the year. This is 34.1% less than the same timeframe last year, and this decline is greater than that of the total Simcoe region (-30.1%).

Average price also declined 6.8% to $479,099. This decline is less than that of total Simcoe (-7.6%). The residential sales in Barrie accounted for 50.0% of all Simcoe County residential sales—3.1 share points less than last year.

Simcoe County Excl. Barrie: Outside of Barrie, there were 1052 sales between January 1st and June 30st in 2018. This is a 25.5% decline from the number of sales made at the same time last year. This decline is less than that of the total Simcoe area (-30.1%).

The average price of homes in Simcoe County excluding Barrie was $520,316—8.9% less than the average price in 2017. This decline is greater than that of the whole Simcoe Region (-7.6%). Residential sales outside of Barrie accounted for 50.0% of sales in total Simcoe. This is 3.1 share points greater than last year.

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 residential detached homes sold via the BDAR MLS® system only.

**********************

 




Comments