NEWS RELEASE
BARRIE AND DISTRICT ASSOCIATION OF REALTORS
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The October 2018 sales information is in, and residential property sales recorded through the MatrixTM System for the Barrie and District Association of REALTORS® Inc. (BDAR) region showed that sales transactions and average home prices were up in the Simcoe County region as compared to October 2017.
“We’re still seeing incremental increases in both price and number of homes sold in the region compared to October 2017,” says Geoff Halford, 2018 BDAR president.
“In Simcoe County, the number of homes sold and price is up marginally from last year. There is a decrease in the number homes sold in Barrie alone, but the price of these homes rose 2.1 per cent. If you are thinking of buying or selling, it’s important to talk to your local professional Realtor® to fully understand the market trends and how to gain the most value during your real estate transaction.”
Year over Year - October 2018 vs October 2017 — All residential homes
Simcoe County: Through the month of October 2018, the BDAR MatrixTM System recorded 393 sales—a 5.4 per cent uptick from the same time last year. 373 units were sold in October 2017 while 393 units were sold last month. Average price during this time also rose by 2.5 per cent, going from $482,376 to $494,555. This was a 2.5 per cent increase from last year. On a month-to-month basis, units sold rose by 5.4 per cent from September while the average price declined 1.8 per cent.
City of Barrie: The City of Barrie had 193 sales during the month of October, an 8.1 per cent decline, from 210 in October 2017. This decline was due to a drop in the number of detached units sold, which declined 13.1 per cent. However, the average price of homes in Barrie remained intact and even increased by 2.1 per cent. The price of Barrie detached homes also rose by 2.8 per cent, going from $518,085 in October 2017 to $533,084 in October 2018.
The average price of homes in Barrie rose 2.1 per cent to $480,448. Despite the difference in the number of units sold between the whole Simcoe region and Barrie, the growth in Barrie’s average price per home is in-line with that of the whole County (+2.5 per cent).
On a monthly perspective, the number of homes sold in the city were up 6.6 per cent from September, while the average price increased by 3.7 per cent. Lastly, the gap between Barrie vs Simcoe excl. Barrie homes sales shrunk last month compared to a year ago. Barrie home sales accounted for 49.1 per cent of units sold—7.2 per cent share points less than the same time last year.
Simcoe County, Excluding Barrie: Total units sold in Simcoe County excluding Barrie saw a strong increase of 22.7 per cent from last year. Reaching 200 units sold in October 2018 versus 163 in October 2017. This growth was accompanied with a modest increase of 2.1 per cent in average sales price throughout the area.
Month-over-month, the sale of homes in Simcoe excluding. Barrie grew 4.2 per cent when compared to September 2018. However, the average price of homes declined 6.3 per cent in the same time comparison.
The gap between the number of sales in Barrie vs Simcoe excluding. Barrie lessened in October 2018 as compared to October 2017. Non-Barrie sales accounted for 50.9 per cent of sales in Simcoe County, which is 7.2 share points more than October 2017.
Year to Date (YTD) - October 2018 YTD vs October 2017 YTD All residential homes
Simcoe County: In Simcoe County, the number of sales for October 2018 Year to Date (YTD) (Jan. 1, 2018 – Oct. 31, 2018) amounted to 3757, a 13.7 per cent decline from the same timeframe last year. The average price of homes during October 2018 YTD was $501,746 which is 4.3 per cent less than the average price during October 2017 YTD.
City of Barrie: Within the City of Barrie, 1835 homes were sold during the October 2018 YTD timeframe, a 20.8 per cent decline from the same timeframe in 2017. This decline is greater than the decline in the number of units sold in total Simcoe County (-13.7 per cent).
The average price of homes sold was $477,579. This is a 4.3 per cent decline from the average price of homes in 2017. Additionally, this decline in price falls in-line with the decline faced in the total Simcoe region (-4.3 per cent). Residential sales in Barrie accounted for 48.8 per cent of sales in Simcoe County during in 2018 so far. This is 4.4 share points less than Barrie during October 2017 YTD.
Simcoe County Excl. Barrie: Outside of Barrie, 1922 homes were sold between the beginning of 2018 and the end of October. This is 5.5 per cent less than the number of homes sold during the same timeframe in 2017. However, this decline is less than the decline in the number of homes sold in total Simcoe County (-13.7 per cent).
The average price of homes during this time outside of Barrie declined 5.1 per cent to $524,819. This decline is greater than the decline in the total Simcoe region (-4.3 per cent). Lastly, residential sales from Simcoe County excl. Barrie accounted for 51.2 per cent of total sales in the County, and this is 4.4 share points more than October 2017 YTD.
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