Skip to content

Slight increase in Barrie's residential property sales this month, realtors say

Average price of residential units sold in July was down 1.1 per cent from the previous month
0
221118_real-estate-staging1
stock

NEWS RELEASE
BARRIE AND DISTRICT ASSOCIATION OF REALTORS
*************************
The July 2019 sales information is in, and residential property sales recorded through the Matrix System for the Barrie and District Association of Realtors Inc. (BDAR) region showed growth in the number of residential units sold and average price of units sold in Simcoe County.

The Housing Price Index (HPI) showed a slight month-over-month increase of 0.85 per cent from June 2019 and a year-over-year decline of 1.31 per cent between July 2019 and July 2018.

Month-Over-Month (July 2019 vs June 2019)

Simcoe County

504 residential units were sold in Simcoe County last month, and this was a 1.8 per cent growth from the month before (June 2019). During the same time last year (June 2018 to July 2018), there was a 17.5 per cent decline in the number of units sold.

The average price of residential units sold last month was $505,270—a 1.1 per cent decrease from June 2019. In comparison, the average price during 2018 declined 1.7 per cent from June to July.

City of Barrie

221 units were sold last month within the City of Barrie, which was 4.7 per cent less than the number of units sold the month prior. This is less of a decline than in 2018, where the number of units sold decreased 28.1% between July and June.

The average price of units sold within Barrie during July was $481,893. This was 2.5 per cent less than the average price during June 2019. In comparison, the average price in the same timeframe last year decreased 0.3 per cent.

Simcoe County Excluding Barrie

In Simcoe County excluding Barrie last month, 283 units were sold. This was 7.6 per cent greater than the number of units sold during June 2019. For reference, the number of units sold between June 2018 and July 2018 declined 5.2 per cent.

The average price of units sold in the areas outside of Barrie last month was $526,384. This was 0.2 per cent less than the month before. In 2018, the average price of units sold outside of Barrie declined 3.3 per cent during this same timeframe.

Year-To-Date (YTD) (Juy 2019 YTD vs July 2018 YTD) All Residential Homes

Simcoe County

2,920 residential units were sold in Simcoe County during July 2019 year-to-date (YTD) (Jan. 1, 2019 – July 31, 2019). This was 15 per cent more units sold than during the same timeframe last year (Jan. 1, 2018 – July 31, 2018). The average price of residential units sold during this time was $514,253. This was 3.9 per cent greater than the average price during the same time last year.

City of Barrie

1,332 units were sold in the City of Barrie during July 2019 YTD. This was a 6.3 per cent growth as compared to the same timeframe last year. This growth was less than that of total Simcoe County (+15 per cent)

The average price of units sold within the City of Barrie during July 2019 YTD was $488,878. This was 2 per cent more than the same time last year, and this growth was less than what was seen in the total Simcoe region (+3.9%)

During July 2019 YTD, Barrie accounted for 45.6 per cent of residential properties sold. This was 3.7 share points less than the same timeframe during 2018.

Simcoe County Excluding Barrie

1588 residential units were sold in the areas outside of Barrie during July 2019 YTD. This was 23.4 per cent greater than the number of units sold during July 2018 YTD. This growth in number of units sold was much greater than what was seen in the total Simcoe region (+15 per cent)

The average price of units sold during this time was $532,674. This was 4.2 per cent greater than what was seen during July 2018 YTD. This growth was slightly greater than that of total Simcoe (+3.9 per cent)

During July 2019 YTD, Simcoe County Excluding Barrie accounted for 54.4% of residential properties sold. This was 3.7 share points more than the same timeframe during 2018.

Year-Over-Year (July 2019 vs July 2018) - All Residential Homes

Simcoe County

504 residential units were sold in Simcoe County last month, which was 24.1 per cent more than the same time last year. Additionally, the average price of residential units sold was $505,270. This average price was 3.3 per cent greater than that of July 2018.

City of Barrie

221 units were sold during July 2019 within the City of Barrie. This was 16.9 per cent more than the number of units sold in Barrie during July 2018. This growth was less than that of total Simcoe County (+24.1 per cent).

The Barrie average price of units sold during July 2019 was $481,893—1.8 per cent greater than the average price during July 2018. This growth was less than the average-price growth of total Simcoe County (+3.3 per cent). Residential property sales in Barrie accounted for 43.8 per cent of residential sales in Simcoe County last month. This was 2.7 share points less than the same time last year.

Simcoe County Excluding Barrie

283 residential units were sold outside of Barrie during July 2019, and this was 30.4 per cent more than the number of units sold during July 2018. This growth was greater than the 24.1 per cent units-sold growth seen in the total Simcoe region.

The average price of units sold in Simcoe County Excluding Barrie was $526,384 last month. This was a 5.9 per cent increase in the average price as compared to the same time last year. This growth in average price was greater than that of total Simcoe County (+3.3 per cent). Residential property sales outside of Barrie accounted for 56.2 per cent of sales in Simcoe County last month. This was 2.7 share points greater than the same time last year.

Disclaimer
The prices reflected in this media release are based on homes sold via the live Barrie and District Association of Realtors (BDAR) Matrix Multiple Listing Service (MLS) only. Statistical anomalies in average home prices, including irregularly high and/or substantially low residential sold unit prices have been evaluated and/or removed from the data sets used to calculate final averages in order to illustrate market trends with improved accuracy.

The Barrie & District Association of Realtors
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 homes sold via the live BDAR MLS system only.

Using a Local Professional Realtor
Realtor is a professional designation. A realtor is a licensed real estate professional belonging to local, provincial and national associations. They have completed an intensive real estate program and have the skill set, expertise and experiences that you will need when buying or selling your home. Realtors have a network of resources available at their fingertips. They understand financing and mortgage rules, insurance and liability coverage, and all the legal details involved in real estate. As a skilled negotiator, your local BDAR realtor will help you get the most value when buying or selling a home.

About Home Price Index (HPI)
The MLS Home Price Index (HPI) conducts an analysis based on prices for Benchmark properties tracked by the MLS® Home Price Index (HPI) for the overall market area served by the Barrie & District Association of REALTORS® Inc (BDAR). The MLS HPI is the most accurate gauge for price levels and trends, which vary by neighbourhood. For more detailed information, please contact your local BDAR realtor. To learn more visit https://www.crea.ca/housing-market-stats/mls-home-price-index/about-hpi/

About BDAR
The Barrie & District Association of Realtors (BDAR) represents almost 1,000 realtors in the Barrie and Simcoe County region. BDAR provides its members leadership opportunities, professional development, and other tools and services to help them deliver a high standard of services to their clients. BDAR is community-focused and believes that community prosperity is largely based on shelter and home ownership. The Association has a strong focus on affordable housing and helping first?time buyers understand how to get on the housing ladder. To learn more visit https://bdar.ca

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




Comments