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Average price of homes in Simcoe County on the rise

Number of home sales in Simcoe County, excluding Barrie, up dramatically over last year
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The July 2018 sales information is in, and residential property sales and average sale price recorded through the MatrixTM System for the Barrie and District Association of REALTORS® Inc. (BDAR) region were on the rise for Simcoe County as a whole in month-over-month comparison.

“This continued upward trend shows a strengthening real estate market,” said Geoff Halford, BDAR 2018 President. “Sales in the month of July, for the City of Barrie, were down slightly when compared with June. This is not unexpected as the market tends to be slower during the summer months. The overall trend in our region sees an increase, with a 29 per cent increase in homes sold in Simcoe County compared to this time last year.”

Residential Home Prices

Simcoe County

Average home price rises from $503,837 in June 2018, to $514,295 in July 2018.This is despite the number of overall sales declining from 461 in June to 391 in July.

City of Barrie

Barrie has seen a slight decline in sales through July, with a total of 186 sales compared to 252 sales in June 2018. Average price within Barrie, between June and July, also grows from $479,579 to $482,450.

Simcoe County Excluding Barrie

Sales for Simcoe excluding Barrie remain flat (July: 205, June: 209). Growth in average price is mostly driven by the areas outside of Barrie, where the average home prices for Simcoe County, excluding Barrie rises from $533,086 to $543,189.

Residential Home Sales

Simcoe County

Through July, the BDAR MatrixTM System records 391 residential property sales, 29.0 per cent greater than the number of residential sales in July of last year. The average July, 2018, price of residential properties in the county is $514,295. This is 5.3 per cent higher than the average price of July, 2017. The average price of homes is also 2.1 per cent higher than the average price of last month’s.

City of Barrie

Within the City of Barrie, the BDAR MatrixTM System records 186 sales for the month of July, 2018—16.3 per cent more than the same time last year. However, this year-over-year growth is less than that of the total Simcoe region (29.0 per cent).

The average price of homes in Barrie during the July time period is $482,450 and this is 0.6 per cent greater than July, 2017. Similar to growth in sales, growth in average price was less than that of the total Simcoe County (5.3 per cent). On a monthly timeline, the average home price is up 0.6 per cent.

Barrie’s July residential sales accounts for 47.6 per cent of Simcoe County’s July residential sales. This is 5.2 share points less than that of the same time last year

Simcoe County Excluding Barrie

In the rest of Simcoe County, MatrixTM records 205 sales, which is 43.4 per cent more than July of last year. This growth is greater than that of the total Simcoe Region (29.0 per cent). The average price of homes in the July, 2018, period is $543,189—a 9.0 per cent increase from July, 2017.

This growth is greater than the growth of the total Simcoe region (5.3 per cent). In comparison to June, 2018, home prices are up 0.6 per cent. Simcoe excluding Barrie accounts for 52.4 per cent of residential sales in July, 2018, which is 5.2 share points greater than of the same time 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.