House prices in Orillia have gone up slightly since last year, while the number of sales has barely changed.
Officials with the Lakelands Association of Realtors reached out to OrilliaMatters to clear up any confusion after a news release from the Barrie and District Association of Realtors was published earlier in the month. In that release, the Barrie association noted a spike in the average price of houses in Simcoe County.
“Simcoe County is a large geographic area. The numbers used in this post, as indicated in the disclaimer, are only those sales by members of the Barrie and District Association of Realtors, and are not indicative of prices in our local areas serviced primarily by members of the Lakelands association, including Orillia, Ramara, Severn (and) parts of Oro-Medonte,” explained Mike Stahls, past president of the Lakelands association.
The numbers for residential, non-waterfront house sales in Orillia are as follows:
Average sale price
July 2018: $350,876
July 2017: $322,098
Number of sales
July 2018: 41
July 2017: 40
Average days to sell
July 2018: 35
July 2017: 19
“As you can see, the number of homes sold are near identical year over year for July, and prices have still crept up slightly,” Stahls said. “The market has moved away from the seller’s market of last year to a more stable overall market. Inventory is up and average days on market has increased to 35 days, which is still quite low from a historical perspective.”
After a record season of sales in the spring of 2017, “our region has settled into a more balanced market,” Stahls said.
“We have seen more buyers from the south (GTA and Barrie) either cashing out and retiring here or deciding to commute from Orillia as prices remain lower than regions to our south, and a home costs less here than a small apartment would in other regions.”
