If you plan to buy a house in the Barrie area, you'll have to dig a little deeper.
Sales information from August 2021 is in, and residential property sales recorded for the Barrie and District Association of REALTORS (BDAR) region showed a decline in sales year-over-year and month-over-month. However, the price of residential units sold continued to rise in both categories.
According to BDAR, this that while the demand for homes is decreasing, the supply of homes still cannot keep pace with the demand for Simcoe County properties.
The Housing Price Index (HPI) for residential homes from August compared to July showed a month-over-month increase of 0.7 per cent.
In the city of Barrie, 205 units were sold last month, which was 19.6 per cent less than the number of units sold the month prior. A year ago, the number of units sold between August and July declined 15.5 per cent.
The average price of units sold within Barrie during August 2021 was $748,686. This was 2.6 per cent more than the average price during July 2021. In comparison, the average price of units sold between August 2020 and July 2020 decreased 0.4 per cent.
Across Simcoe County, 740 residential units were sold last month, which is a 8.6 per cent decrease from July 2021. During the same time a year ago, July 2020 compared to August 2020, there was an eight per cent decrease in the number of units sold.
The average price of residential units sold last month was $801,703 — a 3.2 per cent increase from July 2021. This growth was less than the month-over-month change in average price a year ago (+5.8 per cent).
In Barrie, 27 apartment and condo units were sold last month, which is 28.9 per cent less than the number of units sold in July 2021. The average price of apartment and condo units sold in Barrie last month was $465,474 — 6.8 per cent less than the average price in July 2021.
Last month in Simcoe County, excluding Barrie, 535 units were sold. This was 3.6 per cent less than the number of units sold during July 2021. At the same time a year ago, there was an 4.6 per cent decrease in the number of units sold outside of Barrie.
The average price of units sold in the areas outside of Barrie last month was $822,018. This was 2.9 per cent more than the month prior. Between August 2020 and July 2020, the average price of units sold outside of Barrie increased 8.1 per cent.
