Average Home Prices Edged Lower in Simcoe County 

Month over Month Review

Simcoe County

Month-over-Month, Simcoe County experienced a decline in total units sold, with November 2018 at 320 units sold compared to 393 in October. The average price of homes sold also slightly decreased by 3.6% from $494,555 in October to $476,722 in November.

City of Barrie

Compared to last month, the number of units sold in November declined by 13.5% in the city of Barrie, edging from 193 units sold in October to 167 units sold in November. The average price of homes in November 2018, as compared to October 2018, also marginally declined by 5.6%, from $480,448 to $453,421.

Simcoe County Excluding Barrie

In the areas outside of Barrie, the number of units sold edged 23.5% lower when compared to last month. With 153 units sold reported for November versus 200 in October. Though, the average price of homes remained balanced month-over-month. With a marginal drop of 1.2%, going from $508,168 in October to $502,155 as of November. 

Year Over Year (November 2018 Over November 2017)

Simcoe County

Through the month of November 2018, the BDAR Matrix™ System recorded 320 sales, which is 13.5% less than November of last year. The average price of homes during this time was $476,722 which is -0.7% less than November 2017.

City of Barrie

In the City of Barrie, there were 167 units sold, and this is a 15.7% decrease from last year. This decline in the number of units sold is greater than the decline seen in the total Simcoe region (-13.5%). The average price of homes last month was $453,421 in Barrie—3.3% less than the average price during November 2017. This decline in average price is also greater than the Simcoe County’s decline in average price (-0.7%). Residential sales in Barrie accounted for approximately 52.2% of sales in the Simcoe region last month. This is 1.3 share points less than November 2017.

Simcoe County Excluding Barrie

Outside of Barrie, 153 units were sold last month, which is 11% less than the number of units sold last year in November. This is a lesser decline than what was seen in total Simcoe County (-13.5%). The average price of homes in Simcoe County excluding Barrie was $502,155 in the month of November and this is 1.8% greater than the average price during November 2017. This growth in average price contrasts the subtle decline in the total Simcoe region (-0.7%). Residential sales from areas outside of Barrie totalled 4% of sales in Simcoe County, and this is 1.5 share points more than the same time last year.

 

November 2018 Year to Date Vs. November 2017 Year to Date

Simcoe County

In Simcoe County, the number of sales for November 2018 Year to Date (YTD) (January 1, 2018 – November 30, 2018) came out to 4074 units sold. This is 13.9% less than the number of units sold during the same timeframe in 2017. Average price during this time was $499,838—4.1% less than the average price in 2017.

City of Barrie

In the City of Barrie, the Matrix™ System recorded 2003 sales during November 2018 YTD. This is 20.4% less than the number of sales during November 2017 YTD, and this decline is greater than the decline in the larger Simcoe region (-13.9%). The average price of homes in the city during this time was $475,340—4.3% less than the average price in the same timeframe last year. This decline in average price is around the same as the decline in all of Simcoe County (-4.1%). Residential sales in Barrie totalled 49.2% of all sales in Simcoe County during November 2018 YTD. This is 4 share points less than November 2017 YTD.

Simcoe County Excluding Barrie

Outside of Barrie, 2071 sales were recorded—6.4% less than the number of sales during November 2017 YTD. However, this decline is not as great as the decline in total Simcoe County (-13.9%). The average price of homes during this time was $523,532, and this is 4.6% less than the average price of homes sold last year in this timeframe. This decline is slightly greater than the decline in the total Simcoe area (-4.1%). Home sales from Simcoe County excluding Barrie accounted for 50.8% of sales in the Simcoe region, and this is 4 share points more than that of last year.

 


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