Residential property sales have increased significantly in Barrie and Simcoe County

Ontario Construction News staff writer

Residential property sales were up across Simcoe County including Barrie in October 2019. The Barrie and District Association of Realtors Inc. (BDAR) region showed a large growth in the number of units sold, month-over-month and year-over-year. This growth was driven by both Barrie and Simcoe County excluding Barrie.

The Housing Price Index (HPI) showed a month-over-month increase of 1.15 per cent from September 2019.

Here’s what statistics show:

Month-Over-Month (October 2019 vs September 2019)
Simcoe County

514 residential units were sold in Simcoe County last month—an 18.2 per cent growth from September. During the same time last year (September 2018 to October 2018), there was only a 3.1 per cent growth in the number of units sold.

The average price of residential units sold last month was $522,527—a 2.6 per cent increase from September 2019. In comparison, the average price during 2018 decreased 3.0 per cent from September to October.

City of Barrie

237 units were sold last month within the city; 11.3 per cent more than the number of units sold in September. Last year, the number of units sold between October and September increased 6.4 per cent.

The average price of units sold within Barrie during October was $490,854. This was a 0.3 per cent increase than the average price during September 2019. In comparison, the average price between October and September 2018 also increased by 0.3 per cent.
Simcoe County excluding Barrie

In Simcoe County excluding Barrie last month, 277 units were sold. This was 24.8 per cent greater than the number of units sold during September 2019. In comparison, during the same time last year, the number of units sold remained balanced (0 per cent).

The average price of units sold in the areas outside of Barrie last month was $558,426. This was 5.2 per cent more than the month before. In 2018, the average price of units sold outside of Barrie declined 5.2 per cent during this same timeframe.

Year-Over-Year (October 2019 vs October 2018) All Residential Homes
The Housing Price Index (HPI) showed a year-over-year decrease of 0.35 per cent between October 2019 and October 2018.

Simcoe County

The number of residential units sold last month was 30.5 per cent more than the same time last year. As well, the average price of residential units sold was $522,527, which was 7.6 per cent greater than that of October 2018.

City of Barrie

The sales volume increased 19.1% fromOctober 2018.

The average price of residential Barrie units sold during October 2019 was 5.5 per cent greater than the average price of units sold during October 2018. Sales in Barrie accounted for 46.1 per cent of residential sales in Simcoe County last month.
Simcoe County excluding Barrie

Outside of  Barrie the umber of units sold increased 42.1 per cent during October 2019 compared to the number of units sold during October 2018.

The average price of units sold in Simcoe County excluding Barrie last month was an 11.5 per cent increase, year-over-year. Residential property sales outside of Barrie accounted for 53.9 per cent of sales in Simcoe County last month.