I am sure you, like everyone else, has been keeping a keen eye on the real estate market in Barrie & Simcoe County. Houses are selling quickly, over the asking price, for prices that are surprising to many home owners & realtors.
This time last year, we would have seen townhouses selling in the low $400,000 price range and now we are seeing them sell for in & around the $500,000 price range. Many of the buyers are coming from our Southern neighbours who are looking to move north for more land and better affordability which is what is truly making our house prices increase so drastically and quickly.
Simcoe County Real Estate Market Snapshot
Simcoe County has always been a strong real estate market but even thru a pandemic & the return back to school we continue to see it remain a very strong real estate market.
When we look at August 2020 versus August 2019, according to the Barrie Real Estate Board, there has been a 54.6% increase in total sales and 27.1% increase in average sale price in all of Simcoe County. However if we look at July 2020 versus August 2020, sales did decrease by 3.6%. This is actually a common occurrence every year seeing a slight dip in sales in August. During the same time frame last year in 2019, there was a 4.2% decrease in the number of units sold. August starts off strong and then slowly decreases as the closer we get to Labour Day weekend & the kids returning back to school. Most home owners & Buyers focus on the family and final trips before the new school year.
The average price of residential units sold last month was $633,689—a 6.5% increase from July 2020. This time last year, the average price decreased 2.5% from July to August.
Barrie Real Estate Market Snapshot – 2.1% decrease in Price; 11% Decrease in Sales
Now if you are most curious about Barrie in specific, we do have those statistics for you as well. Simcoe County Real Estate does cover a large number of townships so lets break if right down to the main focus of where our Team sells… Barrie.
In the month of August, according to the Barrie Real Estate Board, there was a total 320 units were sold last month within the City of Barrie, which was 11.1% less than the number of units sold back in July 2020.
The average price of units sold within Barrie during August 2020 was $567,469. This was 2.1% less than the average price during July 2020.
If you are curious to know what your home’s current value is please do not hesitate to give us a call. When a house is listed for sale, it does not mean that they sold for that specific asking price. Our market is ever changing week over week and we would love the opportunity to navigate these waters with you.
Your local Remax Real Estate Team
Heather Beauchesne & Mariale Schrobback