Simcoe County’s housing market correction continued into August.
Statistics released by the Barrie and District Association of Realtors (BDAR) on September 8 show that the number of residential units sold and the average price of those homes are down in the area. There were 522 units sold in the county last month, 29.4% less than in August 2021, while the average sale price fell to $747,966, 6.6% less than there. one year old.
“Housing market activity continues to move well below typical August levels as rising interest rates continue to impact affordability,” said BDAR Chairman, Luke Woolsey. “On the other hand, the overall inventory of homes on the market is well above the low levels seen earlier in the year, which is good news for anyone looking to buy or for those waiting for an opportunity. . enter the market”.
In Barrie, 165 residential units were sold last month, down 19.1% from August 2021. The average price fell 5% over the past year to $710,675.
Woolsey said there are around 3.7 months of stock available in the market these days, well above the 0.8 months of stock in August 2021.
Here’s how other municipalities in the county fared last month:
• Collingwood — Thirty-eight homes sold at an average price of $770,395, down 44.1 and 7.2 per cent, respectively, from August 2021.
• Innisfil — Thirty-eight homes sold for an average of $865,999, a drop of 28.3 and 7 per cent, respectively.
• Midland — Twenty-one units sold for an average of $566,667, down 40% and 16.2%, respectively.
• Orillia — Fifty-two homes sold for an average of $636,617, a drop of 16.1 and 3.8 per cent, respectively.
• Wasaga Beach — Twenty-six units sold at an average price of $705,762, down 60% and 2.9%, respectively.
Year-to-date, 4,712 Resident Units have been sold countywide (down 36.2% from the same period in 2021) for an average price of $901,688 (up 16 .2% compared to the first eight months of last year).
BDAR represents over 1,500 real estate agents in the region. To view the full report, visit bdar.ca.