Barrie and Area - Market Stats - January 2021

By: Brandon Schmidt

Barrie and Area - Market Stats - January 2021

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Barrie & District Association of REALTORS® MLS® home sales start off the year at a record pace. 

 

The number of homes sold through the MLS® System of the Barrie & District Association of REALTORS® totaled 302 units in January 2021. This was an increase of 26.9% from January 2020. This was also a new sales record for the month of January. 

 

 

Within the City of Barrie, residential sales activity numbered 154 units in January 2021. This was an increase of 19.4% on a year-over-year basis. Sales activity posted a large increase of 35.8% on a year-over-year basis in surrounding areas, where sales totaled 148 units in January 2021. "2021 is picking up right where 2020 left off for the real estate market," said Chantal Godard, President of the Barrie & District Association of REALTORS®. "A record number of sales is perhaps being held back by a lack of available listings. 

 

The statistic to watch through the spring market is new listings. The demand is there and REALTORS® are looking to sell everything that comes on the market." The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. 

 

The overall MLS® HPI composite benchmark price was $637,500, rising 27.6% in January 2021 compared to January 2020. The benchmark price for single-family homes was $670,000, rising 28.7% on a year-over-year basis in January. By comparison, the benchmark price for townhouse/row units was $467,800, a large increase of 34.4% compared to a year earlier, while the benchmark apartment price was $376,400, up 9.5% from year-ago levels. 

 

The average price of homes sold in January 2021 was a record $759,372, a large increase of 36.9% from January 2020. The year-to-date average price figure for homes sold within the City of Barrie in January 2021 was $694,664. This was a large increase of 36.6% compared to the same month in 2020. 

 

The year-to-date average price figure in surrounding areas in January 2021 was $826,702, significantly increasing by 35.7% compared to the same month in 2020. 

 

The Barrie & District Association of REALTORS® cautions that over time the use of average price information can be useful in establishing trends but does not indicate actual prices in widely divergent areas or account for price differentials between geographical areas. 

 

The dollar value of all home sales in January 2021 was $229.3 million, a large increase of 73.7% from the same month in 2020. This was also a new record for the month of January. There were 365 new residential listings in January 2021. This was down 27.9% from the end of January 2020. This was the lowest number of new listings added in the month of January in two decades. 

 

Active residential listings numbered 226 units at the end of January. This was a large decline of 68.5% from the end of January 2020. 

 

Active listings haven't been this low in the month of January in more than 25 years. Months of inventory numbered 0.7 at the end of January 2021, down from the 3 months recorded at the end of January 2020 and below the long-run average of 3.5 months for this time of year. 

 

The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity. 

 

The Barrie and District Association of REALTORS® Inc. covers a geographical area that includes the City of Barrie and part or all of the surrounding townships, including Springwater, Oro-Medonte, Innisfil, Essa, Bradford-West Gwillimbury, and Clearview. The Association provides continuing education, Multiple Listing Service® (MLS®), statistical information, and many other services to its members.

 

BOARD & ASSOCIATION INFORMATION

 

The Barrie and District Association of REALTORS® Inc. covers a geographical area that includes the City of Barrie and part or all of the surrounding townships, including Springwater, Oro-Medonte, Innisfil, Essa, Bradford-West Gwillimbury, and Clearview. The Association provides continuing education, Multiple Listing Service® (MLS®), statistical information, and many other services to its members.

 

The average price information quoted can be useful in establishing trends over time but does not indicate actual prices in centers comprised of widely divergent neighborhoods, or account for price differentials between geographical areas.