Simcoe County’s housing market put on a dynamic performance in September, according to one local realtors group.
The Barrie and District Association of Realtors (BDAR) released its latest round of monthly statistics, which show year-over-year growth and evolving market conditions. In September 2024, home sales in Simcoe County totalled 564 units, an 11.9-per-cent jump from 504 in the same month last year. The average sale price reached $858,422, a 4.36-per-cent increase from September 2023.
That indicates a “sustained upward trend in property values,” BDAR says.
Other positive market indicators include a surge in new listings (2,045 properties hit the market last month, up 7.9 per cent year-over-year), active listings (climbed 29.91 per cent year-over-year to 3,661) and months of inventory (rose to 6.5 in September).
"September's statistics reveal a market that is maintaining its upward momentum,” BDAR chair Lindsay Percy said. “The combination of rising prices, increased inventory, and consistent sales activity is creating a healthier market dynamic where both buyers and sellers can thrive. As we head into the fall season, we anticipate this balanced trend to continue.”
Specifically within Bradford last month, 22 homes were sold — down 21.4 per cent from September 2023. The year-over-year sales price rose by .3 per cent, however, to just over $1 million.
Meanwhile, new listings (117) dropped by 17 per cent year-over-year. Active listings (180) and months of inventory (8.2) showed growth compared to September 2023, at 1.7 and 29.4 per cent, respectively.
Innisfil’s year-over-year trend shows growth across the board, with the number of units sold (56), average price ($972,005), new listings (262), active listings (421) and months of inventory (7.5) each rising by 9.8, 6.1, 22.4, 31.6 and 19.8 per cent, respectively.
Here’s how three other municipalities within BDAR's coverage area fared last month:
- Barrie — Overall, 173 homes sold in September, up 4.9 per cent from the same month the year prior. The average sale price was $737,810 last month, a drop of 2.3 per cent from one year ago. New listings grew 1.9 per cent to 544 over that span, as did active listings (25.9 per cent to 827) and months of inventory (up 20.1 per cent to 4.8).
- Essa — Twenty-four units sold (up 41.2 per cent, when compared to figures from a year ago) for an average of $823,196 (up 8.6 per cent). New listings rose 54.4 per cent to 71, active listings jumped 71.4 per cent to 108, and there were 4.5 months of inventory, up 21.4 per cent from September 2023.
- Orillia — Forty units sold (a 21.2-per-cent climb) for an average of $731,409 (up 4.4 per cent). Numbers grew substantially for new listings (25.4 per cent to 89) and active listings (44.3 per cent to 163), while months of inventory (19 per cent to 4.1) also rose from September 2023.
Across Ontario, home prices were stable in September by comparison with August, continuing a trend of broad stability set in February, figures released Tuesday by the Canadian Real Estate Association show.
On a year-over-year basis, the average single-family home in the province sold for $954,000 in September, down 4.5 per cent from the average of $999,500 they sold for in September 2023.
The provincial numbers are seasonally adjusted and do not take inflation into account.
Inflation, depending on what measure you choose, is running at between 1.6 and 2.4 per cent.
“With the pace of rate cuts now expected to be much faster than previously thought, it’s possible some buyers may choose to hold off on a purchase for now. This could further boost the rebound expected in 2025 at the expense of the last few months of this year.” CREA senior economist Shaun Cathcart said in a release.
On a province-wide basis, prices for condos in a year-over-year comparison fell 7.8 per cent, and townhouses fell 5.7 per cent.
“The beginning of September saw a burst of new supply for buyers to choose from before things generally quiet down for the winter,” CREA chair James Mabey said in a release.
“While some buyers may choose to take advantage, others may be inclined to wait as the bulk of future rate cuts from the Bank of Canada are now expected to show up in a matter of months as opposed to years."
BDAR represents more than 1,600 realtors in the Barrie and Simcoe County area. For more, visit bdar.ca.
Use the interactive below to explore your region.
