LOCATIONS B R O K E R A G E
BARRIE REAL ESTATE MARKET REPORT
AUGUST 2021 RECIPIENT OF ROYAL LEPAGE’S BROKERAGE OF THE YEAR AWARD FOR ONTARIO
www.locationsnorth.com
LOCATIONS B R O K E R A G E
OVERVIEW SECOND BEST AUGUST VOLUME EVER, WITH UNITS DOWN PARTLY DUE TO FAR FEWER LISTINGS
RECORD YEAR-TO-DATE SALES VOLUME OF $1,776,138,005 Up 66% from 2020’s $1,067,052,935, with units of 2448 up 26% from 2020’s 1942. New listings of 3102 up 15% from one year ago, with the sales/listings ratio of 79% up 7%.
AUGUST SALES VOLUME OF $149,552,628 Down 19% from last August’s $185,393,031. Units of 200 down 38% from last year’s 321. New listings of 233 down 39% from a year ago, with the sales/listing ratio of 86% up 3%.
RECORD YEAR-TO-DATE AVERAGE SALE PRICE OF $725,547 Up 32% from last year’s $549,461. Average days-on-market of 10 down 14 days.
BARRIE MARKET REPORT: AUGUST 2021
www.locationsnorth.com
LOCATIONS B R O K E R A G E
OVERVIEW (cont’d) THE DEMAND FOR LISTINGS IS GREATER THAN THE SUPPLY The Barrie market had a high 103.9% sale/list price ratio in August. Homes sold in just 12 days on average, down 6 days from a year ago, and there is now just one month of inventory. All that, together with August’s high 86% sales/listings ratio, adds up to a strong sellers’ market. Graph 1: Barrie MLS® Sales 2019 vs. 2020 vs. 2021 (Volume) $2,000,000,000
$1,776,138,005
$1,800,000,000 $1,600,000,000 $1,400,000,000 $1,200,000,000
$1,067,052,935
$1,000,000,000 $800,000,000
$763,290,238
$600,000,000 $400,000,000 $200,000,000 $0
2019
2020
2021
Graph 2: Barrie MLS® Sales 2019 vs. 2020 vs. 2021 (Units) 3,000
2,448
2,500
1,942
2,000
1,500
1,557
1,000
500
0
2019
BARRIE MARKET REPORT: AUGUST 2021
2020
2021
www.locationsnorth.com
LOCATIONS B R O K E R A G E
THE MARKET IN DETAIL Table 1: Barrie MLS® Residential Sales And Listing Summary 2019 vs. 2020 vs. 2021
2019
2020
2021
2020-2021
$763,290,238
$1,067,052,935
$1,776,138,005
+66%
YTD Unit Sales
1557
1942
2448
+26%
YTD New Listings
2923
2694
3102
+15%
YTD Sales/Listings Ratio
53%
72%
79%
+7%
YTD Expired Listings
257
116
66
-34%
August Volume Sales
$109,834,505
$185,393,031
$149,552,628
-19%
August U nit Sales
224
321
200
-38%
August New Listings
328
385
233
-39%
August Sales/Listings Ratio
68%
83%
86%
+3%
53
7
15
+114%
$490,333
$577,548
$747,763
+29%
19
12
0
-1200%
YTD Sales: $250K - $399K
347
235
82
-65%
YTD Sales: $400K - $549K
771
787
305
-61%
YTD Sales: $550K - $699K
332
667
716
+7%
YTD Sales: $700K - $849K
60
189
813
+330%
YTD Sales: $850K - $999K
15
37
368
+895%
YTD Sales: $1M+
13
15
163
+987%
YTD Average Days-On-Market
32
24
10
-58%
$490,231
$549,461
$725,547
+32%
Year-To-Date (YTD) Volume Sales
August Expired Listings August Average Sale Price YTD Sales: Under $250K
YTD Average Sale Price
NOTE: All MLS® sales data in this report comes from the Barrie & District Association Of REALTORS® and refers specifically to residential sales as of Sept.. 3, 2021.. While deemed to be reliable, Royal LePage Locations North assumes no responsibility for errors and omissions.
BARRIE MARKET REPORT: AUGUST 2021
www.locationsnorth.com
LOCATIONS B R O K E R A G E
THE MARKET IN DETAIL (cont’d) Barrie volume and unit sales continued to fall in August from their first and second quarter heights. That said, Graph 3 shows that August’s volume of $149,552,628, although down 19% from last year’s record, was still the month’s second best ever. On the units side, August’s 200 sales were not only down 38% from last year’s record 321, they were the second fewest in the last decade. However, August’s new listings were down 39% and the sales/listings ratio was a high 86%: that’s 3% greater than last year. So there is still a big demand for listings, with an average days-on-market of just 10 days: if you list it they will come. Lastly, the average sale price is still doing very nicely: At $725,547 it’s up 80%, 43%, 51%, 48% and 32% from 2016-2020 respectively. Graph 3: Barrie Monthly MLS® Sales 2019 vs. 2020 vs. 2021 (Volume) $400,000,000
2019
$350,000,000
2020
$300,000,000
2021
$250,000,000 $200,000,000
$150,000,000 $100,000,000 $50,000,000 $0
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Graph 4: Barrie Monthly MLS® Sales 2019 vs. 2020 vs. 2021 (Units) 600
2019 2020
500
2021 400
300
200
100
0
BARRIE MARKET REPORT: AUGUST 2021
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
www.locationsnorth.com
LOCATIONS B R O K E R A G E
THE MARKET IN DETAIL (cont’d) As Graph 5 shows, 2021 unit sales are up from 2020 in four price ranges and down in three. The $550K-$699K, $700K-$849K, $850-$999K and $1M+ ranges are up 7%, 330%, 895% and 987% respectively. The Under-$250K, $250K-$399K and $400K-$549K ranges are down 1200%. 65% and 61% respectively. More generally, the Under-$400K bracket – which accounts for 3% of 2021’s sales – is down 67% from 2020. The $400K-$699K bracket – which accounts for 42% of all sales – is down 30%. And the $700K+ bracket – which accounts for 55% of all sales – is up 458%. Graph 5: Barrie MLS® Sales By Price 2019 vs. 2020 vs. 2021 (Units) 900
2019
800 771
700
2020
813
787
2021
716 667
600 500
2019
400 347
300
305
332
2021
235
200
189
163
100 0
2020
368
19
12
0
Under $250K
82 $250K-$399K
$400K-$549K
$550K-$699K
BARRIE MARKET REPORT: AUGUST 2021
37
60
15
$700K-$849K
$850-$999K
13
15 $1M+
www.locationsnorth.com
LOCATIONS B R O K E R A G E
SALES BY PROPERTY TYPE Graph 6: Barrie MLS® Sales By Property Type 2019 vs. 2020 vs. 2021 (Dollars and Units)
2021
2021 IN DETAIL 2021
2021
$214,924,202
$165,677,314
360
1,748 Single Family
Single Family
Townhouse
$103,491,780
UP 63% from 2020
AV. DAYS-ON-MARKET: 9 DOWN 14 days from 2020
$1,395,536,489
2020
DOLLAR SALES : $1,395,536,489 $214,924,202 $165,677,314 UNIT SALES: 1748 UP 21% from 2020
340
Condominium
SINGLE-FAMILY HOMES 2021
Condominium
2020
2020
Townhouse
$106,565,577
243 260
$1,395,536,489
AV. SALE PRICE: $798,362 UP 34% from 2020 Single Family
Condominium
2020 Townhouse
CONDOMINIUMS $106,565,577
$103,491,780
DOLLAR SALES: $165,677,314 UP 60% from 2020 UNIT SALES: 340 UP 31% from 2020
$856,995,578
Single Family
Single Family
Condominium
Condominium
2019
Townhouse
$83,075,321
1,439
2019
2019
Townhouse
$92,918,083
238
AV. DAYS-ON-MARKET: 18 $856,995,578 DOWN 17 days from 2020 AV. SALE PRICE: $487,286 Single Family UP 22% from 2020
2019
Condominium Townhouse
$92,918,083 TOWNHOUSES
$83,075,321
DOLLAR SALES: $214,924,202 UP 101% from 2020
224
UNIT SALES: 360 UP 88% from 2020 $587,296,834
1,095
Single Family
Single Family
Condominium
Condominium
Single Family Townhouse
Condominium
BARRIE MARKET REPORT: AUGUST 2021
Townhouse Townhouse
$587,296,834
AV. DAYS-ON-MARKET: 8 DOWN 9 days from 2020 Single Family
AV. SALE PRICE: $597,012 Condominium UP 36% from 2020 Townhouse www.locationsnorth.com
LOCATIONS B R O K E R A G E
BARRIE AVERAGE SALE PRICES: 2010-2021 BIG GAINS GENERALLY AND ALSO RELATIVE TO INFLATION Barrie’s average sale price for single-family homes in Q2-2021 was $795,300: that’s up 28%, 48%, 54%, 47% and 185% from 2020, 2019, 2018, 2017 and 2010 respectively. Q2-2021’s average condo price of $488,648 was up 19%, 31%, 34%, 42% and 128% from 2020, 2019, 2018, 2017 and 2010 respectively. In 2010-11 Barrie’s average single-family home price increased at about the inflation rate. From 2012-17 it rose to 74% above inflation, before dipping in 2018-19 and then reaching 131% above in Q2-2021. The condo average sale price rose at roughly the inflation rate until 2015 before rising to 88% above inflation in Q2-2021.
$800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
Q2-2021
Single-Family Home Average Sale Price: 2010 > Q2-2021 Canada’s Inflation Rate Based On Barrie’s 2010 Single-Family Home Average Sale Price Condominium Average Sale Price: 2010 > Q2-2021 Canada’s Inflation Rate Based On Barrie’s 2010 Condominium Average Sale Price
BARRIE MARKET REPORT: AUGUST 2021
www.locationsnorth.com