LOCATIONS B R O K E R A G E
BARRIE REAL ESTATE MARKET REPORT
FEBRUARY 2021 RECIPIENT OF ROYAL LEPAGE’S BROKERAGE OF THE YEAR AWARD FOR ONTARIO
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LOCATIONS B R O K E R A G E
OVERVIEW A STRATOSPHERIC JUMP IN SALES AND AVERAGE SALE PRICES
RECORD YEAR-TO-DATE SALES VOLUME OF $348,085,882 Up 88% from 2020’s $185,548,477, with units of 496 up 38% from 2020’s 360. New listings of 685 up 27% from one year ago, with the sales/listings ratio of 72% up 5%.
RECORD FEBRUARY SALES VOLUME OF $240,643,251 Up 101% from last February’s $119,516,379. Record February units of 340 up 48% from last year’s 230. New listings of 491 up 61% from a year ago, with the sales/listing ratio of 69% down 6%.
RECORD YEAR-TO-DATE AVERAGE SALE PRICE OF $701,786 Up 36% from last year’s $515,412. Average days-on-market of 11 down 21 days.
BARRIE MARKET REPORT: FEBRUARY 2021
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OVERVIEW (cont’d) THE DEMAND FOR LISTINGS IS GREATER THAN THE SUPPLY The Barrie market had a very high 111.3% sale/list price ratio in February. Homes sold in just 8 days on average, down 17 days from a year ago. And there is now just one month of inventory. All that, and February’s 72% sales/listings ratio – which is relatively high for the month – add up to a strong sellers’ market. Graph 1: Barrie MLS® Sales 2019 vs. 2020 vs. 2021 (Volume) $400,000,000
$348,085,882
$350,000,000 $300,000,000 $250,000,000
$185,548,447
$200,000,000 $150,000,000 $100,000,000
$98,282,363
$50,000,000 $0
2019
2020
2021
Graph 2: Barrie MLS® Sales 2019 vs. 2020 vs. 2021 (Units) 600
496
500
400
360
300
230 200
100
0
2019
BARRIE MARKET REPORT: FEBRAURY 2021
2020
2021
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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
$98,282,363
$185,548,477
$348,085,882
+88%
Annual Unit Sales
210
360
496
+38%
Annual New Listings
474
539
685
+27%
64
34
18
-47%
44%
67%
72%
+5%
$50,691,154
$119,516,379
$240,643,251
+101%
February U nit Sales
106
230
340
+48%
February New Listings
237
305
491
+61%
36
12
2
-83%
45%
75%
69%
-6%
February Average Sale Price
$478,218
$519,636
$707,774
+36%
Annual Sales: Under $250K
5
1
0
-100%
Annual Sales: $250K - $399K
47
61
24
-61%
Annual Sales: $400K - $549K
114
163
70
-57%
Annual Sales: $550K - $699K
35
110
142
+29%
Annual Sales: $700K - $849K
7
19
158
+732%
Annual Sales: $850K - $999K
1
5
80
+1500%
Annual Sales: $1M+
1
1
22
+2100%
34
32
11
-66%
$468,011
$515,412
$701,786
+36%
Annual Volume Sales
Annual Expired Listings Annual Sales/Listings Ratio February Volume Sales
February Expired Listings February Sales/Listings Ratio
Annual Average Days-On-Market Annual 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 March. 3, 2021.. While deemed to be reliable, Royal LePage Locations North assumes no responsibility for errors and omissions.
BARRIE MARKET REPORT: FEBRUARY 2021
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THE MARKET IN DETAIL (cont’d) The 2021 Barrie market has picked up where 2020 left off – and then some! As Graph 3 shows, following on a big record January, February sales – usually slow – skyrocketed to a new all-time monthly record, up 9% from last July’s prior benchmark. On the units side, Graph 4 shows a similar pattern. However, February’s 340 sales were the second best monthly total ever after last July’s 381. The biggest story though is the huge shift in sales by price range. A year ago, 63% of sales were in the Under-$550K range and just 7% were in the $700K+ range. In 2021, just 19% of sales are in the Under-$550K range while 52% are in the $700K+ range. Not surprisingly, Barrie’s year-to-date average sale price is doing very well. It’s up 70%, 43%, 46%, 50% and 36% from 2016-2020 respectively. Graph 3: Barrie Monthly MLS® Sales 2019 vs. 2020 vs. 2021 (Volume) $300,000,000
2019 2020
$250,000,000
2021 $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) 450
2019
400
2020
350
2021
300 250 200 150 100 50
0
BARRIE MARKET REPORT: FEBRUARY 2021
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
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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 29%, 732%, 1500% and 2100% respectively. The Under-$250K, $250K-$399K and $400K-$549K ranges are down 100%. 61% and 57% respectively. More generally, the Under-$400K bracket – which accounts for 5% of 2021’s sales – is down 61% from 2020. The $400K-$699K bracket – which accounts for 43% of all sales – is down 22%. And the $700K+ bracket – which accounts for 52% of all sales – is up 940%. Graph 5: Barrie MLS® Sales By Price 2019 vs. 2020 vs. 2021 (Units) 180
2019
160
163
2020
158
140
2021
142
120 114
100
110
2019
80
2020
80
2021
70
60
61 47
40
35
20
24 5
0
1
7
0
Under $250K
$250K-$399K
$400K-$549K
$550K-$699K
BARRIE MARKET REPORT: FEBRUARY 2021
19
$700K-$849K
1
5
$850-$999K
22 1
1 $1M+
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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
DOLLAR SALES : $272,686,300 $40,248,752 UP 98% from 2020
$40,248,752
$35,150,830
$35,150,830
69
UNIT SALES: 351 UP 45% from 2020
76
AV. DAYS-ON-MARKET: 8 DOWN 18 days from 2020
$272,686,300
351 Single Family
Single Family Condominium
2020
Townhouse
2020
2020
Townhouse
52
$137,910,757
242
Single Family
Single Family
Condominium
Condominium
2019
$11,028,121
Single Family
Condominium
2020 Townhouse
CONDOMINIUMS $25,815,600
$21,822,120
DOLLAR SALES: $35,150,830 UP 36% from 2020 UNIT SALES: 76 UP 15% from 2020
66
Townhouse
$272,686,300
AV. SALE PRICE: $776,884 UP 36% from 2020
Condominium
$21,822,120
$25,815,600
SINGLE-FAMILY HOMES 2021
2019
2019
Townhouse
$8,570,038
23
AV. DAYS-ON-MARKET: 25 $137,910,757 DOWN 22 days from 2020 AV. SALE PRICE: $462,511 Single Family UP 18% from 2020
2019
Condominium Townhouse
$8,570,038 TOWNHOUSES
$11,028,121
DOLLAR SALES: $40,248,752 UP 84% from 2020
31
UNIT SALES: 69 UP 33% from 2020 $78,684,204
156
Single Family
Single Family
Condominium
Condominium
Single Family Townhouse
Condominium
BARRIE MARKET REPORT: FEBRARY 2021
Townhouse Townhouse
$78,684,204
AV. DAYS-ON-MARKET: 7 DOWN 12 days from 2020 Single Family
AV. SALE PRICE: $583,315 Condominium UP 39% from 2020 Townhouse www.locationsnorth.com
LOCATIONS B R O K E R A G E
BARRIE AVERAGE SALE PRICES: 2010-2020 BIG GAINS GENERALLY AND ALSO RELATIVE TO INFLATION Barrie’s average sale price for single-family homes in 2020 was $619,832: that’s up 15%, 20%, 15%, 39% and 122% from 2019, 2018, 2017, 2016 and 2010 respectively. 2020’s average condo price of $409,021 was up 10%, 13%, 19%, 46% and 91% from 2019, 2018, 2017, 2016 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 90% above in 2020. The condo average sale price rose at roughly the inflation rate until 2015 before rising to 90% above inflation in 2020.
$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
Single-Family Home Average Sale Price: 2010 > 2020 Canada’s Inflation Rate Based On Barrie’s 2010 Single-Family Home Average Sale Price Condominium Average Sale Price: 2010 > 2020 Canada’s Inflation Rate Based On Barrie’s 2010 Condominium Average Sale Price
BARRIE MARKET REPORT: FEBRARY 2021
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