Barrie Real Estate Market Report

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BARRIE REAL ESTATE MARKET REPORT

SECOND QUARTER 2021 RECIPIENT OF ROYAL LEPAGE’S BROKERAGE OF THE YEAR AWARD FOR ONTARIO

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OVERVIEW SALES GRADUALLY SLOWING FROM MARCH’S HIGH, BUT STILL SETTING BIG VOLUME RECORDS

RECORD Q2 SALES VOLUME OF $747,643,641 Up 119% from Q2-2020’s $341,155,728, with units of 1012 up 60% from Q2-2020’s 631. New listings of 1311 up 38% from one year ago, with the sales/listings ratio of 77% up 10%.

RECORD JUNE SALES VOLUME OF $210,540,464 Up 16% from last June’s $181,484,344. with units of 282 down 13% from last year’s 326. New listings of 398 down 11% from a year ago, with the sales/listing ratio of 71% down 2%.

RECORD YEAR-TO-DATE AVERAGE SALE PRICE OF $723,113 Up 36% from last year’s $532,983. Average days-on-market of 10 down 15 days.

BARRIE MARKET REPORT: SECOND QUARTER 2021

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OVERVIEW (cont’d) THE DEMAND FOR LISTINGS IS GREATER THAN THE SUPPLY The Barrie market had a high 102.1% sale/list price ratio in June. Homes sold in just 15 days on average, down 23 days from a year ago. There is currently one month of inventory. All that, together with June’s 71% sales/listings ratio, add up to a strong sellers’ market.

Graph 1: Barrie MLS® Sales 2019 vs. 2020 vs. 2021 (Volume) $1,600,000,000

$1,440,440,694 $1,400,000,000 $1,200,000,000 $1,000,000,000 $800,000,000 $600,000,000

$660,898,770 $545,291,587

$400,000,000 $200,000,000 $0

2019

2020

2021

Graph 2: Barrie MLS® Sales 2019 vs. 2020 vs. 2021 (Units) 2,500

1,992

2,000

1,500

1,109

1,240

1,000

500

0

2019

BARRIE MARKET REPORT: SECOND QUARTER 2021

2020

2021

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THE MARKET IN DETAIL Table 1: Barrie MLS® Residential Sales And Listing Summary 2019 vs. 2020 vs. 2021

2019

2020

2021

2020-2021

$545,291,587

$660,898,770

$1,440,440.694,

+118%

YTD Unit Sales

1109

1240

1992

+60%

YTD New Listings

2169

1891

2600

+37%

YTD Sales/Listings Ratio

51%

66%

77%

+11%

YTD Expired Listings

158

98

42

-57%

$349,502,466

$341,155,728

$747,643,641

+119%

701

631

1012

+60%

1329

947

1311

+38%

53%

67%

77%

+10%

73

64

20

-69%

$498,577

$540,659

$738,778

+37%

$112,070,524

$181,484,344

$210,540,464

+16%

June U nit Sales

229

326

282

-13%

June New Listings

423

448

398

-11%

June Sales/Listings Ratio

54%

73%

71%

-2%

35

26

6

-77%

$489,391

$556,700

$746,597

+34%

16

7

0

-700%

YTD Sales: $250K - $399K

236

165

64

-61%

YTD Sales: $400K - $549K

557

544

251

-54%

YTD Sales: $550K - $699K

239

413

607

+47%

YTD Sales: $700K - $849K

42

85

645

+659%

YTD Sales: $850K - $999K

9

17

298

+1653%

YTD Sales: $1M+

10

9

127

+1311%

YTD Average Days-On-Market

31

25

10

-60%

$491,697

$532,983

$723,113

+36%

Year-To-Date (YTD) Volume Sales

Second Quarter (Q2) Volume Sales Q2 U nit Sales Q2 New Listings Q2 Sales/Listings Ratio Q2 Expired Listings Q2 Average Price June Volume Sales

June Expired Listings June Average 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 July. 3, 2021.. While deemed to be reliable, Royal LePage Locations North assumes no responsibility for errors and omissions.

BARRIE MARKET REPORT: SECOND QUARTER 2021

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THE MARKET IN DETAIL (cont’d) As Graphs 3 and 4 show, although the Barrie market is gradually cooling from from March’s extraordinary high, Q2 still enjoyed huge record volume sales, as well as strong unit sales. On the volume side, Q2 saw three record months – that’s thirteen straight overall. The quarter’s $747,643,641 was up 119% from last year, and up 68% from 2016’s prior high. Additionally, Q2’s average price was up 37% from Q2-2020’s. On the units side, June sales dipped 13% from one year ago, and while Q2’s 1012 sales were up 60% from Q2-2020, they were down 7% from 2015’s benchmark 1094. All that said, Barrie’s year-to-date average sales price is doing very well. At $723,113 it’s up 82%, 41%, 50%, 47% and 36% from 2016 to 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

Jan

BARRIE MARKET REPORT: SECOND QUARTER 2021

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 47%, 659%, 1653% and 1311% respectively. The Under-$250K, $250K-$399K and $400K-$549K ranges are down 700%. 61% and 54% respectively. More generally, the Under-$400K bracket – which accounts for 3% of 2021’s sales – is down 63% from 2020. The $400K-$699K bracket – which accounts for 43% of all sales – is down 10%. And the $700K+ bracket – which accounts for 54% of all sales – is up 864%.

Graph 5: Barrie MLS® Sales By Price 2019 vs. 2020 vs. 2021 (Units) 700

2019 645

600

2020

607 557

500

2021

544

400

413

2019 300

2020

298 251

236

200

2021

239

165 127

100

0

16

7

0

Under $250K

85

64 $250K-$399K

$400K-$549K

$550K-$699K

17

42

9

$700K-$849K

$850-$999K

BARRIE MARKET REPORT: SECOND QUARTER 2021

10

9 $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 $134,378,314

2021 IN DETAIL 2021

2021

$175,940,401

296

1,421 Single Family

Single Family

Townhouse

$64,298,700

2020

2020

Townhouse

159 166

$529,067,702

$56,983,889

Single Family

915 Single Family

Condominium

Condominium

2019

2019

Condominium

2020 Townhouse

CONDOMINIUMS $67,532,638

$64,298,700

DOLLAR SALES: $134,378,314 UP 109% from 2020 UNIT SALES: 275 UP 66% from 2020

Single Family

2019

$1,130,121,979

AV. SALE PRICE: $795,300 UP 38% from 2020

Condominium

$67,532,638

Townhouse

UP 114% from 2020

AV. DAYS-ON-MARKET: 8 DOWN 16 days from 2020

$1,130,121,979

2020

DOLLAR SALES : $1,130,121,979 $175,940,401 $134,378,314 UNIT SALES: 1421 UP 55% from 2020

275

Condominium

SINGLE-FAMILY HOMES 2021

Townhouse

$63,316,382

161

AV. DAYS-ON-MARKET: 18 $529,067,702 DOWN 20 days from 2020 AV. SALE PRICE: $488,648 Single Family UP 26% from 2020

2019

Condominium Townhouse

$63,316,382 TOWNHOUSES

$56,983,889

DOLLAR SALES: $175,940,401 UP 161% from 2020

157

UNIT SALES: 296 UP 86% from 2020 $424,991,316

791

Single Family

Single Family

Condominium

Condominium

Single Family Townhouse

Condominium

Townhouse Townhouse

BARRIE MARKET REPORT: SECOND QUARTER 2021

$424,991,316

AV. DAYS-ON-MARKET: 8 DOWN 10 days from 2020 Single Family

AV. SALE PRICE: $594,393 Condominium UP 40% from 2020 Townhouse www.locationsnorth.com

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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 Q1-2021. 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: SECOND QUARTER 2021

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