January 2023 Market Update

KEY TAKEAWAYS:

• 288 residential units were sold in Simcoe County last month— a 32.6% decrease from January 2022
• Average price of residential units sold in Simcoe County was $818,299, which was 16.7% less than January 2022
• 91 units were sold during January 2023 within the City of Barrie—39.7% less than the number of units sold in January 2022
• Average price of residential Barrie units sold during January 2023 was $724,037—22.7% less than the average sale price during January 2022
• The price range with the smallest decline in sales was the $629,000 and Above range, where they decreased 31.9 percent
• Market-wide, inventory levels were up 280.5 percent. The property type that gained the most inventory was the Townhouse/Condo segment, where it increased 346.3 percent
• Months supply of inventory for Single Family homes amounts to 1.7 months while Townhouse/Condo amounts to 2.3 months