March 2023 Market Update

KEY TAKEAWAYS:

• 378 residential units were sold in Simcoe County last month— a 31.9% decrease from March 2022
• Average price of residential units sold in Simcoe County was $821,378, which was 18.1% less than March 2022
• 195 units were sold during March 2023 within the City of Barrie—27.8% less than the number of units sold in March 2022
• Average price of residential Barrie units sold during March 2023 was $725,965—21.9% less than the average sale price during March 2022
• The price range with the smallest decline in sales was the $$485,000 to $628,999 range, where they decreased 21.1 percent
• Market-wide, inventory levels were up 49.9 percent. The property type that gained the most inventory was the Townhouse/Condo segment, where it increased 100.0 percent
• Months supply of inventory for Single Family homes amounts to 2.4 months while Townhouse/Condo amounts to 2.6 months