May 2023 Market Update

KEY TAKEAWAYS:

• 719 residential units were sold in Simcoe County last month— a 12.3% increase from May 2022
• Average price of residential units sold in Simcoe County was $791,210, which was 12.4% less than May 2022
• 237 units were sold during May 2023 within the City of Barrie—18.5% more than the number of units sold in May 2022
• Average price of residential Barrie units sold during May 2023 was $769,947—8.0% less than the average sale price during May 2022
• The price range with the largest gain in sales was the $485,000 to $628,999 range, where they increased 11.0 percent
• Market-wide, inventory levels were down 19.5 percent. The property type that lost the least inventory was the Townhouse/Condo segment, where it decreased 7.5 percent
• Months supply of inventory for Single Family homes amounts to 2.6 months while Townhouse/Condo amounts to 2.5 months