NEWS RELEASE BARRIE AND DISTRICT ASSOCIATION OF REALTORS ************************* The November 2021 sales information is in, and residential property sales recorded through the Matrix System for the Barrie and District Association of Realtors (BDAR) region showed strong year-over-year increases in the average price of units sold. This was driven by both the units sold within the City of Barrie and the areas outside of it. However, the number of transactions has decreased from the same time last year.
617 residential units were sold in Simcoe County last month — a 12.1 per cent decrease from October 2021. During the same time a year ago (October 2020 to November 2020), there was an 26.8 per cent decrease in the number of units sold.
The average price of residential units sold last month was $845,644 — a 1.5 per cent increase from October 2021. This growth was greater than the Month-over-month change in average price a year ago (+0.1 per cent).
City of Barrie
197 units were sold last month within the City of Barrie, which was 10.5 per cent less than the number of units sold the month prior. A year ago, the number of units sold between November and October decreased 24.5 per cent.
The average price of units sold within Barrie during November 2021 was $836,147. This was 8.6 per cent more than the average price during October 2021. In comparison, the average price of units sold between November 2020 and October 2020 increased 0.2 per cent.
City of Barrie – Apartments and condos
25 apartment and condo units were sold in Barrie last month — 26.5 per cent less than the number of units sold in October 2021. The average price of apartment and condo units sold in the City of Barrie last month was $559,692 — 10.3 per cent more than the average price in October 2021.
Simcoe County excluding Barrie
In Simcoe County excluding Barrie last month, 420 units were sold. This was 12.9 per cent less than the number of units sold during October 2021. At the same time a year ago, there was an 27.9 per cent decrease in the number of units sold outside of Barrie.
The average price of units sold in the areas outside of Barrie last month was $850,099. This was 1.5 per cent less than the month prior. Between November 2020 and October 2020, the average price of units sold outside of Barrie increased 0.2 per cent.
Innisfil
41 residential units were sold in Innisfil last month — a 29.3 per cent decrease from October 2021. During the same period a year ago (October 2020 to November 2020), there was a 30.8 per cent decrease in the number of units sold. The average price of residential units sold in Innisfil last month was approximately $989,879 — a 11.0 per cent increase from October 2021. In comparison, there was a 0.5 per cent decrease in average price from from October to November in 2020.
Orillia
47 residential units were sold in Orillia last month — a 19.0 per cent decrease from October 2021. During the same period a year ago (October 2020 to November 2020), there was an 32.5 per cent decrease in the number of units sold. The average price of residential units sold in Orillia last month was approximately $691,428 — a 4.7 per cent increase from October 2021. The average price a year ago increased 6.9 per cent from October to November.
Essa
In Essa last month, 31 residential units were sold. This was 16.2 per cent less than the month prior. During the same period a year ago, there was no change in the number of units sold. The average price of residential units sold in Essa last month was $879,230 — a 9.7 per cent decrease from October 2021. This time last year, the average price increased 8.0 per cent from October 2020 to November 2020.
Year-to-date (YTD) (November 2021 YTD vs November 2020 YTD)
All residential homes
Simcoe County
9,358 residential units were sold in Simcoe County during November 2021 Year-To-Date (YTD) (January 1st, 2021 – Nov. 30, 2021). This was 8.0 per cent more than what was sold during the same timeframe last year (Jan. 1, 2020 to Nov. 30, 2020). The average price of residential units sold during November 2021 YTD was $787,980. This was 32.7 per cent greater than the average price during the same timeframe last year.
City of Barrie
3,103 units were sold in the City of Barrie during November 2021 YTD. This was a 10.7 per cent growth from the same timeframe last year. This growth was greater than the growth in total Simcoe County (+8.0 per cent).
The average price of units sold within the City of Barrie during November 2021 YTD was $741,002. This was 31.6 per cent more than the same timeframe last year. This growth was less than what was seen in the total Simcoe region (+32.7 per cent). During November 2021 YTD, Barrie accounted for 33.2 per cent of residential properties sold. This was 0.8 share points more than the same timeframe during 2020.
City of Barrie – Apartments and condos
435 apartment and condo units were sold in Barrie during November 2021 YTD — 12.4 per cent more than the number of units sold in November 2020 YTD. The average price of apartment and condo units in the City of Barrie this year so far was $496,080. This was 21.8 per cent more than the average price during the same timeframe last year.
Simcoe County excluding Barrie
6,255 residential units were sold in the areas outside of Barrie during November 2021 YTD. This was 6.7 per cent more than the number of units sold during November 2020 YTD. This growth in number of units sold was less than the growth seen in the total Simcoe region (+8.0 per cent).
The average price of units sold during this time was $811,285. This was 33.3 per cent greater than what was seen during November 2020 YTD. This growth was greater than that of total Simcoe (+32.7 per cent). During November 2021 YTD, Simcoe County excluding Barrie accounted for 66.8 per cent of residential properties sold. This was 0.8 share points less than the same timeframe during 2020.
Innisfil
687 residential units were sold in Innisfil during November 2021 YTD. This was 9.2 per cent more than what was sold during the same timeframe last year (Jan. 1, 2020 to Nov. 30, 2020). The average price of residential units sold in November 2021 YTD was $861,222. This was 42.8 per cent greater than the average price during the same timeframe last year. During this time, Innisfil accounted for 7.3 per cent of sales in Simcoe County — a 0.1 share point change from the same timeframe last year.
Orillia
699 residential units were sold in Orillia from the beginning of 2021 to Nov. 30, 2021. This was 7.2 per cent more than what was sold during the same timeframe last year (Jan. 1, 2020 to Nov. 30, 2020). The average price of residential units sold during November 2021 YTD was $641,180. This was 35.8 per cent greater than the average price during the same timeframe last year. During November 2021 YTD, Orillia accounted for 7.5 per cent of sales in Simcoe County, 0.1 share points less compared to Orillia’s share in November 2020 YTD.
Essa
409 residential units were sold in Essa during October 2021 YTD. This was 10.5 per cent more than what was sold during the same timeframe last year (Jan. 1, 2020 to Nov. 30, 2020). The average price of residential units sold in November 2021 YTD was $813,999. This was 33.8 per cent greater than the average price during the same timeframe last year. During this time, Essa accounted for 4.4 per cent of sales in Simcoe County — 0.1 share points more than the same timeframe last year.
Year-over-year (November 2021 vs November 2020)
All residential homes
The Housing Price Index (HPI) showed a 36.8 per cent Year-over-year increase between November 2021 and November 2020.
Simcoe County
617 residential units were sold in Simcoe County last month — 13.2 per cent less than the same time last year. As well, the average price of residential units sold was $845,644, which was 30.0 per cent greater than that of November 2020.
City of Barrie
197 residential units were sold during November 2021 within Barrie. This was 16.9 per cent less than the number of units sold during November 2020. This decline was greater than that of total Simcoe County (-13.2 per cent).
The average price of residential Barrie units sold during November 2021 was $836.147 — 38.5 per cent greater than the average price of units sold during November 2020. This growth was greater than the average-price growth of total Simcoe County (+30.0 per cent). Sales in Barrie accounted for 31.9 per cent of residential sales in Simcoe County last month. This was 1.4 share points less than the same time last year.
City of Barrie – Apartments and condos
25 apartment and condo units were sold in Barrie during November 2021 — 21.9 per cent less than the number of units sold in November 2020. The average price of apartment and condo units in the City of Barrie during November 2021 was $559,692. This was 35.5 per cent more than the average price during the same time last year.
Simcoe County excluding Barrie
420 residential units were sold outside of Barrie during November 2021, and this was 11.4 per cent less than the number of units sold during November 2020. This decline was less than the 13.2 per cent decline in the total Simcoe region.
The average price of units sold in Simcoe County excluding Barrie last month was $850,099. This was a 26.1 per cent increase in the average price, Year-over-year. This growth was less than what was found in total Simcoe County (+30.0 per cent). Residential property sales outside of Barrie accounted for 68.1 per cent of sales in Simcoe County last month. This was 1.4 share points greater than the same time last year.
Innisfil
41 residential units were sold in Innisfil during November 2021, and this was 8.9 per cent less than the number of units sold during November 2020. This decline was less than the 13.2 per cent decline seen in the total Simcoe region. The average price of units sold in Innisfil last month was approximately $989,879. This was a 43.7 per cent increase in the average price, Year-over-year. This growth was greater than what was found in total Simcoe County (+30.0 per cent). Sales in Innisfil accounted for 6.6 per cent of sales in Simcoe County during November 2021. This was 0.3 share points more from Innisfil’s share of sales during the same time last year.
Orillia
47 residential units were sold in Orillia during November 2021, and this was 9.6 per cent less than the number of units sold during November 2020. This decline was less than the 13.2 per cent decline seen in the total Simcoe region. The average price of units sold in Orillia last month was approximately $691,428. This was a 33.6 per cent increase in the average price, Year-over-year. This growth was greater than what was found in total Simcoe County (+30.0 per cent). Orillia’s sales made up 7.6 per cent of sales in Simcoe County. This was 0.3 share points more than the same time last year.
Essa
31 residential units were sold in Essa during November 2021, and this was 22.5 per cent less than the number of units sold during November 2020. This decline was greater than the 13.2 per cent decline seen in the total Simcoe region. The average price of units sold in Essa last month was approximately $879,230. This was a 31.6 per cent increase in the average price, Year-over-year. This growth was greater than what was found in total Simcoe County (+30.0 per cent). Sales in Essa accounted for 5.0 per cent of sales in Simcoe County during November 2021. This was 0.6 share points less than Essa’s share of sales during the same time last year.
TORONTO – The Toronto Regional Real Estate Board says home sales in October surged as buyers continued moving off the sidelines amid lower interest rates.
The board said 6,658 homes changed hands last month in the Greater Toronto Area, up 44.4 per cent compared with 4,611 in the same month last year. Sales were up 14 per cent from September on a seasonally adjusted basis.
The average selling price was up 1.1 per cent compared with a year earlier at $1,135,215. The composite benchmark price, meant to represent the typical home, was down 3.3 per cent year-over-year.
“While we are still early in the Bank of Canada’s rate cutting cycle, it definitely does appear that an increasing number of buyers moved off the sidelines and back into the marketplace in October,” said TRREB president Jennifer Pearce in a news release.
“The positive affordability picture brought about by lower borrowing costs and relatively flat home prices prompted this improvement in market activity.”
The Bank of Canada has slashed its key interest rate four times since June, including a half-percentage point cut on Oct. 23. The rate now stands at 3.75 per cent, down from the high of five per cent that deterred many would-be buyers from the housing market.
New listings last month totalled 15,328, up 4.3 per cent from a year earlier.
In the City of Toronto, there were 2,509 sales last month, a 37.6 per cent jump from October 2023. Throughout the rest of the GTA, home sales rose 48.9 per cent to 4,149.
The sales uptick is encouraging, said Cameron Forbes, general manager and broker for Re/Max Realtron Realty Inc., who added the figures for October were stronger than he anticipated.
“I thought they’d be up for sure, but not necessarily that much,” said Forbes.
“Obviously, the 50 basis points was certainly a great move in the right direction. I just thought it would take more to get things going.”
He said it shows confidence in the market is returning faster than expected, especially among existing homeowners looking for a new property.
“The average consumer who’s employed and may have been able to get some increases in their wages over the last little bit to make up some ground with inflation, I think they’re confident, so they’re looking in the market.
“The conditions are nice because you’ve got a little more time, you’ve got more choice, you’ve got fewer other buyers to compete against.”
All property types saw more sales in October compared with a year ago throughout the GTA.
Townhouses led the surge with 56.8 per cent more sales, followed by detached homes at 46.6 per cent and semi-detached homes at 44 per cent. There were 33.4 per cent more condos that changed hands year-over-year.
“Market conditions did tighten in October, but there is still a lot of inventory and therefore choice for homebuyers,” said TRREB chief market analyst Jason Mercer.
“This choice will keep home price growth moderate over the next few months. However, as inventory is absorbed and home construction continues to lag population growth, selling price growth will accelerate, likely as we move through the spring of 2025.”
This report by The Canadian Press was first published Nov. 6, 2024.
HALIFAX – A village of tiny homes is set to open next month in a Halifax suburb, the latest project by the provincial government to address homelessness.
Located in Lower Sackville, N.S., the tiny home community will house up to 34 people when the first 26 units open Nov. 4.
Another 35 people are scheduled to move in when construction on another 29 units should be complete in December, under a partnership between the province, the Halifax Regional Municipality, United Way Halifax, The Shaw Group and Dexter Construction.
The province invested $9.4 million to build the village and will contribute $935,000 annually for operating costs.
Residents have been chosen from a list of people experiencing homelessness maintained by the Affordable Housing Association of Nova Scotia.
They will pay rent that is tied to their income for a unit that is fully furnished with a private bathroom, shower and a kitchen equipped with a cooktop, small fridge and microwave.
The Atlantic Community Shelters Society will also provide support to residents, ranging from counselling and mental health supports to employment and educational services.
This report by The Canadian Press was first published Oct. 24, 2024.
Housing affordability is a key issue in the provincial election campaign in British Columbia, particularly in major centres.
Here are some statistics about housing in B.C. from the Canada Mortgage and Housing Corporation’s 2024 Rental Market Report, issued in January, and the B.C. Real Estate Association’s August 2024 report.
Average residential home price in B.C.: $938,500
Average price in greater Vancouver (2024 year to date): $1,304,438
Average price in greater Victoria (2024 year to date): $979,103
Average price in the Okanagan (2024 year to date): $748,015
Average two-bedroom purpose-built rental in Vancouver: $2,181
Average two-bedroom purpose-built rental in Victoria: $1,839
Average two-bedroom purpose-built rental in Canada: $1,359
Rental vacancy rate in Vancouver: 0.9 per cent
How much more do new renters in Vancouver pay compared with renters who have occupied their home for at least a year: 27 per cent
This report by The Canadian Press was first published Oct. 17, 2024.
