LOCATIONS B R O K E R A G E
BARRIE REAL ESTATE MARKET REPORT
2020 IN REVIEW RECIPIENT OF ROYAL LEPAGE’S BROKERAGE OF THE YEAR AWARD FOR ONTARIO
www.locationsnorth.com
LOCATIONS B R O K E R A G E
OVERVIEW HUGE RECORD SALES WITH AVERAGE SALE PRICES UP, LISTINGS DOWN
RECORD ANNUAL SALES VOLUME OF $1,707,534,706 Up 48% from 2019’s $1,155,964,407, with units of 3003 up 28% from 2019’s 2339. New listings of 3805 down 5% from 2019, with the sales/listings ratio of 79% up 20%.
RECORD Q4 SALES VOLUME OF $453,629,197 Up 59% from Q4-2019’s $285,707,547. Units of 736 up 28% from Q4-2019’s 575, with new listings of 721 up 5% and the sales/listings ratio of 102% up 18%.
RECORD ANNUAL AVERAGE SALE PRICE OF $568,610 Up 15% from last year’s $492,738. Average days-on-market of 22 down 10 days.
BARRIE MARKET REPORT: 2020 IN REVIEW
www.locationsnorth.com
LOCATIONS B R O K E R A G E
OVERVIEW (cont’d) THE DEMAND FOR LISTINGS IS MUCH GREATER THAN THE SUPPLY December’s volume was up 87% from 2019’s record, while its 179 units were up 15% from 2015’s benchmark 156. The month had a high 100.8% sale/list price ratio; homes sold 12 days faster on average than December 2019; and there is now less than one month of inventory. All that, and December’s 126% sales/listings ratio, add up to a strong sellers’ market. Graph 1: Barrie MLS® Sales 2018 vs. 2019 vs. 2020 (Volume) $1,800,000,000
$1,707,534,706
$1,600,000,000 $1,400,000,000
$1,155,964,407
$1,200,000,000 $1,000,000,000
$1,003,247,342
$800,000,000 $600,000,000 $400,000,000 $200,000,000 $0
2018
2019
2020
Graph 2: Barrie MLS® Sales 2018 vs. 2019 vs. 2020 (Units) 3,500
3,003
3,000
2,500
2,339 2,110
2,000
1,500
1,000
500
0
2018
BARRIE MARKET REPORT: 2020 IN REVIEW
2019
2020
www.locationsnorth.com
LOCATIONS B R O K E R A G E
THE MARKET IN DETAIL Table 1: Barrie MLS® Residential Sales And Listing Summary 2018 vs. 2019 vs. 2020
2018
2019
2020
2019-2020
$1,003,247,342
$1,155,964,407
$1,707,534,706
+48%
Annual Unit Sales
2110
2339
3003
+28%
Annual New Listings
4368
3989
3805
-5%
48%
59%
79%
+20%
$220,097,732
$285,707,547
$453,629,197
+59%
Q4 U nit Sales
470
575
736
+28%
Q4 New Listings
727
687
721
+5%
Q4 Sales/Listings Ratio
65%
84%
102%
+18%
$468,293
$496,883
$616,344
+24%
$48,865,486
$63,247,778
$118,440,200
+87%
December U nit Sales
104
125
179
+43%
December New Listings
115
105
142
+35%
December Sales/Listings Ratio
90%
119%
126%
+7%
$469,860
$532,630
$661,677
+24%
46
29
14
-52%
Annual Sales: $250K - $399K
543
513
342
-33%
Annual Sales: $400K - $549K
1039
1156
1102
-5%
Annual Sales: $550K - $699K
370
517
1070
+107%
Annual Sales: $700K - $849K
81
89
344
+287%
Annual Sales: $850K - $999K
16
21
92
+338%
Annual Sales: $1M+
15
21
39
+86%
Annual Average Days-On-Market
34
32
22
-31%
$475,473
$492,738
$568,610
+15%
Annual Volume Sales
Annual Sales/Listings Ratio Fourth Quarter (Q4) Volume Sales
Q4 Average Sale Price December Volume Sales
December Average Sale Price Annual Sales: Under $250K
Annual 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 Jan.. 3, 2021.. While deemed to be reliable, Royal LePage Locations North assumes no responsibility for errors and omissions.
BARRIE MARKET REPORT: 2020 IN REVIEW
www.locationsnorth.com
LOCATIONS B R O K E R A G E
THE MARKET IN DETAIL (cont’d) Barrie enjoyed a stratospheric year in 2020, with its highest volume ever due to ten big record months that generated 91% of the year’s sales. Barrie’s overall total of $1,707,534,706 was up 24% from 2016’s previous high, on 4% fewer listings. On the units side, Barrie’s 3003 sales were the third best ever, down 10% from 2016’s benchmark 3333. And to think that so much of this super-sales activity has occured virtually in a global pandemic. You couldn’t make this stuff up – no one would believe it. Homeowners will be happy to know that 2020’s average sale price of $568,610 was up 64%, 37%, 15%, 20% and 15% from 2015-19 respectively.
Graph 3: Barrie Monthly MLS® Sales 2018 vs. 2019 vs. 2020 (Volume) $250,000,000
2018 2019
$200,000,000
2020
$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 2018 vs. 2019 vs. 2020 (Units) 450
2018
400
2019
350
2020
300 250 200 150 100 50
0
BARRIE MARKET REPORT: 2020 IN REVIEW
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
www.locationsnorth.com
LOCATIONS B R O K E R A G E
THE MARKET IN DETAIL (cont’d) As Graph 5 shows, 2020 unit sales were up from 2019 in four price ranges and down in three. The $550K-$699K, $700K-$849K, $850-$999K and $1M+ ranges were up 107%, 287%, 338% and 86% respectively. The Under-$250K, $250K-$399K and $400K-$549K ranges were down 52%. 33% and 5% respectively. More generally, the Under-$400K bracket – which accounted for 12% of 2020’s sales – was down 34% from 2019.. The $400K-$699K bracket – which accounted for 72% of all sales – was up 30%. And the $700K+ bracket – which accounted for 16% of all sales – was up 263%. Graph 5: Barrie MLS® Sales By Price 2018 vs. 2019 vs. 2020 (Units) 1400
2018 2019
1200 1156
1000
1039
2020
1102
1070
800
2018 2019
600 543
400
2020
517
513 370
342
344
200 46
0
29
92 14
Under $250K
81 $250K-$399K
$400K-$549K
$550K-$699K
BARRIE MARKET REPORT: 2020 IN REVIEW
89
$700K-$849K
16
21
$850-$999K
15
21
39
$1M+
www.locationsnorth.com
LOCATIONS B R O K E R A G E
SALES BY PROPERTY TYPE Graph 6: Barrie MLS® Sales By Property Type 2018 vs. 2019 vs. 2020 (Dollars and Units)
2020 $172,606,779
2020 IN DETAIL 2020
2020
$183,694,922
401
$1,351,233,005
2,180 Single Family
Single Family
2019
Townhouse
$126,933,421
2019
2019
Townhouse
345 341
$894,556,886
$101,365,566
$1,351,233,005
AV. SALE PRICE: $619,832 UP 15% from 2019 Single Family
1,660 Single Family
Condominium
Condominium
2018
2018
Condominium
2019 Townhouse
CONDOMINIUMS $134,474,100
$126,933,421
DOLLAR SALES: $172,606,779 UP 36% from 2019 UNIT SALES: 422 UP 24% from 2019
Single Family
2018
AV. DAYS-ON-MARKET: 20 DOWN 11 days from 2019
Condominium
$134,474,100
Townhouse
DOLLAR SALES : $1,351,233,005 $183,694,922 UP 51% from 2019
$172,606,779
UNIT SALES: 2180 UP 31% from 2019
422
Condominium
SINGLE-FAMILY HOMES 2020
Townhouse
$121,815,994
324
AV. DAYS-ON-MARKET: 34 $894,556,886 DOWN 8 days from 2019 AV. SALE PRICE: $409,021 Single Family UP 10% from 2019
2018
Condominium Townhouse
$121,815,994 TOWNHOUSES
$101,365,566
DOLLAR SALES: $183,694,922 UP 37% from 2019
279
UNIT SALES: 401 UP 16% from 2019 $780,065,783
1,507
Single Family
Single Family
Condominium
Condominium
Single Family Townhouse
Condominium
BARRIE MARKET REPORT: 2020 IN REVIEW
Townhouse Townhouse
$780,065,783
AV. DAYS-ON-MARKET: 17 DOWN 15 days from 2019 Single Family
AV. SALE PRICE: $458,092 Condominium UP 18% from 2019 Townhouse www.locationsnorth.com
LOCATIONS B R O K E R A G E
BARRIE AVERAGE SALE PRICES: 2010-2020 BIG GAINS GENERALLY AND ALSO RELATIVE TO INFLATION Barrie’s average sale price for single-family homes in 2020 was $619,832: that’s up 15%, 20%, 15%, 39% and 122% from 2019, 2018, 2017, 2016 and 2010 respectively. 2020’s average condo price of $409,021 was up 10%, 13%, 19%, 46% and 91% from 2019, 2018, 2017, 2016 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 90% above in 2020. The condo average sale price rose at roughly the inflation rate until 2015 before rising to 90% above inflation in 2020.
$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
Single-Family Home Average Sale Price: 2010 > 2020 Canada’s Inflation Rate Based On Barrie’s 2010 Single-Family Home Average Sale Price Condominium Average Sale Price: 2010 > 2020 Canada’s Inflation Rate Based On Barrie’s 2010 Condominium Average Sale Price
BARRIE MARKET REPORT: 2020 IN REVIEW
www.locationsnorth.com
LOCATIONS B R O K E R A G E
PERSONAL PROFESSIONAL PROGRESSIVE REAL ESTATE SERVICE
At Locations North we do everything we can to put you first. And that includes completely respecting your privacy. If we can ever be of help with your real estate needs, please give us a call or visit our website at www.locationsnorth.com
BARRIE MARKET REPORT: 2020 IN REVIEW
COLLINGWOOD 705-445-5520
THORNBURY 519-599-2136
330 First St.
27 Arthur St.
CREEMORE 705-881-9005
CRAIGLEITH 705-445-7799
154 Mill St.
209820 Hwy. 26 West.
MEAFORD 519-538-5755
WASAGA BEACH 705-429-4800
96 Sykes St.
1249 Mosley St.
STAYNER 705-428-2800
WASAGA BEACH 705-617-9969
7458 ON-26, #11.
1344 Mosley St. Unit 5.
www.locationsnorth.com