LOCATIONS B R O K E R A G E
BARRIE REAL ESTATE MARKET REPORT
SECOND QUARTER 2021 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 SALES GRADUALLY SLOWING FROM MARCH’S HIGH, BUT STILL SETTING BIG VOLUME RECORDS
RECORD Q2 SALES VOLUME OF $747,643,641 Up 119% from Q2-2020’s $341,155,728, with units of 1012 up 60% from Q2-2020’s 631. New listings of 1311 up 38% from one year ago, with the sales/listings ratio of 77% up 10%.
RECORD JUNE SALES VOLUME OF $210,540,464 Up 16% from last June’s $181,484,344. with units of 282 down 13% from last year’s 326. New listings of 398 down 11% from a year ago, with the sales/listing ratio of 71% down 2%.
RECORD YEAR-TO-DATE AVERAGE SALE PRICE OF $723,113 Up 36% from last year’s $532,983. Average days-on-market of 10 down 15 days.
BARRIE MARKET REPORT: SECOND QUARTER 2021
www.locationsnorth.com
LOCATIONS B R O K E R A G E
OVERVIEW (cont’d) THE DEMAND FOR LISTINGS IS GREATER THAN THE SUPPLY The Barrie market had a high 102.1% sale/list price ratio in June. Homes sold in just 15 days on average, down 23 days from a year ago. There is currently one month of inventory. All that, together with June’s 71% sales/listings ratio, add up to a strong sellers’ market. Graph 1: Barrie MLS® Sales 2019 vs. 2020 vs. 2021 (Volume) $1,600,000,000
$1,440,440,694 $1,400,000,000 $1,200,000,000 $1,000,000,000 $800,000,000 $600,000,000
$660,898,770 $545,291,587
$400,000,000 $200,000,000 $0
2019
2020
2021
Graph 2: Barrie MLS® Sales 2019 vs. 2020 vs. 2021 (Units) 2,500
1,992
2,000
1,500
1,109
1,240
1,000
500
0
2019
BARRIE MARKET REPORT: SECOND QUARTER 2021
2020
2021
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 2019 vs. 2020 vs. 2021
2019
2020
2021
2020-2021
$545,291,587
$660,898,770
$1,440,440.694,
+118%
YTD Unit Sales
1109
1240
1992
+60%
YTD New Listings
2169
1891
2600
+37%
YTD Sales/Listings Ratio
51%
66%
77%
+11%
YTD Expired Listings
158
98
42
-57%
$349,502,466
$341,155,728
$747,643,641
+119%
701
631
1012
+60%
1329
947
1311
+38%
53%
67%
77%
+10%
73
64
20
-69%
$498,577
$540,659
$738,778
+37%
$112,070,524
$181,484,344
$210,540,464
+16%
June U nit Sales
229
326
282
-13%
June New Listings
423
448
398
-11%
June Sales/Listings Ratio
54%
73%
71%
-2%
35
26
6
-77%
$489,391
$556,700
$746,597
+34%
16
7
0
-700%
YTD Sales: $250K - $399K
236
165
64
-61%
YTD Sales: $400K - $549K
557
544
251
-54%
YTD Sales: $550K - $699K
239
413
607
+47%
YTD Sales: $700K - $849K
42
85
645
+659%
YTD Sales: $850K - $999K
9
17
298
+1653%
YTD Sales: $1M+
10
9
127
+1311%
YTD Average Days-On-Market
31
25
10
-60%
$491,697
$532,983
$723,113
+36%
Year-To-Date (YTD) Volume Sales
Second Quarter (Q2) Volume Sales Q2 U nit Sales Q2 New Listings Q2 Sales/Listings Ratio Q2 Expired Listings Q2 Average Price June Volume Sales
June Expired Listings June Average Price YTD Sales: Under $250K
YTD 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 July. 3, 2021.. While deemed to be reliable, Royal LePage Locations North assumes no responsibility for errors and omissions. BARRIE MARKET REPORT: SECOND QUARTER 2021
www.locationsnorth.com
LOCATIONS B R O K E R A G E
THE MARKET IN DETAIL (cont’d) As Graphs 3 and 4 show, although the Barrie market is gradually cooling from from March’s extraordinary high, Q2 still enjoyed huge record volume sales, as well as strong unit sales. On the volume side, Q2 saw three record months – that’s thirteen straight overall. The quarter’s $747,643,641 was up 119% from last year, and up 68% from 2016’s prior high. Additionally, Q2’s average price was up 37% from Q2-2020’s. On the units side, June sales dipped 13% from one year ago, and while Q2’s 1012 sales were up 60% from Q2-2020, they were down 7% from 2015’s benchmark 1094. All that said, Barrie’s year-to-date average sales price is doing very well. At $723,113 it’s up 82%, 41%, 50%, 47% and 36% from 2016 to 2020 respectively. Graph 3: Barrie Monthly MLS® Sales 2019 vs. 2020 vs. 2021 (Volume) $400,000,000
2019
$350,000,000
2020
$300,000,000
2021
$250,000,000 $200,000,000
$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 2019 vs. 2020 vs. 2021 (Units) 600
2019 2020
500
2021 400
300
200
100
0
Jan
BARRIE MARKET REPORT: SECOND QUARTER 2021
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, 2021 unit sales are up from 2020 in four price ranges and down in three. The $550K-$699K, $700K-$849K, $850-$999K and $1M+ ranges are up 47%, 659%, 1653% and 1311% respectively. The Under-$250K, $250K-$399K and $400K-$549K ranges are down 700%. 61% and 54% respectively. More generally, the Under-$400K bracket – which accounts for 3% of 2021’s sales – is down 63% from 2020. The $400K-$699K bracket – which accounts for 43% of all sales – is down 10%. And the $700K+ bracket – which accounts for 54% of all sales – is up 864%. Graph 5: Barrie MLS® Sales By Price 2019 vs. 2020 vs. 2021 (Units) 700
2019 645
600
2020
607 557
500
2021
544
400
413
2019 300
2020
298 251
236
200
2021
239
165 127
100
0
16
7
0
Under $250K
85
64 $250K-$399K
$400K-$549K
$550K-$699K
17
42
9
$700K-$849K
$850-$999K
BARRIE MARKET REPORT: SECOND QUARTER 2021
10
9 $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 2019 vs. 2020 vs. 2021 (Dollars and Units)
2021 $134,378,314
2021 IN DETAIL 2021
2021
$175,940,401
296
1,421 Single Family
Single Family
Townhouse
$64,298,700
2020
2020
Townhouse
159 166
$529,067,702
$56,983,889
Single Family
915 Single Family
Condominium
Condominium
2019
2019
Condominium
2020 Townhouse
CONDOMINIUMS $67,532,638
$64,298,700
DOLLAR SALES: $134,378,314 UP 109% from 2020 UNIT SALES: 275 UP 66% from 2020
Single Family
2019
$1,130,121,979
AV. SALE PRICE: $795,300 UP 38% from 2020
Condominium
$67,532,638
Townhouse
UP 114% from 2020
AV. DAYS-ON-MARKET: 8 DOWN 16 days from 2020
$1,130,121,979
2020
DOLLAR SALES : $1,130,121,979 $175,940,401 $134,378,314 UNIT SALES: 1421 UP 55% from 2020
275
Condominium
SINGLE-FAMILY HOMES 2021
Townhouse
$63,316,382
161
AV. DAYS-ON-MARKET: 18 $529,067,702 DOWN 20 days from 2020 AV. SALE PRICE: $488,648 Single Family UP 26% from 2020
2019
Condominium Townhouse
$63,316,382 TOWNHOUSES
$56,983,889
DOLLAR SALES: $175,940,401 UP 161% from 2020
157
UNIT SALES: 296 UP 86% from 2020 $424,991,316
791
Single Family
Single Family
Condominium
Condominium
Single Family Townhouse
Condominium
Townhouse Townhouse
BARRIE MARKET REPORT: SECOND QUARTER 2021
$424,991,316
AV. DAYS-ON-MARKET: 8 DOWN 10 days from 2020 Single Family
AV. SALE PRICE: $594,393 Condominium UP 40% from 2020 Townhouse www.locationsnorth.com
LOCATIONS B R O K E R A G E
BARRIE AVERAGE SALE PRICES: 2010-2021 BIG GAINS GENERALLY AND ALSO RELATIVE TO INFLATION Barrie’s average sale price for single-family homes in Q2-2021 was $795,300: that’s up 28%, 48%, 54%, 47% and 185% from 2020, 2019, 2018, 2017 and 2010 respectively. Q2-2021’s average condo price of $488,648 was up 19%, 31%, 34%, 42% and 128% from 2020, 2019, 2018, 2017 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 131% above in Q1-2021. The condo average sale price rose at roughly the inflation rate until 2015 before rising to 88% above inflation in Q2-2021.
$800,000 $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
Q2-2021
Single-Family Home Average Sale Price: 2010 > Q2-2021 Canada’s Inflation Rate Based On Barrie’s 2010 Single-Family Home Average Sale Price Condominium Average Sale Price: 2010 > Q2-2021 Canada’s Inflation Rate Based On Barrie’s 2010 Condominium Average Sale Price
BARRIE MARKET REPORT: SECOND QUARTER 2021
www.locationsnorth.com