In our market update October 2024, Simcoe County saw substantial growth, with residential sales reaching 660—a 45.37% increase from October 2023 and a 17.44% rise from September 2024. The average home price edged up to $843,640, representing a modest 0.24% increase year-over-year, though it dipped 1.72% compared to the previous month. Inventory continues to be high across the region, however, we have seen a 6.17% drop in active listings since September of this year, which is inching us closer to a balanced market.
Bradford saw a considerable jump in sales, both year over year and month over month, at 103.70% and 150% respectively. Other markets that saw a noticeable jump in sales are Barrie, Innisfil and Oro-Medonte.
In terms of average pricing increase, Orillia found the largest jump with sales up 40% year over year and 5% month over month. Oro-Medonte saw a nearly 26% jump in average year over year pricing but was down nearly 10% month over month. Innisfil, Essa and Clearview felt a decline in average pricing both year over year and month over month.
The recent Bank of Canada rate changes have obviously spurred on the market and with the potential for another drop in December, we could see even more growth into the new year. If that is the case, we expect that January and February will be very busy months in the real estate market. If selling in the new year is on your radar, let’s chat now so that you can be ready to take advantage of the market changes – contact us!
Read all the stats below:
Disclaimer
The prices reflected in this media release are based on homes sold via the live Toronto MLS® System only. The Barrie & District Association of REALTORS® cautions that over a period of time the use of average price information can be useful in establishing trends, but it does not indicate actual prices in widely divergent areas or account for price differentials between geographical areas. The prices reflected in this media release are based on homes sold via the live TRREB MLS® system only.
Using a Local Professional REALTOR®
“REALTOR®” is a professional designation. A REALTOR® is a licensed real estate professional belonging to local, provincial and national associations. They have completed an intensive real estate program and have the skill set, expertise and experiences that you will need when buying or selling your home. Realtors® have a network of resources available at their fingertips. They understand financing and mortgage rules, insurance and liability coverage, and all the legal details involved in real estate. As a skilled negotiator, your local Realtor® will help you get the most value when buying or selling a home.
If you are thinking about listing, don’t miss our tips for getting your home listing ready! In this article, we share tips to ensure your home is putting it’s best foot forward so that you can get top dollar. Whether it’s enhancing your curb appeal or depersonalizing, there are some user-friendly ways to attract buyers.
If buying is in your future, make sure that you view our home buyers FAQ to get all your questions answered. We want to ensure that whether you are buying or selling, you are educated and ready to tackle the market!
As always, we are always here with honest answers to help you make the decision that is best for you!