The resale housing market in Barrie was subdued again last month, according to the Barrie and District Association of Realtors (BDAR), with homebuyers still facing challenges due to high mortgage rates.
“The Simcoe County real estate market is showing resilience despite the fluctuations observed in May,” said BDAR Chair, Lindsay Percy. “While we are seeing a decrease in sales compared to last year, the month-over-month growth is a positive indicator. The increase in active listings provides more options for buyers, and we anticipate a balanced market as we move forward."
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The average price in Barrie was up slightly from April to May to $781,377 but remained on par with a year ago. The average sale price for homes in Simcoe County was $842,615, a 3.2% decrease from May 2023 and a 1.93% decrease from April 2024.
New listings in the region totalled 2,283, a 7.38% decline compared to May 2023, but an 11.86% increase from April 2024.
These trends indicate a cautious adjustment in the real estate landscape, says BDAR, as buyers and sellers continue to navigate changing market conditions. The overall impact on home prices, coupled with the rising months of inventory, it says, suggests a nuanced environment for buyers and sellers alike.
