Barrie & District Association of REALTORS® Inc.

The Barrie & District Association of REALTORS® (BDAR) reports a varied performance in Simcoe County’s real estate market for August 2024, reflecting both year-over-year growth and month-over-month moderation as market conditions continue to adjust.

Simcoe County home sales in August 2024 were down by 2.93% year-over-year, with 564 homes sold, a slight decrease from the 581 sales in August 2023. Month-over-month, sales also showed a decline, falling by 6.31% compared to July 2024. Despite these declines, the average sale price rose by 1.15% year-over-year to $837,825, though it dropped by 1.84% from July 2024.

New listings in August 2024 reached 1,685, up by 5.38% year-over-year, but decreased by 10.61% month-over-month. Active listings also saw significant growth, increasing by 35.25% year-over-year to 3,461, indicating a well-stocked market. The months of inventory for August 2024 increased by 39.32% year-over-year, reaching 6.14 months, suggesting a shift toward more balanced market conditions.

BDAR Chair Lindsay Percy remarked, “The August statistics reflect a market that is balancing itself after a period of heightened activity. With active listings growing and inventory levels rising, buyers are benefiting from more choices, while sellers are still experiencing stable demand. This equilibrium is helping to create favorable conditions for both sides of the market.”

As BDAR continues to track market changes, its commitment to providing accurate, timely insights remains strong, helping buyers and sellers navigate the evolving Simcoe County real estate landscape.