LOCATIONS B R O K E R A G E
BARRIE REAL ESTATE MARKET REPORT
FIRST QUARTER 2021 RECIPIENT OF ROYAL LEPAGE’S BROKERAGE OF THE YEAR AWARD FOR ONTARIO
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OVERVIEW MORE RECORD-SHATTERING SALES AND SALE PRICES
RECORD Q1 SALES VOLUME OF $698,920,054 Up 119% from Q1-2020’s $319,743,042, with record units of 988 up 62% from Q1-2020’s 609. New listings of 1295 up 37% from one year ago, with the sales/listings ratio of 76% up 11%.
RECORD MARCH SALES VOLUME OF $352,574,172 Up 163% from last March’s $134,194,565. Record March units of 494 up 98% from last year’s 249. New listings of 613 up 51% from a year ago, with the sales/listing ratio of 81% up 20%.
RECORD YEAR-TO-DATE AVERAGE SALE PRICE OF $707,409 Up 35% from last year’s $525,030. Average days-on-market of 9 down 15 days.
BARRIE MARKET REPORT: FIRST QUARTER 2021
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OVERVIEW (cont’d) THE DEMAND FOR LISTINGS IS GREATER THAN THE SUPPLY The Barrie market had a very high 109.7% sale/list price ratio in March. Homes sold in just 8 days on average, down 10 days from a year ago. And there is now less than one month of inventory. All that, and March’s 81% sales/listings ratio – which is high for the month – add up to a very strong sellers’ market. Graph 1: Barrie MLS® Sales 2019 vs. 2020 vs. 2021 (Volume) $800,000,000
$698,920,054
$700,000,000 $600,000,000 $500,000,000 $400,000,000
$319,743,042 $300,000,000 $200,000,000
$195,785,121
$100,000,000 $0
2019
2020
2021
Graph 2: Barrie MLS® Sales 2019 vs. 2020 vs. 2021 (Units) 1,200
988
1,000
800
609
600
400
408
200
0
2019
BARRIE MARKET REPORT: FIRST QUARTER 2021
2020
2021
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THE MARKET IN DETAIL Table 1: Barrie MLS® Residential Sales And Listing Summary 2019 vs. 2020 vs. 2021
2019
2020
2021
2020-2021
$195,785,121
$319,743,042
$698,920,054
+119%
Q1 Unit Sales
408
609
988
+62%
Q1 New Listings
840
944
1295
+37%
Q1 Sales/Listings Ratio
49%
65%
76%
+11%
Q1 Expired Listings
85
44
22
-50%
March Volume Sales
$97,506,758
$134,194,565
$352,574,172
+163%
March U nit Sales
198
249
494
+98%
March New Listings
366
405
613
+51%
March Sales/Listings Ratio
54%
61%
81%
+20%
21
10
4
-60%
$492,458
$538,934
$713,713
+32%
8
3
0
-300%
Q1 Sales: $250K - $399K
92
84
38
-55%
Q1 Sales: $400K - $549K
198
279
124
-56%
Q1 Sales: $550K - $699K
91
199
301
+51%
Q1 Sales: $700K - $849K
12
37
333
+800%
Q1 Sales: $850K - $999K
5
6
145
+2317%
Q1 Sales: $1M+
2
2
47
+2250%
32
24
9
-62%
$479,875
$525,030
$707,409
+35%
First Quarter (Q1) Sales
March Expired Listings March Average Sale Price Q1 Sales: Under $250K
Q1 Average Days-On-Market Q1 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 April. 3, 2021.. While deemed to be reliable, Royal LePage Locations North assumes no responsibility for errors and omissions.
BARRIE MARKET REPORT: FIRST QUARTER 2021
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THE MARKET IN DETAIL (cont’d) Just one look at Graphs 3 and 4 below tells the story of Barrie’s Q1 real estate market: unprecedented volume and unit sales. Following a record January, February – usually a slowish month – then broke Barrie’s all-time monthly volume record, up 8% from last July’s prior high. March then set another all-time record, up 48% from February, capping off 10 straight record months. On the units side, Q1 also completed 10 record months, with March’s 494 sales up 30% from last July’s previous benchmark 381. Not surprisingly, with all the demand, prices have shifted upward dramatically, with sales in the $550K+ bracket up a gynormous 239% from 2020. Overall, the average sale price of $707,409 is up 87%, 36%, 45%, 47% and 35% from Q1-2016 to Q1-2020 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: FIRST QUARTER 2021
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
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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 51%, 800%, 2317% and 2250% respectively. The Under-$250K, $250K-$399K and $400K-$549K ranges are down 300%. 55% and 56% respectively. More generally, the Under-$400K bracket – which accounts for 4% of 2021’s sales – is down 56% from 2020. The $400K-$699K bracket – which accounts for 43% of all sales – is down 11%. And the $700K+ bracket – which accounts for 53% of all sales – is up 1067%. Graph 5: Barrie MLS® Sales By Price 2019 vs. 2020 vs. 2021 (Units) 350
2019
333
300
2020
301
2021
279
250
200
199
198
2019
150
2020
145
2021
124
100 92
91
84
50
0
5
3
0
Under $250K
38 $250K-$399K
7 $400K-$549K
$550K-$699K
37
$700K-$849K
BARRIE MARKET REPORT: FIRST QUARTER 2021
47 1
6
$850-$999K
1
2 $1M+
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SALES BY PROPERTY TYPE Graph 6: Barrie MLS® Sales By Property Type 2019 vs. 2020 vs. 2021 (Dollars and Units)
2021 $59,743,573
2021 IN DETAIL 2021
2021
$94,911,176
161
AV. DAYS-ON-MARKET: 8 DOWN 14 days from 2020
$544,265,305
698 Single Family
Single Family
2020
Townhouse
$37,219,400
2020
2020
Townhouse
74 96
$20,333,521
Single Family
Condominium
2020 Townhouse
CONDOMINIUMS $30,886,520
$37,219,400
DOLLAR SALES: $59,743,573 UP 61% from 2020 UNIT SALES: 129 UP 34% from 2020
$251,637,122
439
Single Family
Single Family
Condominium
Condominium
2019
$544,265,305
AV. SALE PRICE: $779,750 UP 36% from 2020
Condominium
$30,886,520
Townhouse
DOLLAR SALES : $544,265,305 $94,911,176 UP 116% from 2020
$59,743,573
UNIT SALES: 698 UP 59% from 2020
129
Condominium
SINGLE-FAMILY HOMES 2021
2019
2019
Townhouse
$21,822,120
59
AV. DAYS-ON-MARKET: 21 $251,637,122 DOWN 20 days from 2020 AV. SALE PRICE: $463,128 Single Family UP 19% from 2020
2019
Condominium Townhouse
$21,822,120 TOWNHOUSES
$20,333,521
DOLLAR SALES: $94,911,176 UP 207% from 2020
57
UNIT SALES: 161 UP 118% from 2020 $153,476,496
292
Single Family
Single Family
Condominium
Condominium
Single Family Townhouse
Condominium
Townhouse Townhouse
BARRIE MARKET REPORT: FIRST QUARTER 2021
$153,476,496
AV. DAYS-ON-MARKET: 7 DOWN 9 days from 2020 Single Family
AV. SALE PRICE: $589,510 Condominium UP 41% from 2020 Townhouse www.locationsnorth.com
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BARRIE AVERAGE SALE PRICES: 2010-2021 BIG GAINS GENERALLY AND ALSO RELATIVE TO INFLATION Barrie’s average sale price for single-family homes in Q1-2020 was $779,750: that’s up 36%, 48%, 46%, 37% and 185% from 2020, 2019, 2018, 2017 and 2010 respectively. Q1-2021’s average condo price of $463,128 was up 13%, 24%, 27%, 35% and 116% 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 80% above inflation in Q1-2021.
$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
Q1-2021
Single-Family Home Average Sale Price: 2010 > Q1-2021 Canada’s Inflation Rate Based On Barrie’s 2010 Single-Family Home Average Sale Price Condominium Average Sale Price: 2010 > Q1-2021 Canada’s Inflation Rate Based On Barrie’s 2010 Condominium Average Sale Price
BARRIE MARKET REPORT: FIRST QUARTER 2021
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