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10 Sep

Monthly Market Update August 2020 vs. 2019

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Faris Team CEO and Broker, Mark Faris, says that buyers are in a tough spot with such low inventory this August, but some relief may come from new builds slated for the south end of Barrie, and low mortgage interest rates.


Barrie & Surrounding Area

Summer winds down with a consistent trend in sales and inventory, especially when we compare August 2020 to 2019: there were fewer than half the new listings available yet this market saw 65% more homes sold than this same time last year. There is a particular demand for, and low inventory of, homes listed between $500-$600K. Although buyers are having a tougher time, mortgage interest rates are as low as ever. The additional buying power that can result from a rate less than 2% may give those in the market the edge they need to secure the home of their dreams. As we report on August ten days into September, we can already comment that early fall is, and will continue to be, just as busy.

Compared to August 2019:

  • Home prices are up 26% from last year!
  • Average selling price is $661K, compared to $524K 
  • 65% more homes sold
  • 53% fewer new listings
  • Months of inventory is 1.0 compared to 4.0
  • Average days to sell is down significantly to 24, compared to 41
  • Average list-to-sale ratio is 100% compared to 98%


Collingwood, Midland & Surrounding Area

When we compare this August to last, the numbers continue to point to an increasingly active market as 2020 marches on. Home sales are up 33% from this time last year, yet there are 37% fewer listings for buyers to choose from. When a discrepancy like this takes place, months of inventory takes a dive; as we see this year it’s sitting at just 2.0 compared to 6.0 last August. Air B&B’s and recreational properties are in high demand from GTA buyers looking to scoop up a piece of prime real estate in this seasonal paradise.

Compared to August 2019:

  • Average sale price is up 25%
  • Average selling price is $555K, up from $444K 
  • 33% more homes sold
  • 37% fewer new listings
  • Months of inventory is 2.0 compared to 6.0
  • Average days to sell is 38, compared to 36
  • Average list-to-sale ratio is 99.2%, up from 97.8%


Orillia & Surrounding Area

The biggest jump we see when we look at August 2020 over August 2019 is the average sale price: up 45%! Even at this higher price point there were 33% more homes sold than this time last year, yet inventory continues to be low with 13% less homes on the market. A seller’s market insures fewer days on the market and a higher list-to-sell price ratio, which is on trend when we compare this month’s stats to 2019. Buyers are having a tough time with inventory, but there’s good news on the mortgage front: interest rates are at less than 2%! Low borrowing rates coupled with low inventory means summer is as hot as ever on the real estate front.

Compared to August 2019:

  • Average sale price is up 45%
  • Average selling price is $688K, compared to $485K
  • 33% more homes sold
  • 13% fewer new listings
  • Months of inventory is 2.0, down from 4.0
  • Average days to sell is down to 40 from 44
  • Average list-to-sale ratio is 99.2% compared to 97.8%


Want to know what this means for you as you consider buying or selling a home? We’re here to help.

Call us today at 1-888-444-9533, send us an email or schedule an in-person or Virtual Appointment.

There’s absolutely NO OBLIGATION. Consultations with our team of experts are FREE.


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While the information contained in this site has been presented with all due care, Faris Team assumes no responsibility or liability for any errors or omissions.

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