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11 Jun

Monthly Market Update – May 2020/2019

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Here is Mark Faris, Faris Team CEO and Broker, with the latest market performance stats for Barrie and the surrounding area, Orillia and surrounding area, and Collingwood, Midland and area.


Greater Barrie Area

After last week’s great news that the market is back to pre-pandemic levels, we’re once again seeing the strength of this rebound when we compare May 2020 numbers to 2019. Although it’s no surprise that most comparisons are down, average home prices are up, and days on market is steady as is the list-to-sell ratio. As with last May, it’s a seller’s market in the Greater Barrie Area, even more-so this year with just two months of inventory. Months of inventory indicates how long it would take to sell every home currently on the market, so not long this spring. Inventory numbers are thankfully growing as we’re seeing more and more buyer activity. Buyers from the GTA are especially showing interest in Simcoe County, as culturally more and more businesses are giving staff options to work from home.

Compared to May 2019:

  • Average selling price is up 10% to $582K
  • 12% fewer homes sold
  • 39% fewer new listings
  • Months of inventory is 2, down from 3
  • Average days to sell is steady at 36, compared to 35
  • Average list-to-sale ratio is 98.4% compared to 98.1%

Southern Georgian Bay

Home sales are up again this week, and up compared to this time last year, reiterating a growing confidence in this market. Months of inventory is sitting at 6, which indicates an even market, putting either buyer or seller in the driver’s seat. Months of inventory indicates how long it would take to sell every home currently on the market, and this area continues to garner attention from those who dream of living north of the GTA. As we’re seeing more and more buyers emerge from this area, Southern Georgian Bay is well positioned to take full advantage of this urban-to-outskirts trend.

Compared to May 2019:

  • Average selling price is $554K, up from $507K
  • 33% fewer homes sold
  • 35% fewer new listings
  • Months of inventory is 6, up from 5
  • Average days to sell is 52 compared to 43
  • Average list-to-sale ratio is 97.6%, down from 98.4%

Orillia & Surrounding Area

Last week we reported that sales in this area are back to pre-pandemic levels and this market continues to demonstrate a quick rebound. We’re sitting in an even market, with 4 months of inventory, compared to 5 last year. Months of inventory indicates how long it would take to sell every home currently on the market, so interested buyers should move quickly when they find a property they love. More and more activity is coming from those in the GTA who no longer want to pay high rents and mortgages, when they can live just an hour to 90 minutes north. As companies across Canada shift to more flexible work arrangements, Orillia and area is well suited to reap the benefits of this growing trend.

Compared to May 2019:

  • Average selling price is $489K, down from $508K
  • 17% fewer homes sold
  • 38% fewer new listings
  • Months of inventory is 4, down from 5
  • Average days to sell is steady at 35, compared to 36
  • Average list-to-sale ratio is steady at 97.9%, compared to 97.7%

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 a Virtual Appointment.

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


 online real estate services, virtual real estate, covid-19

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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