Is it a good time for home buyers looking for a property in Barrie and Simcoe County?

September saw further adjustments of the local housing market.

According to the recent report by the Barrie and District Association of Realtors (BDAR), home sales and average price were down in Simcoe County last month.

There were 498 residential unit sales, which is 32.5% less than a year earlier. Meanwhile, the average price fell by 4.5% annually to $768,221.

Barrie showed 179 sales, marking a 22.2% drop on a year-over-year basis, while the average price fell by 5.8% from September 2021 to $735,064.

“Real estate sales in our region remain below average levels for this period. However, they were up slightly on a monthly basis compared to the weak activity we had during the summer,” – BDAR president Luc Woolsey noted.

“New listings are showing good results, which means that sellers have not left the market and keep selling their units. Due to lower demand seen over the previous several months, overall supply is going up from record lows. If this tendency goes on, homebuyers will again have enough choice.”

Last month, the inventory was up significantly across the county: there are 3.8 months of supply now, while it was only 0.8 a year ago. In addition to it, new listings hit 1,323 last month compared to 965 reported in September 2021.

Properties spend an average of 33 days on the market, showing an increase from 15 days seen a year ago.

Here are the numbers for September for other municipalities within the county:

Region	Number of sales	Annual change	Average price	Annual change
Collingwood	41	-32.8%	$772,163	-6.6%
Innisfil	35	-23.9%	$805,756	-10.2%
Midland	16	-52.9%	$566,769	-13.4%
Orillia	43	-8.5%	$590,788	-12.7%
Wasaga Beach	36	-37.9%	$759,250	-10.3%