Average price of Barrie homes sold in January was $691,307

The Housing Price Index (HPI) also showed 27.6 per cent year-over-year increase between January 2020 and January 2021

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NEWS RELEASE
BARRIE AND DISTRICT ASSOCIATION OF REALTORS
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Month-Over-Month (January 2021 vs December 2020)
Residential Homes

Simcoe County
466 residential units were sold in Simcoe County last month—a 6.6 per cent decrease from December 2020. During the same time a year ago (December 2019 to January 2020), there was a 7.5 per cent increase in the number of units sold.

The average price of residential units sold last month was $733,309—a 9.2 per cent increase from December 2020. This increase contrasted the month-over-month change in average price a year ago which decreased 1.7 per cent from December to January.

City of Barrie
160 units were sold last month within the City of Barrie, which was 10.1 per cent less than the number of units sold the month prior. A year ago, the number of units sold between January and December increased 4.0 per cent. The average price of units sold within Barrie during January 2021 was $691,307. This was 6.0 per cent greater than the average price during December 2020. In comparison, the average price of units sold between January 2020 and December 2019 increased 0.4 per cent.

City of Barrie – Apartments & Condos
31 apartment and condo units were sold in Barrie last month—6.9 per cent more than the number of units sold in December 2020. The average price of apartment and condo units sold in the City of Barrie this month was $458,142—7.3 per cent more than the average price in December 2020.

Simcoe County Excluding Barrie
In Simcoe County Excluding Barrie last month, 306 units were sold. This was 4.7 per cent less than the number of units sold during December 2020. At the same time a year ago, there was a 9.4 per cent increase in the number of units sold outside of Barrie.

The average price of units sold in the areas outside of Barrie last month was $755,271. This was 10.7 per cent more than the month before. Between January 2020 and December 2019, the average price of units sold outside of Barrie decreased 2.8 per cent. 

Innisfil
38 residential units were sold in Innisfil last month—a 19.1 per cent decrease from December 2020. During the same period a year ago (December 2019 to January 2020), there was a 19.2 per cent decrease in the number of units sold. The average price of residential units sold in Innisfil last month was approximately $779,650—a 15.7 per cent increase from December 2020. This was a lesser growth than last year, when the average price increased 15.2 per cent from December to January.

Orillia
40 residential units were sold in Orillia last month—a 5.3 per cent increase from December 2020. During the same period a year ago (December 2019 to January 2020), there was a 12.9 per cent increase in the number of units sold. The average price of residential units sold in Orillia last month was approximately $542,577—a 8.4 per cent increase from December 2020. In contrast, the average price a year ago decreased 1.3 per cent from December to January.

Essa
In Essa last month, 22 residential units were sold. This was 4.8 per cent more than last month. During the same period a year ago, there was a 25 per cent increase in the number of units sold. The average price of residential units sold in Essa last month was $749,512 – a 3.7 per cent increase from December 2020. This time last year, the average price increased 20.5 per cent from December 2019 to January 2020.

Year-Over-Year (January 2021 vs January 2020)
All Residential Homes

The Housing Price Index (HPI) showed a 27.6 per cent year-over-year increase between January 2021 and January 2020.

Simcoe County
466 residential units were sold in Simcoe County last month—21.0 per cent greater than the same time last year. As well, the average price of residential units sold was $733,309, which was 44.3 per cent greater than that of January 2020.

City of Barrie
160 residential units were sold during January 2021 within Barrie. This was 23.1 per cent more than the number of units sold during January 2020. This growth was the same as that of total Simcoe County (+21.0 per cent).

The average price of residential Barrie units sold during January 2021 was $691,307 — 36.1 per cent greater than the average price of units sold during January 2020. This growth was less than the average-price growth of total Simcoe County (+44.3 per cent). Sales in Barrie accounted for 34.3 per cent of residential sales in Simcoe County last month. This was 0.6 share points more than the same time last year.

City of Barrie – Apartments & Condos
31 apartment and condo units were sold in Barrie during January 2021 — 40.9 per cent greater than the number of units sold in January 2020. The average price of apartment and condo units in the City of Barrie in January 2021 was $458,142. This was 17.3 per cent more than the average price during the same time last year.

Simcoe County Excluding Barrie
306 residential units were sold outside of Barrie during January 2021, and this was 20.0 per cent more than the number of units sold during January 2020. This growth was slightly less than the 21.0 per cent growth seen in the total Simcoe region.

The average price of units sold in Simcoe County Excluding Barrie last month was $755,271. This was a 48.6 per cent increase in the average price, year-over-year. This growth was greater than what was found in total Simcoe County (+44.3 per cent). Residential property sales outside of Barrie accounted for 65.7 per cent of sales in Simcoe County last month. This was 0.6 share points less than the same time last year.

Innisfil
38 residential units were sold in Innisfil during January 2021, and this was 81.0 per cent more than the number of units sold during January 2020. This growth was significantly greater than the 21.0 per cent growth seen in the total Simcoe region. The average price of units sold in Innisfil last month was approximately $779,650. This was a 21.3 per cent increase in the average price, year-over-year. This growth was less than what was found in total Simcoe County (+44.3 per cent). Sales in Innisfil accounted for 8.2 per cent of sales in Simcoe County during January 2021. This was 2.7 share points more than Innisfil’s share of sales during the same time last year.

Orillia
40 residential units were sold in Orillia during January 2021, and this was 14.3 per cent greater than the number of units sold during January 2020. This growth was less than the 21.0 per cent growth seen in the total Simcoe region. The average price of units sold in Orillia last month was approximately $542,577. This was a 43.8 per cent increase in the average price, year-over-year. This growth was less than what was found in total Simcoe County (+44.3 per cent). Orillia’s sales made up 8.6 per cent of sales in Simcoe County. This was 0.5 share points less than the same time last year.

Essa
22 residential units were sold in Essa during January 2021, and this was 46.7 per cent more than the number of units sold during January 2020. This growth was significantly greater than the 21.0 per cent growth seen in the total Simcoe region. The average price of units sold in Essa last month was approximately $749,512. This was a 29.4 per cent increase in the average price, year-over-year. This growth was less than what was found in total Simcoe County (+44.3 per cent). Sales in Essa accounted for 4.7 per cent of sales in Simcoe County during January 2021. This was 0.8 share points more than Essa’s share of sales during the same time last year.

Home Builders’ Association Supports Ontario Government’s Direction on Re-Opening the Economy

Monday, February 8, 2021 – The Simcoe County Home Builders’ and the Ontario Home Builders’ Association (OHBA) applaud the Ontario government’s decision to remove the construction permitting restrictions and the prohibition on starting new renovations that were part of the emergency orders that came into effect on January 13. The changes announced today, which will take effect on Feb. 10 at 12:01 a.m., mean that as the province transitions back to the COVID-19 Response Framework: Keeping Ontario Safe and Open, all residential construction, including renovations, and related support activities may resume on February 10 with strict COVID-19 measures in place.

This will enable the industry to meet the housing, commercial and renovation needs in the Simcoe County Region, while continuing to protect workers’ health and well-being.

“The health and well-being of workers and residents continues to be our top priority said Sandy Tuckey, Executive Officer SCHBA. Our members look forward to ensuring a healthy supply of new and renovated homes allowing workers to provide for their families and making our contribution the economy under strict health and safety protocols.”

Health and safety are always priorities on construction work sites. During COVID-19, the industry has adopted very strict enhanced measures that meet or exceed the requirements outlined by the provincial government. Construction continues to be a low-risk activity compared to other sectors.

“Our industry continues to implement the Ministry of Labour’s guidelines on construction site health and safety during COVID-19,” said Joe Vaccaro, OHBA CEO. “Keeping colleagues, employees, and homeowners safe needs to continue to be the priority, and that includes Ministry of Labour inspections and, if necessary, closing any site that doesn’t meet or exceed these requirements. We need to keep each other safe as we continue deliver keys to homeowners.”

 The Simcoe County Home Builders’ Association (SCHBA) represents builders, developers, renovators, sub-contractors, suppliers and building industry professionals in Simcoe County.  Simcoe County is the region immediately north of the Greater Golden Horseshoe which is home to 450,000 people and has an employment base of 230,000.  The County is comprised of 18 Municipal jurisdictions.

The Ontario Home Builders’ Association is the voice of the residential construction industry in Ontario, representing 4,000-member companies organized into 27 local associations across the province. The residential construction industry contributes over $51 billion dollars to Ontario’s economy, employing more than 330,000 people across the province.

Residential construction thrives during pandemic with new starts eclipsing 2019 totals

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By John Devine

Special to Ontario Construction Report

When COVID-19 first appeared on the scene last winter, it resulted in a lockdown that lasted through the spring and into the summer, with numerous businesses and sectors deemed non-essential required to close their doors.

The construction industry was excluded from the list of sectors deemed non-essential, and proceeded to have a pretty good year in terms of housing construction, resales, and renovations.

According to data from the Ontario Home Builders’ Association (OHBA), the number of new starts from January to December last year totalled 78,916. December numbers aren’t available yet from the Canada Mortgage Housing Corporation (CMHC), but even without them it’s still an increase from the 67,864 starts for all of 2019.

The dawn of 2020 arrived with high expectations for Ontario builders, with the economy booming and a provincial government committed to cutting red tape, says Joe Vaccaro, CEO of the OHBA. Queen’s Park had signalled that a million new homes would be needed in the coming decade, and builders were rising to the challenge.

“Across Ontario, members were launching new communities, providing new housing supply and choice. But we all know what happened on March 17. Ontario declared a State of Emergency in response to the pandemic and shifted resources to respond,” says Vaccaro.

“But the association didn’t stop working, didn’t stop advocating, didn’t stop communicating with our members. We stepped up.”

By May 19, all construction in the province was allowed to proceed. The association, he continues, developed a plan that gave the government the confidence that residential construction could proceed safely during the pandemic. And proceed it did.

“Respecting the necessary rules, OHBA went to work, establishing the health and safety protocols needed to keep job sites open and members working so that they could deliver keys to the thousands waiting to be homeowners,” says Vaccaro.

Stats from the Municipal Property Assessment Corporation (MPAC), which assesses new homes once they have been completed and occupied, also shows an increase in 2020 from the previous year.

In 2019, MPAC assessed a total of 51,829 new residential units, with a value of $27,793,391,026; 2020 saw 52,445 homes assessed, valued at $28,370,327,727.

The resale of housing also recorded a banner year in 2020, with the Canadian Real Estate Association (CREA) saying sales across the country were up 47.2 per cent in December, compared to the same time the previous year, largely driven by increases of more than 20 per cent in the Greater Toronto Area (GTA) and the Vancouver region.

The average home price jumped 17 per cent to just more than $607,000, an increase of 17.1 per cent from December 2019. The number of sales in Canadian housing markets increased for six continuous months through to December, with that month witnessing the biggest annual spike in monthly sales seen in 11 years.

Sales across the GTA were up 24.3 per cent across the GTA compared to the same timeframe in 2019, according to the Toronto Real Estate Board.

“It’s official, despite all the challenges, 2020 was a record year for Canadian resale housing activity,” stated CRA chair Costa Poulopoulos.“While momentum continues into 2021, surging COVID cases and a return to April-like lockdowns in some provinces means we’ll be revisiting some of those virtual technology solutions to process deals in the first few months of the year. Hopefully we’ll have the current wave more under control by the time the spring market rolls around, which is shaping up to be a very active one.”

All those resales likely drove renovations in 2020, which saw an increase from the previous year, according to the MPAC. It all added up to a busy year for builders and renovators. The corporation recorded 32,806 permits for renovation work in 2020, totalling $3,630,673,414, compared with 28,406 in 2019, and a total value of $2,610,916,044.

The average permit value of closed permits in 2019 came in at $91,914.25, and in 2020 at $110,671.02. Alterations and renovations of homes led the way, followed by: additions, garages, shed, porch covers, decks, and swimming pools.

“With people spending more time at home this year, we saw an increase in building permits as people invested in making improvements to their homes,” said Carmelo Lipsi, MPAC’s vice-president and Chief Operating Officer.

“We reported over 50 per cent increase in the total assessed value of renovation permits in 2020 compared to 2019, with over 19,529 permits completed, an increase of over 30 per cent compared to the previous year.”

When reviewing the year, an analysis may say it didn’t live up to pre-pandemic expectations, but it ended better than it might have.