Mid-March was when Ontario, along with much of the rest of the country, dramatically changed how we went about our lives. Amid the evolving Covid-19 pandemic, businesses slowed, closed or changed business practices to protect workers and the public. The real estate industry was no different, and the sales statistics over the past month reflect this.

“The world changed drastically in March, and the real estate industry shifted with it,” says Robin Jones, 2020 Barrie and District association of REALTORS® (BDAR) President. “Realtors® had to change their basic business models to ensure proper safety among a global pandemic. Virtual showings have started to become the norm in an industry that thrives on face-to-face interactions, and with the economic uncertainty, you can see in the stats from the past month just how quickly things changed.”

“The overall impact in March was a slight 6% decline in new listings but a stable 4% increase in total sales and 5% increase in sales price this month, compared to the same period in the year 2019.”

As we moved into April sales activity showed a sharp decrease in listings and total sales, however average sales price have actually increased slightly in the last two weeks.

Looking at the market activity in the Greater Simcoe Region shows listings and closed sales are down considerably from 2019 levels, but average sale price is trending slowly upwards at a 6% increase.

This residential property sales update was based on the sales recorded through the Barrie and District Association of REALTORS.

As always these trends impact each neighbourhood and home, if you would like to know more about your individual situation please don’t hesitate to reach out and ask!