House prices rise more than 40 per cent across Simcoe Muskoka in March

March was a hot month for house sales in Simcoe County.

According to data from the Matrix™ System for the Barrie and District Association of REALTORS® (BDAR), Simcoe County house prices rose more than 40 per cent as sales transactions more than doubled in March from the same time last year.

More than 1,300 residential units were sold in the region, a nearly 60 per cent increase from February, with an average sale price of $757,449.

Realtors put sold signs on the properties of 500 homes in Barrie, which was 45.8 per cent more than the month prior. The average selling price for a home in the city was around $714,654, while the average apartment or condo went for about $464,014.

The average home sold in Simcoe County, excluding Barrie, cost $783,385, nearly two per cent more than in February.

Orillia recorded a 37.7 per cent increase in the number of units sold last month. In March, the average price of homes sold in the Sunshine City was around $644,369, a four per cent jump.

Meanwhile, Innisfil saw house sales soar 61 per cent, with the average home going for around $851,881, which was slightly lower than listing prices in February.

The BDAR attributes substantial sales numbers to the "continued migration out of Toronto and the market downturn in March 2020."