Simcoe & District Real Estate Board

The number of homes sold through the MLS® System of the Simcoe & District Real Estate Board totaled 79 units in December 2021. This increased by 2.6% (two sales) from December 2020 and was a new sales record for the month of December.

Home sales were 29.1% above the five-year average and 34.1% above the 10-year average for the month of December.

On an annual basis, home sales totaled a record 1,388 units over the course of 2021. This was a gain of 4.8% from the same period in 2020.

"2021 has been a remarkable year for our region. This past year has had 3 consistent story lines: seemingly endless demand, lack of supply, and record high prices," said Melissa Mummery, President of the Simcoe & District Real Estate Board. "It should come as no surprise that the market conditions we have been experiencing over the past year continued in December. Sales outstripped the number of newly listed properties for the first time since late 2020, driving overall inventory to the lowest level on record. Market balance remains heavily in favour of sellers, and as a result, both the average price and the MLS® HPI Benchmark Composite price inched up to the highest levels ever. As long as the current narrative persists, it is reasonable to expect current trends to continue into 2022."

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $577,000 in December 2021, an increase of 25.5% compared to December 2020.

The benchmark price for single-family homes was $577,600, a notable gain of 25.5% on a year-over-year basis in December. By comparison, the benchmark price for townhouse/row units was $566,500, advancing 31.9% compared to a year earlier.

The average price of homes sold in December 2021 was a record $666,209, up sharply by 36.2% from December 2020.

The more comprehensive annual average price rose 27% to $625,242, when compared to full-year 2020 numbers.

The dollar value of all home sales in December 2021 was $52.6 million, a jump of 39.7% from the same month in 2020. This was also a new record for the month of December.

The number of new listings decreased by 3.4% (two listings) from December 2020. There were 56 new residential listings in December 2021.

New listings were 6.5% above the five-year average and 5.4% below the 10-year average for the month of December.

Active residential listings numbered 57 units on the market at the end of December, a sharp decrease of 37.4% from the end of December 2020. Active listings haven't been this low in the month of December in more than three decades.

Active listings were 59.5% below the five-year average and 78.4% below the 10-year average for the month of December.

Months of inventory numbered 0.7 at the end of December 2021, down from the 1.2 months recorded at the end of December 2020 and below the long-run average of 4.8 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.