Sales in Simcoe County recovered from last week's low, but the supply side kept moving faster. New listings reached 600, active inventory rose again, and months of supply climbed to 8.9, the highest level of the past six weeks. The average sale price pulled back after three weeks of increases. Buyers hold a stronger position than they did in August.
From September 14 to 20, 147 homes sold across the county, a solid improvement on the previous week. The average sale price came in at $711,967, down from where it sat a week earlier.
New supply continued to build. There were 600 new listings, another increase, and active inventory rose to 5,407 properties. The sales-to-new-listing ratio sat at 25%, so four homes arrived on the market for every one that sold.
This is now the third consecutive week of heavier listing volume, and the biggest week yet. The fall market has clearly opened.
What stands out is the gap between the two sides. Sales improved this week, but not nearly enough to absorb 600 new properties. Every week that pattern repeats, the pool of available homes grows, and it has been repeating since the start of September.
Months of inventory rose to 8.9. To put that in perspective, the market sat in the high sevens at the end of August, so supply has increased meaningfully in under a month.
Average days on market moved to 57, up from the mid-forties. Homes are taking roughly a week and a half longer to sell than they were at the start of the month. That is the clearest sign yet that the extra supply is having a real effect on how quickly properties move.
The list-to-sale price ratio held at 96% for the fifth week in a row. Sellers who sold are still getting close to their asking price, which is the steadiest number in this report.
The average sale price fell to $711,967 after climbing for three straight weeks to nearly $770,000.
This is exactly the caution worth repeating about weekly averages. With roughly 150 sales in a week, the specific mix of homes that closed drives the number, and a few weeks of higher-end activity can create the appearance of a trend that then disappears. Neither the climb to $770,000 nor the drop back to $712,000 tells you much on its own about what a particular home is worth.
The monthly and quarterly figures are the better guide for anyone trying to understand where values sit. The weekly number is most useful for watching activity, not pricing.
Sales improving is genuinely good news, and it is worth holding onto. Homes are still selling, and 96% of asking is still the going rate for the ones that do.
The harder reality is that you now have more company than at any point this season, and buyers are taking longer to decide. Fifty-seven days is a meaningfully different timeline than the six weeks sellers were seeing in August, and pricing plans built on that faster market need revisiting.
If your home has been listed for several weeks without meaningful activity, the market has moved underneath your original pricing. That is worth a conversation now rather than in November.
Conditions keep improving for buyers. There is more inventory, more time to make decisions and less pressure to compete.
With 600 homes newly listed in a single week, the practical challenge has shifted from finding options to narrowing them down. Being clear on your must-haves and your budget before touring will save you considerable time, and the longer selling times mean you are less likely to lose a property while you think it over.
Simcoe County saw more sales this week alongside more listings, more inventory and longer selling times. The average price fell back after a three-week run higher, which is a reminder of how much weekly averages move around.
For buyers, this was another week of gains in choice and negotiating position. For sellers, the competition arriving alongside your listing continues to build, which makes an honest look at your pricing the most valuable thing you can do this month.
Whether you're considering buying, selling or simply trying to understand what these numbers mean for your plans, connect with a Faris Team Sales Partner to build a strategy around today's market.