After three weeks of heavy listing activity, the flow of new properties into the Simcoe County market slowed noticeably. Homes also sold faster and closer to their asking price than they have in over a month. Inventory remained elevated at 8.9 months, so buyers keep the broader advantage, but this was the first week since August with movement in sellers' favour.
From September 21 to 27, 144 homes sold across the county. The average sale price came in at $793,403, the highest weekly figure of the past six weeks.
New supply eased considerably. There were 506 new listings, well down from the previous week's total, though active inventory still edged up to 5,435 properties. The sales-to-new-listing ratio improved to 28%, meaning just under three in ten newly listed homes found a buyer.
The surge that defined the first three weeks of September did not continue. Listing volume dropped back toward where it sat in late August.
One quieter week does not mean the fall wave is finished, and early autumn typically brings listing activity in bursts rather than a steady stream. Still, fewer new properties arriving gives the existing inventory a chance to clear, and that is a meaningful change from the pattern of recent weeks.
Average days on market fell to 49, down sharply from the mid-fifties a week earlier. That is roughly a week faster.
The list-to-sale price ratio also moved up to 97%, its first improvement in five weeks after holding steady at 96%. The change is small in isolation, but combined with the drop in selling times it points to buyers acting with a bit more conviction than they were in mid-September.
Months of inventory sat at 8.9, the high point of this stretch, with 5,435 properties available across the county.
This is the number that keeps the overall picture in buyers' favour, and it has not improved. Active listings rose again this week even with fewer new ones arriving, which tells you that homes are still accumulating faster than they are selling. A single week of better selling times does not undo a month of inventory building.
On the average sale price, a word of caution is warranted. The weekly figure has ranged from roughly $712,000 to $793,403 in the space of two weeks. With under 150 sales in a week, that swing reflects which homes happened to close rather than any real movement in values. Monthly and quarterly numbers are the right reference point for anyone trying to gauge what their home is worth.
This was a better week, and it is reasonable to take some encouragement from it.
Fewer new listings means fewer homes competing directly with yours. Faster selling times and a 97% list-to-sale ratio suggest the buyers who are active right now are more decisive than they were two weeks ago.
What has not changed is the size of the pool you are competing in. With over 5,400 homes available, buyers can still afford to be selective, and an asking price set against spring comparables will still be passed over. The improvement this week is in buyer behaviour, not in the supply you are up against.
Buyers remain in the stronger position, with inventory at its highest point of the past six weeks and plenty of time to work through options.
The one thing worth noting is that the market moved slightly quicker this week. If you have been taking several weeks to decide on properties, the homes that are well priced and well presented may not sit as long as they did earlier in September. Having your financing sorted and a clear shortlist will matter more if this pace continues.
Simcoe County saw fewer new listings, faster sales and a modest improvement in what sellers achieved against asking, while overall inventory stayed at the top of its recent range.
For buyers, the selection and negotiating position are intact. For sellers, this was the first encouraging week in a while, though one week is not yet a trend.
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.