RE/MAX National Housing Report – January 2023
Home Prices Stabilise as New Listings Surge
Executive Summary
- Price trend: Prices moderated, landing close to where they were a year prior.
- Inventory shift: New listings surged, giving buyers more selection.
- Leverage: Negotiation is back, with sales trending below asking on average.
- What matters now: Pricing, presentation, and local strategy, not wishful thinking.
January’s RE/MAX National Housing Report points to a market that is rebalancing. Across 51 metro areas, the median sale price was
$385,000, down 1.0% from December and up 1.3% year over year.
After several months of declines, the data suggests price moderation is becoming more stable.
Inventory is the bigger story. Homes for sale were 59.4% higher than a year ago, supported by a
39.8% month-over-month increase in new listings. Even with that surge, closed transactions declined
26.7% from December and 35.2% year over year, reflecting affordability pressure and more selective buyers.
“Home price appreciation seems to have stabilized, and along with additional inventory and longer average days on market, that’s good news for buyers.”
Nick Bailey, President and CEO, RE/MAX
In plain terms: buyers have more options and more time. Sellers can still win, but only with disciplined pricing and a clean, well-managed listing process.
January 2023 Key Metrics (Report Highlights)
- Median sale price (median of 51 metro areas): $385,000 (down 1.0% MoM, up 1.3% YoY)
- New listings: up 39.8% vs December, down 5.1% vs January 2022
- Closed transactions: down 26.7% vs December, down 35.2% vs January 2022
- Close-to-list price ratio: 97% (homes sold ~3% below asking on average)
- Days on market: 48 days (up 1 day vs December, up 12 days YoY)
- Months’ supply of inventory: 2.0 (up vs 1.1 a year ago)
Simcoe County Perspective: What This Means for Barrie and Innisfil
National data sets the backdrop, but real estate decisions are local. In Simcoe County, this type of rebalancing market tends to show up as:
more choice for buyers, longer decision cycles, and a wider gap between homes that are positioned properly and homes that are not.
1) Buyers compare harder, and they walk faster
When inventory rises, buyers in Barrie and Innisfil stop rushing and start filtering. Condition, layout, location, and clear documentation matter more.
“Good” listings still move. Overpriced or poorly presented listings sit, then negotiate from a weaker position.
2) Pricing strategy becomes your leverage
In a fast market, momentum can cover mistakes. In a balanced market, the list price has to match today’s competition.
We look at current Simcoe County comparables, active inventory, buyer traffic patterns, and realistic days-on-market expectations to set pricing that performs.
3) Negotiation returns, so preparation matters
With close-to-list ratios trending softer, buyers negotiate more often and more confidently.
That is exactly why we focus on pre-list prep, disclosures, inspection planning, and a clean showing process that reduces objections.
4) Investors need tighter numbers and better timelines
For investor clients in Simcoe County, this is where underwriting discipline pays off.
We encourage stress-testing cash flow, budgeting realistic renovation costs, and planning contractor timelines.
If you need professionals (lenders, lawyers, inspectors, trades, property management), we can refer you to proven local options.
Want the local version for your neighbourhood?
If you are buying, selling, or investing in Barrie, Innisfil, or elsewhere across Simcoe County,
we will translate the national narrative into a clear, property-specific plan: pricing, timing, and next steps.
Book a consult with the MovingSimcoe.com team
Source and Notes
This post references the RE/MAX National Housing Report for January 2023 and its aggregated MLS metrics across 51 U.S. metro areas.
Local outcomes in Simcoe County can differ by neighbourhood, property type, condition, and pricing strategy.
