As I compile the stats for the past year and compare them to previous years, I'm seeing a very stable pattern emerging. For the past four years I have been tracking real estate transactions for the Powassan, Trout Creek, Chisholm and Nipissing markets. Last year in those markets there were 70 single family homes sold for an average price of $206,572. The interesting part is the consistency of that figure. In 2008 it was 70, 71 in 2009, 72 in 2010 and now 70 again. In my opinion, that steady number in a time when some ares have experienced a decline shows that people find this a desirable place to live. Small town and rural Ontario provides a quality of life that many are searching for.
Waterfront property is still lagging a little but with interest rates remaining low, perhaps 2012 will see more action in that area. Last year in this same geographical area we saw 4 cottages, 1 camp and 16 vacant lots sold.
Another thing to note is that the average home price is up to 206,572 from last year's 187,680. This is showing a rising trend but we have to remember that averages can be deceiving if there are a couple of high priced homes in the mix. All in all, its been another good year.
Speaking for Debbie and myself only, our listings were on the market for an average of 42 days compared to 63 days for the North Bay Real Estate Board area, and our average sale was for 96% of the asking price. I promise I won't throw any more numbers at you for awhile, but now you have an update on the market. If you know of anyone we could help in the purchase or sale of real estate, we certainly appreciate your referrals.