Despite the struggles of our local Economy, and a soft Canadian-wide recession, the North bay and Area* Housing market is showing signs of recovery.
As of July 31st, 2015, sales** climbed by 17.5% (in 2015), over the corresponding YTD sales in 2014.
The number of listings - July 31st YTD - have also increased, but by a much lower amount ... 5.1% ... giving merit to a belief that prices are stabilizing, with values equivalent to Spring 2013 pricing.
While Commercial construction permits have shown increased activity - specifically in North Bay - new Home builds in North Bay proper continue to struggle. Recent data indicates 23 new home builds vs 22 at this time last year. Resales in North bay itself have increased by 9.5%
* North Bay and area MLS sales - defined as the full trading area for the North Bay Real Estate Board
** YTD sales ending July 31st [2015 vs 2014]