Here is the Summary of the Real Estate Market in North Bay for 2015.
* Charts created by the DO team of Dennis Mong, and Owen Hong from the NBREB MLS data.
The Average City Residential Sales Price for a home in North Bay is $238,197 very little change from 2014.
Waterfront in both Lake Nipissing and Trout Lake experienced a drop in Sales Price on an average of over 16% with Lake Nipissing taking the hardest hit.
As for the Rural outside the city of North Bay shows a slight increase of Average Sales price as there seems to be a small migration as evident in the increase of # of houses sold in all areas of Callander, Sturgeon Falls, Redbridge, Corbeil and Astorville.
Overall the real estate market in North Bay experienced an increase of sales up close to 16% from last year.
However the last month of December had an increase of close to 29%.
Days on the market to sell your home is taking an of over 79 days as compared to last year 69 days.
Call the DO team of Dennis Mong, Broker 705-498-8878 or Owen Hong, Sales Rep. 705-499-0362.
It will be an interesting in 2016 to see how our economic conditions will effect our Real Estate Market.
If you have any questions on our Real Estate Market, I will be happy to give you a personal interpertation and some insight to what will happen to the market for 2016.