North Bay and Area sales UP - Prices Stabilizing

Despite an Economy that has stumbled somewhat, sales of North Bay* (only) residential homes have increased by 6.8% over last year (2014)  on a Year to Date basis ending June 30th.

North Bay Prices have stabilized, with a small increase off-setting a previous decline in 2014. In respect to unit sales, the past 2 years - 2013 & 2014 - had experienced drops of 14.1% and 8.0% respectively. Despite these fluctuations, North Bay house prices have more or less remained the same during the past 4 years.

In surrounding communities**, Residential Sales have increased by 22.6% after experiencing precipitous drops of 23.8 % and 10.4% in 2013 & 2014 respectively. Sale prices have declined slightly (-3.1%) and currently are at 2012 levels. 

Sale ratios of North Bay homes to Non-North Bay homes have remained relatively stable, fluctuating between 61% (2011) and 69% (2009) of Total Sales*** over the past 10 years. The ratio for 2015 saw 63% of total sales occur in North Bay proper.

The number of households in North Bay (and area) - defined as Greater North Bay by Stats Canada - has seen an increase in population of 1% [2006 - 2011].

 

* Non-waterfront Residential. Also excludes Condominiums and Mobile homes.

** Non-waterfront residential - outside of North Bay proper. Also excludes Condominiums and Mobile homes.

*** Trading area for North Bay Real Estate Board

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