April sales up 31% in North Bay, ON

“New construction is currently limited but still continuing in North Bay, Ontario with a new strip mall underway in the north end of the city.  Right now it’s a buyer’s market in the city with supply exceeding demand. Upper-value dwellings are the most impacted by this imbalance (though there are signs that sales are picking up) while medium- and lower-value dwellings continue to sell. Year-over-year the median home price for April 2015 was $240,000, up just over 5% from $230,000 in April 2014. Comparing month-to-month the number of sales in April 2015 was 108, up from 82 in March. Total inventory of homes was also up; 230 units vs. 203 units.”

Gordon Morland, North Bay, ON - Solidifi Featured EXTRAORDINARY APPRAISER