Skip to content
About | Contact | Advertise | Manage Subscriptions
  1. Home
  2. Around the North

Real estate softening in North Bay

North Bay realtors are reporting a softening of the local homebuying market. The North Bay Real Estate Board said there were increases in average selling prices but a declines in residential sales volumes.
Northern Ontario Business Staff

North Bay realtors are reporting a softening of the local homebuying market.

The North Bay Real Estate Board said there were increases in average selling prices but a declines in residential sales volumes.

In 2008, the average selling price for a North Bay home rose to $176,998, up 8 per cent from the previous year. But the total units sold dropped 11.5 per cent to 1,466.

Real estate board president Steve Kotan blamed the market slowdown, particularly in the year's final quarter, to consumer reaction of the world's financial markets.