North Bay Homes for Sale
North Bay Housing Market to Benefit Sellers in 2021
After slowing in the past few years, the North Bay housing market has bounced back. Most home buyers are moving to the region to escape the higher real estate prices in the big city. This has resulted in a higher demand which is a good situation for sellers.
Housing Prices Expected to Increase 4-6%
The North Bay housing market is projected to remain strong in the seller’s market territory throughout 2021. This is because of a lack of inventory prompted by an increase in buyers from the south. Inventory challenges have been quite common in this market, putting upward pressure on prices last year. The housing inventory is expected to continue in to 2022, which means that the average price will increase by 4 to 6% across all properties.
The COVID-19 situation has immensely impacted the region’s housing market. More people are moving to the region seeking larger spaces and affordability. Due to the influx of buyers, housing prices have increased while supply has fallen. This means that local buyers will have to adjust their expectations to compete and win against out-of-town buyers.
Listing Your Home with Point59 Realty
Point59 Realty is the one-stop solution for all your home listing needs. We will connect you to potential buyers looking for houses for sale in North Bay and ensure you gain to the maximum. The best part is that when we find you a buyer, you only pay 0.59% commission. This is one of the ways you can save when you list with us.