The region has become a destination for people to purchase homes.
That’s according to the North Bay Real Estate Board (NBREB), which released its statistics from December. The stats show a record number of homes being purchased during what is normally a slow month.
80 units were sold for an average price of $270,000 (26 percent increase from December 2019) for a total of $34.7 million (67 percent increase) during December, record numbers for the month.
“We have a lot of people moving into our area because it’s a beautiful place to be,” said Sue Symons, president of the NBREB. “Our area is a target for people to move into. We have a great lifestyle here, we’re close to peak centres and the community has so much to offer.”
Symons says there were many instances of people moving to North Bay and the surrounding area over the course of 2020, as was referenced in U-Haul’s migration trends that named North Bay as the country’s top city for growth last year.
With more people working from home in the past year, Symons says the pandemic has highlighted one of the key needs for the North Bay area.
“One of the biggest takeaways is the infrastructure and things like high-speed internet and how important that is to a community,” she noted.
Looking ahead, Symons is optimistic the North Bay-area’s real estate market will continue to be successful this year.
“With this pandemic, I wouldn’t even want to predict what the future holds, but we anticipate a vibrant market in 2021,” she said.
North Bay Real Estate Board represents over 150 REALTORS and over a dozen offices from West Nipissing to Mattawa.