Home sales saw a big decline in January, both in our area and nationally.
Stats on the North Bay Real Estate Board website show sales through the MLS System were down 52.6%, compared to January last year.
The board says the average price of homes sold in the first month of this year was nearly $382,000, down 20.6% from January 2022.
“The number of new listings was down sharply by 21.5% (14 listings) from January 2022,” states the board’s website. “There were 51 new residential listings in January 2023. This was also the lowest number of new listings added in the month of January in history.”
The board’s coverage area stretches from Verner to Mattawa and Powassan to Temagami.
Nationally, the Canadian Real Estate Association says sales saw their largest decline since 2009.
They were down 37% over January 2022.
Prices for homes also dropped 18.3%.
The association says new listings are trickling out at near record lows but says that should change as the weather gets warmer.
**With files from Wendy Gray