Official market update for December 2022. This update includes the entire North Bay Real Estate board as a whole

(including outskirts and all property types)

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Wow what a DROP!

 

December is usually fairly quiet but this is a new record for North Bay & Area as of recent. Hard to believe in the peak of the market in 2022 the average sales price was $540,061 (March 2022) and for December it was $347,022!

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December was VERY slow with only 25 sales though, so these types of stats can definitely skew the numbers by a lot. It will be interesting to see what happens in the next month or so as everyone gets back into the swing of real life after the holidays.

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It is a good time to BUY right now people! Buyers who have been on the fence, get out there and get into something. Sellers- keep in mind that our average sales price pre-covid was around $250,000 +/- which means we are still getting a decent price for our homes. Sellers are still getting 98.3% of asking price on their homes which only changed .2% from November.

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As always I’m here for any questions or concerns and I would love to hear your comments, feedback & predictions!

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Wouldn’t you love to have a crystal ball to see what was going to happen with the market in the future? I know I would!

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