EN - Real Estate

House Prices In Ontario Are Expected To Drop In Only 1 Spot This Fall

Housing prices are set to rise across most of Ontario, according to a new report.

The Canadian housing market is set "to remain strong this fall, despite Delta variant," according to a new RE/MAX report.

Ontario's market is no exception with housing prices set to drop in only one area while the rest surge in price with increases as high as 22% predicted for Muskoka.

North Bay's prices are set to decrease by 2% during the remainder of this year, according to the Re/MAX 2021 Housing Market Outlook 2021.

So if you're looking to buy property, North Bay may be one of the most affordable place to do so for the rest of 2021 in Ontario. Although in the last year alone the price of a single-detached home in North Bay has risen 32.8%.

According to the report, single detached homes are rising in price because of the high demand coming from young families in combination with low supply.

The average price of a single-detached home in North Bay from January to August 2021 currently sits at $403,682.