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Home 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.

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

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

In Ontario's market, housing prices are set to drop in only one area while the rest surge in price, with increases as high as 22% predicted for some areas.

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

So if you're looking to buy property, North Bay may be one of the most affordable places to do so for the rest of the year in Ontario, despite the price of a single-detached home rising by 32.8% in the region from 2020-2021.

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

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

This article’s cover image was used for illustrative purposes only.

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