news-housing sales

Sales were down but the average selling price of homes sold last year in the Sault increased compared to the previous year according to the Sault Ste. Marie Real Estate Board.
Board President Kim Clouthier says there were 796 residential sales in 2016 which is down 11% compared to last year.
The average selling price for homes came in at over 189-thousand dollars which is 2.4% higher than 2015.
Clouthier says the market may have been impacted with changes that were made in the fall regarding new mortgage regulations which raised the bar regarding the approval process…

 

She remains optimistic when looking ahead to 2017 but was reluctant to provide any projections…

 

Clouthier says the average time it took for a home in the city to sell last year was 64 days—-a slight improvement over 2015.