With some actual property expects predicting a housing market crash, the president of the Sault Ste. Marie Actual Property Board, Jonathan Mogg, shouldn’t be anticipating any important adjustments heading into the autumn.
Mogg says whereas rates of interest have barely cooled the native housing market, house patrons will nonetheless be seeing costs beneath the nationwide common. He says the typical worth in Sault Ste. Marie is hovering round $320,000 – which is effectively beneath the nationwide common of greater than $629,000.
“We’re taking a look at issues remaining the identical when it comes to being extra steady as it’s at the moment,” Mogg mentioned.
“We’re taking a look at costs in all probability staying the place they’re, which in comparison with the provincial common continues to be comparatively low. So, I imply, it’s rather less inexpensive than it was once, nevertheless it’s nonetheless in good condition.”
Mogg provides current optimistic developments within the Algoma Metal labour dispute will possible contribute to a steady housing market. He additionally says native patrons will in all probability profit from fewer buyers wanting on the Sault Ste. Marie housing market.
