With some actual property expects predicting a housing market crash, the president of the Sault Ste. Marie Actual Property Board, Jonathan Mogg, isn’t anticipating any vital modifications heading into the autumn.
Mogg says whereas rates of interest have barely cooled the native housing market, house patrons will nonetheless be seeing costs under the nationwide common. He says the typical worth in Sault Ste. Marie is hovering round $320,000 – which is properly under the nationwide common of greater than $629,000.
“We’re issues remaining the identical when it comes to being extra secure as it’s presently,” Mogg stated.
“We’re costs most likely 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, nevertheless it’s nonetheless in good condition.”
Mogg provides latest constructive developments within the Algoma Metal labour dispute will possible contribute to a secure housing market. He additionally says native patrons will most likely profit from fewer buyers wanting on the Sault Ste. Marie housing market.