The Sault Ste. Marie Real Estate Board has compiled the yearly totals comparing 2017 to 2016 and it shows both the number of homes sold and the average selling price both increased.
Real Estate Board President Jodie McNabb says there were 72 more properties sold last year compared to the year before which represents an increase of 9% as a total of 868 homes were sold.
The average selling price increased 4.2% to over 197-thousand dollars.
These increases were seen despite changes that were made to mortgage regulations in the fall of 2016 which raised the bar regarding the approval process…

Heading into 2018, Board President Jodie McNabb is optimistic that we will continue to see positive numbers despite the recent interest rate increase from the banks…

Also the average number of days on the market before a home was sold last year was 62 days—a slight improvement over the year before.