The prices in real estate in North Bay, in the Ontario region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in North Bay has had a strong decrease during the last 6 months. In June, the average price per sq.feet was $36,682. In the following month the price per sq.feet decreased considerably to $28,078. The price for the following two months in (August, September) had a considerable decrease of 20 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 59 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $19,407 to $11,511 during October, and November.
Based upon to the price in North Bay (cities), these have remained the same in the last 6 months. The average price for June is $311,106. During July the price had a considerable reduction till $263,555. During the following two months (August, September) the average price had a considerable increase of 117 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 93 %, going from $311,771 to $291,412.5 in October and November.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $274,839 they are 24 % more affordable than the average price for North Bay. The properties with the highest average price have 4 bedrooms, Their price is 27 % more costly than the average. After that we have properties with 1 bedroom priced at $322,321.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $383 / sq.feet, with an average $10,445 / sq.feet price in North Bay. The properties with the highest average prices have 3 bedrooms. They are 5 % more expensive than the average followed by properties with 2 bedrooms with a price at $5,410 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $274,839 it is 3 % cheaper than the average price in North Bay. "Apartment" is seen as the second most affordable property type. The dearest property type is "House" followed by "Apartment". At a price of $267,064 it is 21 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "House" at an average cost of $2,291 / sq.feet followed by "Condo" priced at $130,388 / sq.feet. "Apartment" is the most costly type of property with a $131,044 / sq.feet cost followed by "Condo" with an average price of $130,388 / sq.feet.