The Greater Sudbury housing market was just buzzing in March. According to the Canadian Real Estate Association stats, home prices surged for March compared to March 2019.
The housing market was said to be something that would be hit hard during the Coronavirus shutdown but it doesn’t appear to be slowing whatsoever. In March 2020 the Sudbury Real Estate Board had reported a jump of 6.7% in sales over the same period one year earlier.
As for the year in general the housing market is in an upward trend. The year to date volume of home sales compared to last year is up just over 7%. The average home sale price in March was also a record at $319,860. This is up a significant 21.7% from March 2019.
Also Read: The Home Buying Checklist Everyone Needs
Supply levels have also decreased in March and most certainly have continued through April. With the decrease in inventory on the Sudbury Real Estate market we are certainly in a type of boom situation, despite the coronavirus.
The City of Greater Sudbury is in a good position moving forward this year as some real estate agents are seeing multiple offers on properties even in the middle of this pandemic. Also with the shutdown which started mid March we still seen a huge increase in total dollar value of homes sold this March compared to March 2019. With a 26% increase and a total value of all properties sold being $65.4 Million the future looks good for real estate in Greater Sudbury.
The Greater Sudbury housing market will be one to watch when the lockdown restrictions are lifted. With the low volume of homes on the market and the quality of home buyers searching for homes, this may be a perfect time to list.