Local housing market continues growth trend in 2015

NEWS RELEASE

SAULT STE MARIE REAL ESTATE BOARD

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The Sault Ste Marie real estate market has continued it’s upward trend in 2015 according to Sault Ste Marie Real Estate Board statistics.

Overall total sales for 2015 were up 9 percent from 2014, while total sales volume rose 6 percent over the year before.

The total sales dollar volume reached just below $265,000,000 for the year, up from just over $251,000,000 in 2014, while number of sales reached 1629, up from 1492 the year prior.

“The numbers are in, and they indicate another strong year for our local economy,” said Rob Trembinski, President of the Sault Ste Marie Real Estate Board. “An increase of 9 percent is very significant for a market like ours, and I am very optimistic in the future growth of the Sault and Area”

The total number of listings remained nearly even in 2015, with just a 1 percent increase over 2014.

The total number of expired listings, or listings that did not sell, also remained almost even, rising an identical 1 percent.

The December sales also showed an increase, with the number of sales rising 11 percent over December 2014.

“All indications point towards growth in 2016” said Trembinski. “Demand is strong and as long as the price is right, houses are continuing to sell. Now is a great time to get out and find your next dream home, and my REALTOR® colleagues are some of the best in Ontario. Don’t let a little snow get in your way!”