Sault News: Property prices expected to remain stable

Some real estate expects to predict a housing market crash, said Sue Saint president. Marie Real Estate Commissioner Jonathan Mogg doesn’t expect any major changes heading into the fall.

Mogg said interest rates have cooled the local housing market slightly, but homebuyers will still see prices below the national average. He says the average price of Su Ste. Marie is hovering around her $320,000, well below her national average of $629,000.

“We are looking at staying the same in terms of being more stable than we are now,” Mogg said.

“We see prices probably as they are, still relatively low compared to state averages, which means they are a little more affordable than they used to be, but still in good shape.”

Mogg adds that recent positive developments in the Algoma Steel labor dispute are likely to contribute to a stable housing market. He also says local buyers will likely benefit from fewer investors looking at Sioux Cent. Murray housing market.

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