The beginning of the year continues to be a slow time for home sales in the Bancroft area.
The Bancroft and Area Association of Realtors says 12 homes were sold this February, which is below the monthly average of 14. President Marilyn Dillon says winter is always very quiet for the local housing market so it’s hard to tell much from this data. Dillon also says the lack of supply could cause prices to go up in the coming months. The average price of a home in the Bancroft area was nearly $254,000 in February, down about 3 per cent year-over-year.
Homes spent an average of nearly seven months on the market in February.