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HomeNewsBancroft housing market took sharp plunge last year

Bancroft housing market took sharp plunge last year

If you’re looking to sell a house in Bancroft, the news isn’t good. 

A Canadian Real Estate Association report paints a bleak picture of the market in the town, with sharp downward trends in the number of sales and in the value of homes. 

The report says 350 homes were sold in the town in 2022, a 35 per cent decline from the year before. Thirteen homes were sold in December 2022, six fewer than the number of sales in the same month of 2021.

The report also says, the average price of homes sold in December 2022 was $363,000. That number represents a 55 per cent decline from December 2021.

Also notable, was the mention that the dollar value of all homes in December 2022 was $4.7 million, a decrease of nearly 70 per cent from the same month in 2021.

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The report says that home sales in December 2022 were 26 per cent below the five-year average and almost 23 per cent below the 10-year average for the month.

It also says the average price of homes sold in December 2022 was $363,000, which  represents a decline of more than 50 per cent compared to December 2021. 

The report is based on information from homes sold through the MLS system in Bancroft.

It also shows that fewer people are selling homes. The report says that there were just 10 new home listings in December, the lowest number of new listings in that month in more than 15 years. 


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