House prices in Sudbury are set to see the “biggest years for growth in quite some time” next year, an industry observer claimed.
Sudbury Real Estate Board president David Kurt said he is optimistic that the region will see positive returns despite the difficulties it faced this year, with sales down 7% compared to the same period of 2013.
“I'm always excited. I think 2015 will hold a lot in store for us,” said David Kurt, who is also a sales representative with Coldwell Banker Charles Marsh Real Estate.
The Sudbury market was also oversaturated, with a 10% increase in listings compared to 2013, Kurt said in a report by The Northern Life
He added that people typically like to list their homes in the spring and summer, but the long winter pushed a lot of sellers to wait for the summer before listing their homes.
Potential buyers are also looking out for the negotiations between Vale and United Steelworkers Local 6500 before entering the housing market, Kurt said.
Meanwhile, RE/MAX data show the average house price in Sudbury in 2013 was $250,518. It jumped nearly 2% in 2014 to $255,400, and is expected to increase 1.6% in 2015, to $259,500.
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