Looking at real estate listings the trend is clear, but going deeper into the numbers shows how significant the spike is: the price of homes continues to rise rapidly in Southwestern Ontario.
In London, the average sale price has risen 41% year over year. In Sarnia, the figure is 34%. Windsor has seen a 41% increase, while the average sale price in Chatham-Kent has risen 58.45% in the last 12 months.
Will these high prices stay the same as we exit the pandemic? Will this bubble burst? Blackburn News podcast host Craig Needles spoke to economist Mike Moffatt about the southwestern Ontario real estate market, and you can listen to that conversation below:
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