As home prices across the country continue to soar, Re/Max says the Sault's Bayview neighbourhood was at the top of its list of the most affordable spots identified by their real estate agents in an internal survey.
With an average home price of $100,000, Bayview beat out Thunder Bay's East End ($137,550), 7801-Industrial Park/Bellwood in Ottawa ($132,467), Sandy Street in Chatham ($145,000) and the Sault's west-end/downtown ($165,000).
According to Wikipedia, Bayview consists of "the square of city blocks made by Wallace Terrace, Goetz Street, Bonney Street, Glasgow Avenue, and the south end of Goulais Avenue."
Re/Max says Canadians struggling to afford current home prices are "exploring alternative options" including renting out part of their home, pooling money with friends or family and co-op/shared living arrangements.
"Short of exploring alternative solutions to find and achieve housing affordability in Canada, those who are willing to expand their boundaries can still find “hidden gem” neighbourhoods with homes at below-average prices," says the Re/Max report, which was released this week.
Home prices in the Sault have skyrocketed during the pandemic, with June prices up 35.7 per cent over the same month last year, according to the Canadian Real Estate Association.
The average price of homes sold in June was $286,088, compared to $210,824 in June of 2020.