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Thunder Bay's housing market better than most.

Thunder Bay is one of the few bright spots in the nation's housing market.

While consumer uncertainty has kept most housing markets in Canada from starting their anticipated recovery, Thunder Bay's market has been relatively stable for the past year, according to the October Quarterly Survey of Canadian House Prices released by Royal LePage.

Prices in Sault Ste. Marie, on the other hand, are declining at an alarming rate because of uncertainty over the local economy.

The pattern of price movement for the bungalow style of home is representative of market conditions for most housing styles.

In Thunder Bay the average price of a detached bungalow with three bedrooms, a one-car garage and full basement increased to $149,000 in October from $147,000 in July and $140,500 in October 1990.

The average price of a bungalow stabilized over the past year in Kenora ($115,000), North Bay ($122,500) and Parry Sound ($110,000).

Prices decreased over the past year in Timmins ($125,000 to $120,000) and Sault Ste. Marie ($110,000 to $96,000). In Sudbury the price rebounded to $115,000 in October after declining to $112,000 from $122,000 over the previous nine months.
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Copyright 1991, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Northern Ontario Business
Article Type:Brief Article
Date:Nov 1, 1991
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