An active spring market was expected for North Bay in 2020, but the impact of COVID-19 on the housing market has left this outlook in question. The true impacts will become more clear in the coming weeks. North Bay homebuyers are often classified as suburban families or those looking to move up in the market, Baby Boomers/retirees, and those who have been priced out of the city and are looking for an affordable compromise. Within North Bay, housing affordability has a medium impact on the buyer’s decision on specific neighbourhood choice. Low housing supply is the greater concern, which is also an issue across much of Ontario.
So, what are the best neighbourhoods in North Bay to buy a house? RE/MAX explores more than 300 of Canada’s most liveable hot spots in the new 2020 Liveability Report. Here are our top picks for North Bay.
10 Most Liveable Neighbourhoods in North Bay
The most luxurious neighbourhoods in the region are Lake Nipissing, Airport Hill and Trout Lake, where the average home price ranges from $400,000 to $500,000. These neighbourhoods are coveted for their walkability and neighbourhood diversity. Some of the most liveable neighbourhoods in North Bay include West End, Ferris and Birchaven, which cite proximity to independently owned retail/gyms/bars and restaurants, access to walking paths, and are easily driveable, respectively.
North Bay’s Future Liveability
North Bay’s liveabilty is primed to see improvements in the coming three to five years. North Bay is made up of many beautiful communities, and getting around the region and neighbourhoods is easy. Workplaces and shopping are close by, and residents are surrounded by lakes and parks, making the city ideal for families and those looking for fantastic outdoor recreational living.
Liveability is about quality of life at a local level. A neighbourhood’s dynamism, or lack thereof, involves a delicate convergence between independent small businesses, public institutions, arts and culture, green spaces and housing, to name a few. The COVID-19 tragedy will impact neighbourhood ecosystems differently across the country, just as the virus itself has. Yet, civic/local pride has been proliferating throughout this crisis in inspiring ways, giving Canadians hope that micro-economies, including real estate, have the resilience to be restored in the near and mid-term.
Lydia McNutt is an award-winning editor, with more than two decades of experience specializing in Canadian real estate. At RE/MAX, Lydia is responsible for developing consumer-facing content while promoting the RE/MAX brand through housing market reports and market news, as featured on the RE/MAX Canada blog and social media channels. Lydia has been published nationally on topics ranging from real estate, architecture, decor and design, to finance, business, technology, entertainment and lifestyle. When she’s not head-down at her writing desk, Lydia is busy “momming” in Oakville, Ontario, where she lives with her husband, two kids and their chocolate lab, Betty. Email Lydia at firstname.lastname@example.org