North Bay Housing Market Update (Fall 2025)

Trends in the North Bay Housing Market

In Q4 2024, North Bay housing market  experienced a balanced market, leaning towards a buyer’s market. A growing number of homes on the market meant that buyers could take their time and explore a wider range of choices. Sellers therefore needed to be more reasonable with their pricing and terms of sale, particularly for homes that needed updates or were initially priced above what buyers expected. 

Families remain the primary drivers of housing demand in the region, a trend expected to continue through the end of the year. Retirees are also attracted to the region for its appealing neighbourhoods, green spaces and a variety of downsizing choices that still provide convenient access to essential services and amenities. Economic uncertainty is keeping many buyers on the sidelines, slowing overall market activity in North Bay. First-time buyers are averaging at least 30 years old, and more are relying on family financial support to help them get into the market.  

Cottage and waterfront properties are also taking longer to sell, as demand for secondary homes has softened. Affordable homes in the low to mid-range remain in short supply, adding to buyers’ caution. More offers are now coming with conditions, allowing buyers to move forward only when their financing is secure or their current home has sold. This has become increasingly significant in the slower market, particularly for properties that have stayed on the market for longer periods of time.