Over the years, the housing market in Elliot Lake has seen ups and downs. Different housing trends have come and gone, but the one thing that remains the same is the fact that young families want to establish lives in Elliot Lake to raise their children.
According to Royal Lepage Real Estate broker Tammy VanRoon, for the past four to five years, the most buyers are interested in purchasing houses that are move-in ready.
"The real estate market in the city has come a long way," she said. "More young families are moving here from the south and are looking for move-in ready houses. These types of homes have a higher cost."
In the last four years, housing costs in Elliot Lake have increased. Before, houses were listed on the market below $100,000, encouraging buyers to move to the area.
"I never thought I would see a house being put on the market in the city that was over $100,000," she said. "People want more but they don't always get what they want on their list."
In 2012, the number of houses sold increased, indicating that the city's population had boomed.
"People were getting a pretty good deal on homes in 2012," she said. "Around 59 per cent of the houses sold that were on the market."
Unfortunately, over the past couple of years, the sale of houses has decreased, leaving houses on the market longer than normal.
"In 2016 and 2017, over 200 homes have been sold, compared to when I started, when there were over 400 homes sold."
In 2016, the average price of a house was $96,197 and in 2017, the average price of a house was $103,566.
"This is an increase of 7.66 per cent," she explained. "It's so nice to see people getting their money back for their house."
According to VanRoon, the average price of a house has been "slowly creeping back up."
Over the years, housing trends have been all over the map. People have been wanting single family homes, bungalows, condos as well as townhouses. As of now, buyers are looking at purchasing detached bungalows with a garage that backs into a bush.
"This is the most difficult to look for," she said. "The average sized house is 50x100 square feet."
The latest trend for buyers with families is the back-split house.
"This way, you can still keep an eye on the kids when they go play just down two steps," she explained. "But then again, some want a condo."
According to VanRoon, there are no undesirable areas of the city for buyers. In recent years, buyers are looking into townhouse style condos to raise families.
"This complex has come a long way," she said. "Things are getting fixed in that area."
VanRoon's advice for home buyers includes interviewing Realtors to see which one is a good fit for what you are looking for.
"Buying a house is a huge investment," she said. "Interview your realtor, even if you're not selling. If you're not comfortable with one, get someone else. Be honest with them. Stick with your budget. Don't hide anything. Also, don't expect too much on your list. There are some concessions."