North Bay and Area REALTORS® Association

The number of homes sold through the MLS® System of the North Bay and Area REALTORS® Association totaled 49 units in December 2024. This was up by 11.4% (five sales) from December 2023.

Home sales were 3.9% below the five-year average and 4.1% below the 10-year average for the month of December.

On an annual basis, home sales totaled 1,029 units over the course of 2024. This was a minor decrease of 1.6% from 2023.

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite/single-family benchmark price was $425,500 in December 2024, up by 12.1% compared to December 2023.

The average price of homes sold in December 2024 was $456,416, a sizable gain of 22.6% from December 2023.

The more comprehensive annual average price was $458,896, increasing by 6.5% from all of 2023.

The dollar value of all home sales in December 2024 was $22.4 million, an advance of 36.6% from the same month in 2023.

The number of new listings was up by 7.9% (three listings) from December 2023. There were 41 new residential listings in December 2024.

New listings were 5.7% above the five-year average and 13% below the 10-year average for the month of December.

Active residential listings numbered 118 units on the market at the end of December, a decrease of 9.2% (12 listings) from the end of December 2023.

Active listings were 24.2% above the five-year average and 43.8% below the 10-year average for the month of December.

Months of inventory numbered 2.4 at the end of December 2024, down from the 3 months recorded at the end of December 2023 and below the long-run average of 4.3 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.