Sault Ste. Marie Real Estate Board

The number of homes sold through the MLS® System of the Sault Ste. Marie Real Estate Board totaled 110 units in November 2024. This edged up 0.9% (one sale) from November 2023.

Home sales were 16.2% below the five-year average and 8.1% below the 10-year average for the month of November.

On a year-to-date basis, home sales totaled 1,538 units over the first 11 months of the year. This was a gain of 10.3% from the same period in 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 $302,600 in November 2024, increasing by 6.5% compared to November 2023.

The average price of homes sold in November 2024 was a record $387,400, up sharply by 30% from November 2023.

The more comprehensive year-to-date average price was $335,391, an increase of 6.9% from the first 11 months of 2023.

The dollar value of all home sales in November 2024 was $42.6 million, a jump of 31.2% from the same month in 2023.

The number of new listings decreased by 7.8% (12 listings) from November 2023. There were 142 new residential listings in November 2024.

New listings were 2.6% below the five-year average and 3.7% below the 10-year average for the month of November.

Active residential listings numbered 356 units on the market at the end of November, a modest gain of 1.4% (five listings) from the end of November 2023. Active listings haven’t been this high in the month of November in five years.

Active listings were 31.1% above the five-year average and 25.2% below the 10-year average for the month of November.

Months of inventory numbered 3.2 at the end of November 2024, unchanged from the 3.2 months recorded at the end of November 2023 and below the long-run average of 4.4 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.