Sault Ste. Marie Real Estate Board

The number of homes sold through the MLS® System of the Sault Ste. Marie Real Estate Board totaled 161 units in June 2024. This decreased by 8% (14 sales) from June 2023.

Home sales were 20.8% below the five-year average and 17% below the 10-year average for the month of June.

On a year-to-date basis, home sales totaled 753 units over the first six months of the year. This was a gain of 7.6% 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 $305,000 in June 2024, a modest gain of 3.5% compared to June 2023.

The average price of homes sold in June 2024 was a record $357,329, up modestly by 2.4% from June 2023.

The more comprehensive year-to-date average price was $338,619, an increase of 8.6% from the first six months of 2023.

The dollar value of all home sales in June 2024 was $57.5 million, a moderate decrease of 5.8% from the same month in 2023.

The number of new listings decreased by 6.5% from June 2023. There were 257 new residential listings in June 2024. This was the lowest number of new listings added in the month of June in more than a decade.

New listings were 11.2% below the five-year average and 18.5% below the 10-year average for the month of June.

Active residential listings numbered 432 units on the market at the end of June, a gain of 18.7% from the end of June 2023. Active listings haven’t been this high in the month of June in five years.

Active listings were 23.1% above the five-year average and 34.9% below the 10-year average for the month of June.

Months of inventory numbered 2.7 at the end of June 2024, up from the 2.1 months recorded at the end of June 2023 and below the long-run average of 3.6 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.