MLS® home sales in Sault Ste. Marie surge month over month; new listings push above historical average for May
The number of homes sold through the MLS® System of the Sault Ste. Marie Real Estate Board totaled 164 units in May 2025. This was down by 4.1% (seven sales) from May 2024.
Home sales were 13.3% below the five-year average and 4.3% below the 10-year average for the month of May.
On a year-to-date basis, home sales totaled 594 units over the first five months of the year. This was essentially unchanged, up just 0.5% (three sales) from the same period in 2024.
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 $313,300 in May 2025, increasing by 2.8% compared to May 2024.
The average price of homes sold in May 2025 was $329,428, a moderate decrease of 4.7% from May 2024.
The more comprehensive year-to-date average price was $337,477, increasing by 1.3% from the first five months of 2024.
The dollar value of all home sales in May 2025 was $54 million, a decline of 8.6% from the same month in 2024.
The number of new listings was up by 17.6% from May 2024. There were 347 new residential listings in May 2025. This was the largest number of new listings added in the month of May in more than five years.
New listings were 11.5% above the five-year average and 9.1% above the 10-year average for the month of May.
Active residential listings numbered 449 units on the market at the end of May, an increase of 12.8% from the end of May 2024. Active listings haven’t been this high in the month of May in more than five years.
Active listings were 37.7% above the five-year average and 17.8% below the 10-year average for the month of May.
Months of inventory numbered 2.7 at the end of May 2025, up from the 2.3 months recorded at the end of May 2024 and below the long-run average of 3.4 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.
BOARD & ASSOCIATION INFORMATION
The Sault Ste. Marie Real Estate Board aspires to be a recognized leader in developing and providing affordable and high quality support services to its membership, staff and to our community in a responsible and caring manner. The Sault Ste. Marie Real Estate Board hosts the Multiple Listing Service® (MLS®) and represents local REALTORS®. The board serves Sault Ste. Marie and the Algoma District including north to Wawa and east to Elliot Lake.
SAULT STE. MARIE REAL ESTATE BOARD
Contact info:
372 Albert Street East
Sault Ste. Marie, ON
P6A 2J6
Office: (705) 949-4560
Fax: (705) 949-5935
Gary Trembinski
