Thunder Bay Real Estate Board

Sales of single detached homes in the City of Thunder Bay numbered 37 units in February 2026. This decreased by 7.5% (three sales) from the same period in 2025.

Single detached home sales were 22.6% below the five-year average and 33.1% below the 10-year average for the month of February.

On a year-to-date basis, single detached home sales totaled 74 units over the first two months of the year. This was a decline of 6.3% (five sales) from the same period in 2025.

“February was another soft month for our region, with sales in the City of Thunder Bay coming in below average for the month. However, we did see some life on the supply side as new listings rebounded from the past few months, moving back above the 100-home mark board-wide. Even so, listings levels are still sitting below what we would expect in a typical February,” said Karen Hill, President of the Thunder Bay Real Estate Board. “Overall inventory remains the more surprising piece. Active listings are lower than last year and below the long-term February average, marking the 19th consecutive month of year-over-year declines. That tighter selection continues to matter, especially when and if demand re-emerges. Prices are holding up well. The average price was notably higher than a year ago, and the new MLS® HPI composite benchmark price for the Thunder Bay region has been trending upward since late 2025. After a couple of years of bucking the broader Ontario trend, it looks like our local market may be taking a breather. The key question now is whether this is a permanent shift or simply a pause before the spring market. We’ll be watching all of the areas in our region closely for clearer signs over the next few months.”

The median sale price for single detached homes sold in February 2026 was $377,500, up by 4.9% from February 2025.

The more comprehensive year-to-date median price was $401,750, an increase of 11.6% from the first two months of 2025.

Single detached properties spent less time on the market before selling in February 2026 than they had a year earlier. The median number of days on market for single detached home sales was 13 in February 2026, down from the 15 days recorded in February 2025.

The dollar value of all single detached home sales in February 2026 was $15.4 million, a moderate gain of 5.6% from the same month in 2025.