Thunder Bay Real Estate Board

Sales of single detached homes in the City of Thunder Bay numbered 116 units in October 2020. This was a large increase of 46.8% from October 2019. Single detached home sales haven't hit this level in the month of October in five years.

On a year-to-date basis, single detached home sales totalled 866 units over the first 10 months of the year. This was little changed, down only 0.5% (four sales) from the same period in 2019.

The median sale price for single detached homes in October 2020 was a record $274,150, rising 17.9% from the median price in October 2019.

The more comprehensive year-to-date median price was $253,100, up 5.5% for the first 10 months of 2020.

Single detached properties spent less time on the market before selling in October 2020 than they had a year earlier. The median number of days on market for single detached home sales was 15 in October 2020, down from the 27 days recorded in October 2019 and one of the shortest times on record.

The dollar value of all single detached home sales in October 2020 was $34.4 million, surging 87.5% from the same month in 2019. This was also a new record for the month of October.