Thunder Bay Real Estate Board

Sales of single detached homes in the City of Thunder Bay numbered 121 units in May 2021. This was more than double the levels from a year earlier, surging 137.3% from the same period in 2020.

Single detached home sales were 11.4% above the five-year average and 6.9% above the 10-year average for the month of May.

On a year-to-date basis, single detached home sales totaled 434 units over the first five months of the year. This was up sharply by 82.8% from the same period in 2020.

The median sale price for single detached homes sold in May 2021 was a record $301,000, an increase of 20.4% from May 2020.

The more comprehensive year-to-date median price was $285,600, a sizable gain of 22.4% from the first five months of 2020.

Single detached properties spent less time on the market before selling in May 2021 than they had a year earlier. The median number of days on market for single detached home sales was 13 in May 2021, down from the 15 days recorded in May 2020.

The dollar value of all single detached home sales in May 2021 was $40.1 million, more than double the levels from a year earlier, rocketing up 180.6% from the same month in 2020. . This was a new record for the month of May and was also the largest dollar value of homes sold for any month in history.