City of Thunder Bay MLS® single detached home sales continue to stay hot in May as average prices hit new record
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.
BOARD & ASSOCIATION INFORMATION
The Thunder Bay Real Estate Board today has 261 member REALTORS® providing a variety of professional real estate services. Our members are located in Thunder Bay, Marathon, Terrace Bay, Manitouwadge, Geraldton, Sioux Lookout, Dryden, Kenora, Sioux Narrows, Fort Frances and Atikokan. You can contact any one of them by using the convenient REALTOR® search feature on this web site. Information from the residential property listings, industrial property and business listings, submitted to the Board can also be found online on www.realtor.ca.
THUNDER BAY REAL ESTATE BOARD
1135 Barton St
Thunder Bay, ON P7B 5N3