Thunder Bay Real Estate Board

Sales of MLS® listed single detached homes City of Thunder Bay surge in April

Sales of single detached homes in the City of Thunder Bay numbered 83 units in April 2024. This was a substantial gain of 53.7% from the same period in 2023.

Single detached home sales were 11.6% above the five-year average and 1.8% below the 10-year average for the month of April.

On a year-to-date basis, single detached home sales totaled 229 units over the first four months of the year. This was a gain of 8.5% from the same period in 2023.

“Sales of single detached homes gained momentum in April, marking the third consecutive month-over-month gain and a whopping 53% gain from April 2023,” said Wes Case, President of the Thunder Bay Real Estate Board. “Board-wide sales also rose, with a 25% increase compared to the same period last year, nearly doubling the total from January. On the pricing front, average prices saw a nearly 10% rise from last year, hitting the highest single month total since summer 2023. As the number of newly listed properties outpaced sales by a wide margin, overall inventory is starting to build, offering more selection for potential buyers. The spring market is bustling and MLS® market activity seems to be picking up.”

The median sale price for single detached homes sold in April 2024 was $350,000, up modestly by 2.2% from April 2023.

The more comprehensive year-to-date median price was $342,000, an increase of 10.2% from the first four months of 2023.

Single detached properties spent about the same amount of time on the market before selling in April 2024 than they had a year earlier. The median number of days on market for single detached home sales was 15 in April 2024, in line with the 15 days recorded in April 2023.

The dollar value of all single detached home sales in April 2024 was $32.7 million, a jump of 63.6% from the same month in 2023.

BOARD & ASSOCIATION INFORMATION

The Thunder Bay Real Estate Board today has 270 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.


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THUNDER BAY REAL ESTATE BOARD

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Contact info:
1135 Barton St
Thunder Bay, ON P7B 5N3
P 807-623-8422
F 807-623-0375
info@thunderbay-mls.on.ca

President
Wes Case

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