The Timmins, Cochrane & Timiskaming Districts Association of REALTORS®

Timmins, Cochrane & Timiskaming Districts MLS® home sales up in May

The number of homes sold through the MLS® System of the Timmins, Cochrane & Timiskaming Districts Association of REALTORS® totaled 136 units in May 2024. This increased by 11.5% (14 sales) from May 2023.

Home sales were 6.5% below the five-year average and 3.8% above the 10-year average for the month of May.

On a year-to-date basis, home sales totaled 449 units over the first five months of the year, a gain of 7.2% from the same period in 2023.

The average price of homes sold in May 2024 was $296,005, up by 11.5% from May 2023.

The more comprehensive year-to-date average price was $284,580, an increase of 8.8% from the first five months of 2023.

The dollar value of all home sales in May 2024 was $40.3 million, a sizable gain of 24.3% from the same month in 2023.

The number of new listings rose 25.3% from May 2023. There were 287 new residential listings in May 2024. This was the largest number of new listings added in the month of May in five years.

New listings were 24.8% above the five-year average and 7.3% above the 10-year average for the month of May.

Active residential listings numbered 470 units on the market at the end of May, advancing 30.6% from the end of May 2023.

Active listings were 17.6% above the five-year average and 30.9% below the 10-year average for the month of May.

Months of inventory numbered 3.5 at the end of May 2024, up from the 3 months recorded at the end of May 2023 and below the long-run average of 5.8 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

BOARD & ASSOCIATION INFORMATION

The Timmins, Cochrane & Timiskaming Districts Association of REALTORS® is an Association of 120 REALTORS® that provides services to and sets standards for members and offers professional support and a local Multiple Listing Service®. The Association’s region covers the most northerly Ontario border to the north boundary of Temagami in the south. West to east the Board’s boundary goes from the Pagwa River to the Quebec border. The Association area includes such towns and cities as Hearst, Kapuskasing, Smooth Rock Falls, Cochrane, Iroquois Falls, Matheson, Timmins, Kirkland Lake, Englehart, Earlton, New Liskeard, Haileybury and Cobalt. Listings can also be viewed on the national www.REALTOR.ca web site (residential, commercial and investment properties).


timm logo 2022

THE TIMMINS, COCHRANE & TIMISKAMING DISTRICTS ASSOCIATION OF REALTORS®

For more information,
please contact:

Anne Marie Vaillancourt
Executive Officer
(705) 268-5451
eo@tctdar.ca

Chair
Gord Cowie

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