Timmins, Cochrane & Timiskaming MLS® home sales post solid showing in October, on par with average levels
The number of homes sold through the MLS® System of the Timmins, Cochrane & Timiskaming Districts Association of REALTORS® totaled 125 units in October 2022. This was a large decline of 25.1% from October 2021.
Home sales were 12.6% below the five-year average and 2.3% above the 10-year average for the month of October.
On a year-to-date basis, home sales totaled 1,433 units over the first 10 months of the year, declining 15.2% from the same period in 2021.
The average price of homes sold in October 2022 was $256,942, a gain of 8.3% from October 2021.
The more comprehensive year-to-date average price was $264,800, up by 19.7% from the first 10 months of 2021.
The dollar value of all home sales in October 2022 was $32.1 million, falling 19% from the same month in 2021.
The number of new listings fell 12.2% from October 2021. There were 129 new residential listings in October 2022. This was the lowest number of new listings added in the month of October in more than a decade.
New listings were 18.5% below the five-year average and 23% below the 10-year average for the month of October.
Active residential listings numbered 312 units on the market at the end of October, increasing by 28.4% from the end of October 2021.
Active listings were 44.5% below the five-year average and 58% below the 10-year average for the month of October.
Months of inventory numbered 2.5 at the end of October 2022, up from the 1.5 months recorded at the end of October 2021 and below the long-run average of 6.7 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).
THE TIMMINS, COCHRANE & TIMISKAMING DISTRICTS ASSOCIATION OF REALTORS®
For more information,
please contact:
Anne Marie Vaillancourt
Executive Officer
(705) 268-5451
eo@tctdar.ca
Angela Hunter
