Timmins, Cochrane & Timiskaming Districts MLS® home sales continue slow and steady growth in 2024
The number of homes sold through the MLS® System of the Timmins, Cochrane & Timiskaming Districts Association of REALTORS® totaled 79 units in March 2024. This increased by 9.7% (seven sales) from March 2023.
Home sales were 32.6% below the five-year average and 19.9% below the 10-year average for the month of March.
On a year-to-date basis, home sales totaled 218 units over the first three months of the year. This was a gain of 9% from the same period in 2023.
The average price of homes sold in March 2024 was $280,390, up modestly by 1.8% from March 2023.
The more comprehensive year-to-date average price was $269,111, a minor increase of 3.4% from the first three months of 2023.
The dollar value of all home sales in March 2024 was $22.2 million, a gain of 11.6% from the same month in 2023.
The number of new listings decreased by 6.2% (10 listings) from March 2023. There were 151 new residential listings in March 2024.
New listings were 12.4% below the five-year average and 20% below the 10-year average for the month of March.
Active residential listings numbered 309 units on the market at the end of March, a gain of 8% from the end of March 2023.
Active listings were 6.1% below the five-year average and 45.4% below the 10-year average for the month of March.
Months of inventory numbered 3.9 at the end of March 2024, down from the 4 months recorded at the end of March 2023 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
Gord Cowie
