Demand for MLS® home sales in Timmins, Cochrane & Timiskaming Districts declines in June
The number of homes sold through the MLS® System of the Timmins, Cochrane & Timiskaming Districts Association of REALTORS® totaled 94 units in June 2024. This was a sharp decrease of 34.3% from June 2023.
Home sales were 38.3% below the five-year average and 29% below the 10-year average for the month of June.
On a year-to-date basis, home sales totaled 542 units over the first six months of the year. This was down modestly by 3.6% from the same period in 2023.
The average price of homes sold in June 2024 was $300,003, an increase of 18.9% from June 2023.
The more comprehensive year-to-date average price was $287,456, a gain of 10.9% from the first six months of 2023.
The dollar value of all home sales in June 2024 was $28.2 million, a notable decline of 21.8% from the same month in 2023.
The number of new listings rose 19% from June 2023. There were 244 new residential listings in June 2024.
New listings were 1.3% below the five-year average and 7% below the 10-year average for the month of June.
Active residential listings numbered 565 units on the market at the end of June, up sharply by 51.1% from the end of June 2023.
Active listings were 24.9% above the five-year average and 24.3% below the 10-year average for the month of June.
Months of inventory numbered 6 at the end of June 2024, up from the 2.6 months recorded at the end of June 2023 and below the long-run average of 6.3 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
