The Timmins, Cochrane & Timiskaming Districts Association of REALTORS®

The number of homes sold through the MLS® System of the Timmins, Cochrane & Timiskaming Districts Association of REALTORS® totaled 186 units in March 2021. This was an advance of 89.8% from March 2020 and was a new sales record for the month of March.

On a year-to-date basis, home sales totaled a record 459 units over the first three months of the year. This was up sharply by 72.6% from the same period in 2020.

The average price of homes sold in March 2021 was $217,216, a significant increase of 35.2% from March 2020.

The more comprehensive year-to-date average price was $200,219, a gain of 17.5% from the first three months of 2020.

The dollar value of all home sales in March 2021 was $40.4 million, more than double the levels from a year earlier, rocketing up 156.7% from the same month in 2020. This was also a new record for the month of March.

The number of new listings rose by 40.1% from March 2020. There were 213 new residential listings at the end of March 2021.

Active residential listings numbered 288 units on the market at the end of March, down sharply by 53.6% from the end of March 2020. Active listings haven't been this low in the month of March in more than three decades.

Months of inventory numbered 1.5 at the end of March 2021, down from the 6.3 months recorded at the end of March 2020 and below the long-run average of 8.2 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.