Timmins, Cochrane & Timiskaming Districts Association of REALTORS® MLS® home sales down from 2021 but still post second best year on record in 2022
The number of homes sold through the MLS® System of the Timmins, Cochrane & Timiskaming Districts Association of REALTORS® totaled 58 units in December 2022. This was down sharply by 41.4% from December 2021.
Home sales were 20.1% below the five-year average and 7.8% below the 10-year average for the month of December.
On an annual basis, home sales totaled 1,588 units over the course of 2022. This was a substantial decrease of 18.1% from the same period in 2021.
The average price of homes sold in December 2022 was $273,782, a sizable gain of 26.4% from December 2021.
The more comprehensive annual average price was $262,483, increasing by 17.6% from all of 2021.
The dollar value of all home sales in December 2022 was $15.9 million, a sharp decrease of 26% from the same month in 2021.
The number of new listings was up sharply by 34.4% from December 2021. There were 82 new residential listings in December 2022.
New listings were 3.5% above the five-year average and 3.1% below the 10-year average for the month of December.
Active residential listings numbered 253 units on the market at the end of December, a substantial increase of 61.1% from the end of December 2021.
Active listings were 40.9% below the five-year average and 56.4% below the 10-year average for the month of December.
Months of inventory numbered 4.4 at the end of December 2022, up from the 1.6 months recorded at the end of December 2021 and below the long-run average of 10.5 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
Michelle Hagerty
