Average home sale prices in the Sault set new record last month

According to the Canadian Real Estate Association, home sale prices in Sault Ste. Marie averaged $387,400 in November, an increase of 30 per cent compared to the same period in 2023.

Homes sales edged upward in many markets in northern Ontario last month, including Sault Ste. Marie, where average sale prices set a new record.

According to the Canadian Real Estate Association, home sale prices averaged $387,400 in November, an increase of 30 per cent compared to the same period in 2023.

A total of 110 homes were sold last month in the city, up 0.9 per cent compared with last year.

"On a year-to-date basis, home sales totaled 1,538 units over the first 11 months of the year," the CREA said.

"This was a gain of 10.3 per cent from the same period in 2023."

Year to date, the average sale price in the city for a home was $335,391, an increase of 6.9 per cent from the first 11 months of 2023.

In North Bay, home sales for the month were up 30.4 per cent compared to a year earlier. The average sale price in November was $444,609, a gain of 21 per cent from a year ago.

Overall, however, home sales totaled 987 units in the first 11 months of the year, down 2.6 per cent from the same period in 2023.

Sale prices were also up in Timmins last month, while the number of homes sold declined.

"Home sales were 25.9 per cent below the five-year average and 18.8 per cent below the 10-year average for the month of November," the CREA said.

"The average price of homes sold in November 2024 was $282,447, up by 13.6 per cent from November 2023."

The more comprehensive year-to-date average price was $288,982, an increase of 10.4 per cent from the first 11 months of 2023.

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In Sudbury, home sales increased by 22 per cent in October, the most recent month statistics are available.

"On a year-to-date basis, home sales totaled 2,250 units over the first 10 months of the year. This was an increase of 11.6 per cent from the same period in 2023," the CREA said.

"The average price of homes sold in October 2024 was $480,681, a sizable gain of 14.8 per cent from October 2023. The more comprehensive year-to-date average price was $481,414, increasing by 4.7 per cent from the first 10 months of 2023."