Home sales dip across northeastern Ont. in October

While prices continued a slow climb, the number of homes sold in most major markets in northeastern Ontario dropped last month.

The biggest dip was in the Timmins area, where October sales dropped by 26.5 per cent compared with the same month in 2022.

The average sale price in the Timmins-Cochrane-Timiskaming districts last month was $279,517, up 8.8 per cent compared to the same time last year.

“The more comprehensive year-to-date average price was $262,537, edging down 0.9 per cent from the first 10 months of 2022,” the Canadian Real Estate Association (CREA) said in its monthly update.

“The dollar value of all home sales in October 2023 was $33.3 million, a modest gain of 3.6 per cent from the same month in 2022.”

The Sudbury Real Estate Board reported a 20.8 per cent decline in home sales comparing October 2022 and 2023. The average price of a home sold last month in the city was $417,055, up one per cent from a year earlier.

Sudbury also saw a surge of new listings last month – a total of 337 new residential listings, up 39.3 per cent compared to 2022.

October sales in the North Bay area saw an 11.4 per cent decline compared to a year earlier, with the average price the highest among major northern cities at $486,753, up 22.5 per cent compared to last year.

“The more comprehensive year-to-date average price was $440,020, down by six per cent from the first 10 months of 2022,” the CREA said.

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“The dollar value of all home sales in October 2023 was $37.5 million, an increase of 10.9 per cent from the same month in 2022.”

October statistics for Sault Ste. Marie have not been released.